Iko purchased a house through Stockholm Bank Pvt. Ltd. A year  later, Iko wanted to make improvements on the mortgaged property and  borrowed money from Jeremy, mortgaging the same property again. Jeremy  is unaware of the mortgage of the house by Stockholm Bank and records  the mortgage. Analyze the situation in case Iko is unable to repay both  the mortgagees.

Titan Insurance Co. pays the damages for Anna's car. The damages  were a result of an accident caused by Earl, who was drunk while  driving. Discuss Titan's legal rights in this situation.

Trudy has a steady income but is behind on her payment of debts.  Trudy wants to pay her debts, but needs some relief from her creditors.  Discuss what type of Bankruptcy Procedure would best fit her case.

Morgan and Flynn owned a partnership business that was facing  financial difficulties. The debts of the business were getting out of  hand. However, neither Morgan nor Flynn wanted to close down the  business and felt that, with a few changes, they could turn the business  around and make a profit. Which chapter of the Bankruptcy Code should  they file under? Why?