Bankruptcy

1.Describe the common methods by which a bankruptcy trustee liquidates an estate's assets. When does a sale of estate property require court approval?

2.What is cash collateral? What actions must a trustee take to be authorized to use cash collateral?

3.How can property be sold over the objection of a lienholder?

4.Under what conditions may a trustee sell a nondebtor's interest in property owned as a co-tenant or joint tenant with the debtor?

5.Why is it necessary to protect private information in the sale of customer lists?

1.What is an executory contract? Can the following be executory contracts: license agreement? royalty contract? franchise agreement? unexpired lease? pending contract for the sale of real estate? installment loan contract? employment agreement?

2.What is adequate assurance of performance?

3.What must a trustee or debtor-in-possession do to assume an unexpired lease or executory contract?

4.What are the time limits within which an executory contract must or may be assumed in a Chapter 7 or 13 proceeding? Residential lease?

5.What is the difference between assumption and assignment?

6.What is the effect of assumption or rejection of an executory contract or lease upon any claims of the nondebtor party to the contract?

7.What are the rights of a purchaser of an executory contract for the purchase of real estate?

1.Why does the Bankruptcy Code restrict the use of an estate's cash by a trustee?

2.How must a trustee maintain a bankruptcy estate's cash assets?

3.What are the purposes of abandonment?

4.How does a trustee abandon estate property?

5.When may a secured creditor benefit from the abandonment procedure?