Question
i need help with this: (2) Why is bankruptcy said to be a concept of federal jurisdiction? (3) What are the main types or classifications
i need help with this:
(2) Why is bankruptcy said to be a concept of federal jurisdiction?
(3) What are the main types or classifications of bankruptcy under Federal Law? Include an overview for each of the types listed by you.
(4) Define the trustee concept under the Federal Bankruptcy Law. What is the main function of the trustee?
(5) Define the concepts secured debt (credit) and unsecured debt (credit). Provide examples of each of these.
(6) Explain the concept of Automatic Stay under the Federal Bankruptcy Law. What benefits does this remedy provide to the debtor who files for bankruptcy?
(7) Define what is a means test under the Federal Bankruptcy Law. Why does the Court want information to assist you in this analysis?
(8) Under the Federal Bankruptcy Law, which businesses are prevented from filing bankruptcy under the General Bankruptcy Law? Given this impediment, what remedy do you have if your financial situation worsens or you are insolvent?
(9) Define the concept of involuntary bankruptcy.
(10) How is the concept of estate defined by a petitioner for the purposes of the Federal Bankruptcy Law?
(11) Under the Federal Bankruptcy Law, which debts are Non-exonerable (that are not eliminated)? List specific examples.
(12) What is a reorganization plan under Chapter 11 of the Federal Bankruptcy Law? Who can take advantage of the aforementioned Chapter 11
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