|
Interim Trustee
Interim trustee is a term of art in section 701 of the Bankruptcy Code, Title 11 of the United States Code. When a case under Chapter 7 of the Code is commenced, the United States Trustee The United States Trustee Program is a component of the United States Department of Justice that is responsible for overseeing the administration of bankruptcy cases and private trustees. The applicable federal law is found at and , et seq. In ... immediately appoints an interim trustee for that case. The most important immediate duty of the interim trustee is to conduct the first meeting of creditors (sometimes called the "341 meeting"), at which the bankrupt person is required to appear and respond to questions under oath concerning the person's assets and debts. If the creditors do not elect some other person qualified to serve as trustee for the case, then the interim trustee becomes the "permanent" trustee. The permanent trustee serves as trustee for the duration of the case, but is s ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bankruptcy In The United States
In the United States, bankruptcy is largely governed by federal law, commonly referred to as the "Bankruptcy Code" ("Code"). The United States Constitution (Article 1, Section 8, Clause 4) authorizes Congress to enact "uniform Laws on the subject of Bankruptcies throughout the United States". Congress has exercised this authority several times since 1801, including through adoption of the Bankruptcy Reform Act of 1978, as amended, codified in Title 11 of the United States Code and the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (BAPCPA). Some laws relevant to bankruptcy are found in other parts of the United States Code. For example, bankruptcy crimes are found in Title 18 of the United States Code (Crimes). Tax implications of bankruptcy are found in Title 26 of the United States Code ( Internal Revenue Code), and the creation and jurisdiction of bankruptcy courts are found in Title 28 of the United States Code (Judiciary and Judicial procedure). Bankrupt ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United States Code
In the law of the United States, the Code of Laws of the United States of America (variously abbreviated to Code of Laws of the United States, United States Code, U.S. Code, U.S.C., or USC) is the official compilation and codification of the general and permanent federal statutes. It contains 53 titles (Titles 1–54, excepting Title 53, which is reserved for a proposed title on small business). The main edition is published every six years by the Office of the Law Revision Counsel of the House of Representatives, and cumulative supplements are published annually.About United States Code Gpo.gov. Retrieved on 2013-07-19. The official version of these laws appears in the '' |
United States Trustee
The United States Trustee Program is a component of the United States Department of Justice that is responsible for overseeing the administration of bankruptcy cases and private trustees. The applicable federal law is found at and , et seq. In addition to the twenty-one United States Trustees, the program is administered by the Executive Office for U.S. Trustees (EOUST), located in Washington, D.C., and 95 field offices. The United States Trustee is the federal official charged with enforcing civil bankruptcy laws in the United States. Overview The United States Attorney General generally appoints a separate United States Trustee for each of twenty-one geographical regions for a five-year term. Each United States Trustee is removable from office by and works under the general supervision of the Attorney General (see and ). Each United States Trustee, an officer of the Department of Justice, is responsible for maintaining and supervising a panel of private trustees for Chapter ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Attorney At Law (United States)
An attorney at law (or attorney-at-law) in the United States is a practitioner in a court of law who is legally qualified to prosecute and defend actions in court on the retainer of clients. Alternative terms include counselor (or counsellor-at-law) and lawyer. As of April 2011, there were 1,225,452 licensed attorneys in the United States. A 2012 survey conducted by LexisNexis Martindale-Hubbell determined 58 million consumers in the U.S. sought an attorney in the last year and that 76 percent of consumers used the Internet to search for an attorney. The United States legal system does not draw a distinction between lawyers who plead in court and those who do not, unlike many other common law jurisdictions. For example, jurisdictions in the United Kingdom distinguish between solicitors who do not plead in court, and the barristers of the English and Welsh system and the Northern Ireland system and the advocates of the Scottish system, who do plead in court. Likewise, civil law ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Surety Bond
In finance, a surety , surety bond or guaranty involves a promise by one party to assume responsibility for the debt obligation of a borrower if that borrower defaults. Usually, a surety bond or surety is a promise by a surety or guarantor to pay one party (the ''obligee'') a certain amount if a second party (the ''principal'') fails to meet some obligation, such as fulfilling the terms of a contract. The surety bond protects the obligee against losses resulting from the principal's failure to meet the obligation. The person or company providing the promise is also known as a "surety" or as a "guarantor". Overview A surety bond is defined as a contract among at least three parties: * the ''obligee'': the party who is the recipient of an obligation * the ''principal'': the primary party who will perform the contractual obligation * the ''surety'': who assures the obligee that the principal can perform the task European surety bonds can be issued by banks and surety companies. I ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bankruptcy
Bankruptcy is a legal process through which people or other entities who cannot repay debts to creditors may seek relief from some or all of their debts. In most jurisdictions, bankruptcy is imposed by a court order, often initiated by the debtor. Bankrupt is not the only legal status that an insolvent person may have, and the term ''bankruptcy'' is therefore not a synonym for insolvency. Etymology The word ''bankruptcy'' is derived from Italian ''banca rotta'', literally meaning "broken bank". The term is often described as having originated in renaissance Italy, where there allegedly existed the tradition of smashing a banker's bench if he defaulted on payment so that the public could see that the banker, the owner of the bench, was no longer in a condition to continue his business, although some dismiss this as a false etymology. History In Ancient Greece, bankruptcy did not exist. If a man owed and he could not pay, he and his wife, children or servants were forced into " ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
.png "Click for more on -> Bankruptcy")