Question
You must answer the questions to both Scenario 1 and Scenario 2. Scenario #1 Nelson Flanders is employed part-time by the Springfield Nuclear Plant and
You must answer the questions to both Scenario 1 and Scenario 2.
Scenario #1
Nelson Flanders is employed part-time by the Springfield Nuclear Plant and earns take-home pay of $400 per week. He is $2000 in debt to the Moe's Tavern for cases of Duff's beer purchased on credit over the past eight months. Most of the beer is non-exempt and is stored at Nelson's house also in Springfield. Nelson is in default in his payments to Moe's Tavern. Moe's learns from Homer Simpson that Nelson has a girlfriend in another state and that Nelson plans to give her the cases of Duff's beer now stored at his house as a Christmas present.
(A).Identify (3) actions are available to the owner of Moe's Tavern to collect the debt owed by Nelson Flanders?
(B).What is likely thebestamong these actions that Moe's can take to preserve his ability to collect the debt?
Scenario #2
Homer Simpson is not known for his business sense. He started a greenhouse and nursery in Springfield, Florida near the Springfield Nuclear Power Plant two years ago, and because of his lack of experience, he soon was in debt to a number of creditors. On June 1, 2020, Homer borrowed $5000 from his father to pay back some of these creditors.On September 1, 2020, Homer paid back the $5000, depleting his working capital.
One creditor, Cool Springs Nursery Supply Co., had extended credit to Homer on numerous purchases by him. Cool Springs pressured Homer for payment of what was due, a sum of $6,000.00, and on September 1, 2020, Homer paid Cool Springs half the amount due.
On September 2, 2020, Homer voluntarily filed a petition into bankruptcy.
Following the filing, the trustee in bankruptcy claims that both Homer's father and Cool Springs must pay over to the debtor's estate the amounts Homer paid to them, as indicated above.
A.Indicate the general authority and duties of a Bankruptcy Trustee and as they apply to a Chapter 7 bankruptcy.
B.Did theBankruptcy Trustee exercise proper authority in mandating that Homer's father and Cool Springs remit to the Debtor's Estatethe amounts Homer paid to them before filing his bankruptcy petition.Explain why or why not.
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