Introduction to Bankruptcy Law / Edition 4

Introduction to Bankruptcy Law / Edition 4

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by Martin A. Frey, Phyllis H. Frey, Sidney K. Swinson
     
 

The authors of this publication have taken a practical approach to teaching the intricacies of bankruptcy. To promote reader comprehension, they employ step-by-step explanations and flow charts of each type of filing, supporting case examples, challenging problems to address, and the definition of new terms as they are introduced. To further enhance learning, the… See more details below

Overview

The authors of this publication have taken a practical approach to teaching the intricacies of bankruptcy. To promote reader comprehension, they employ step-by-step explanations and flow charts of each type of filing, supporting case examples, challenging problems to address, and the definition of new terms as they are introduced. To further enhance learning, the roles of the various parties involved in the process are described in detail, particularly the role of the paralegal. From fact gathering and interfacing with clients, to the preparation of various official forms, paralegals will come to understand their role and those of others in handling bankruptcy cases. The most up-to-date official bankruptcy forms with detailed explanations for completing them are contained within the publication, as are debtor and creditor client questionnaires.

Product Details

ISBN-13:
9780766820364
Publisher:
Cengage Learning
Publication date:
07/23/2004
Series:
West Legal Studies
Edition description:
Older Edition
Pages:
650
Product dimensions:
8.00(w) x 9.96(h) x 0.82(d)

Related Subjects

Meet the Author


Martin A. Frey, BSME, JD, LLM,is a Professor Emeritus at The University of Tulsa, Tulsa, Oklahoma, Senior Adjunct Settlement Judge for the United States District and Bankruptcy Courts for the Northern Districts of Oklahoma, and was the Reporter for the Civil Justice Reform Act Advisory Group for the United States District Court for the Northern District of Oklahoma. He was a professor at Drake and Texas Tech Universities and a visiting professor at the University of Maine, Washington University (St. Louis), the University of Alabama, Wake Forest University, Stetson University, and Florida International University. When teaching, Professor Frey served on a number of site visitation teams for the Section on Accreditation and Admission to the Bar of the American Bar Association. Professor Frey currently volunteers with the Financial Crimes Unit of the Tulsa Police Department. He is the author or co-author of "The Little Black Book, A Do-It Yourself Guide for Law School Competitions" (Carolina Academic Press, 2002); "Alternative Methods of Dispute Resolution" (Delmar Learning Thomson, 2003); "Introduction to the Law of Contracts, 4th Edition (Delmar Cengage Learning, 2008); "Introduction to Bankruptcy Law, 6th Edition (Delmar Cengage Learning, 2013); and "Essentials of Contract Law," 2nd Edition (Cengage Learning, 2015).

Sidney K. Swinson, BBA, JD, is a Shareholder, Officer and Director of GableGotwals, Tulsa, Oklahoma, an Adjunct Professor at The University of Tulsa College of Law, a Chapter 7 trustee for the United States Bankruptcy Courts for the Northern and Eastern Districts of Oklahoma, a Fellow of the American College of Bankruptcy, a Director of the Bankruptcy and Reorganization Section of the Oklahoma Bar Association, an Adjunct Settlement Judge for the United States Bankruptcy Court and United States District Court for the Northern District of Oklahoma, a member of the American Bankruptcy Institute and the National Association of Bankruptcy Trustees, the recipient of the Oklahoma Bar Association Courageous Lawyer Award and the John E. Shipp Ethics Award, and a bankruptcy practitioner.

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Table of Contents

Table of Exhibitsxx
Table of Casesxxii
Table of Statutes and Rulesxxiii
Prefacexxxi
Chapter 1The Evolution of Bankruptcy Law1
Section 1Brief History of Modern Bankruptcy Law
A.The Appearance of Bankruptcy in Early English Law2
B.Treatment of Bankruptcy in the United States Constitution2
C.Early American Bankruptcy Statues2
D.The Bankruptcy Act of 18983
E.The Bankruptcy Reform Act of 19784
F.Amendments to the Bankruptcy Reform Act of 19785
G.Future Bankruptcy Reform7
Section 2The Dual Nature of Bankruptcy as a Remedy for Both Creditors and Debtors
Chapter 2Bankruptcy Law and Where to Find It9
Section 1The Bankruptcy Code
A.The Universal Chapters13
B.The Operative Chapters17
Section 2The Federal Rules of Bankruptcy Procedure and Official Forms
A.The Federal Rules of Bankruptcy Procedure and Official Forms20
B.The Local Rules21
Section 3Bankruptcy Law Cases
Section 4Secondary Authority
A.Legislative History24
B.Digests25
C.Loose-leaf Services25
D.Treatises25
E.Legal Periodicals26
F.American Law Reports27
G.Legal Encyclopedias27
H.Internet Resources27
Chapter 3The Cast of Characters and Their Roles in the Bankruptcy Process29
Section 1The Debtor, the Debtor's Attorney, and the Paralegal
A.The Debtor30
B.The Debtor's Attorney31
C.The Paralegal32
Section 2The Bankruptcy Petition Preparer
Section 3The Creditors and Other Parties in Interest
A.Creditors34
B.Other Parties in Interest39
Section 4The Administrative Office of the United States Courts
Section 5The Bankruptcy Judge and Staff
A.The Bankruptcy Judge42
B.The Judge's Law Clerk, Judicial Assistant, and Courtroom Deputy43
C.The Court Reporter43
Section 6The Office of the Clerk of the Bankruptcy Court
A.The Bankruptcy Court Clerk43
B.The Deputy Clerks44
Section 7The United States Trustees, Private Trustees, and Examiners
A.The United States Trustees45
B.Private Trustees46
C.Examiners49
Chapter 4Information Gathering, Analysis, Counseling, and Drafting50
Section 1The Debtor-Client
A.Information Gathering52
B.Analysis: Nonbankruptcy or Bankruptcy65
C.Counseling76
D.Drafting of Bankruptcy Forms76
Section 2The Creditor-Client
A.The Causes of the Creditor's Distress77
B.Information Gathering77
C.Analysis: If the Debtor Has Filed Bankruptcy77
D.Analysis: Alternatives If the Debtor Has Not Filed Bankruptcy80
E.Counseling85
Section 3The Debtor-Client in an Involuntary Bankruptcy
A.Information Gathering85
B.Analysis86
C.Counseling86
Chapter 5The Voluntary Chapter 7 Bankruptcy (Liquidation)88
Section 1The Initiation of a Chapter 7 Case
Section 2The Filing of the Petition
A.The Debtor's Petition (Official Form No. 1)103
B.The Filing Fee112
C.The Clerk's Notice115
D.Corporate Resolution Authorizing Filing of Chapter 7117
E.Disclosure of Attorney's Compensation Statement118
F.The List of Creditors121
G.Schedules (Official Form No. 6)122
H.Statement of Financial Affairs168
I.Statement of Intention If the Debtor Is an Individual with Consumer Debts190
J.Debtor's Duty to Supplement the Schedules192
K.Debtor's Right to Amend the Petition, Lists, Schedules, and Statements193
Section 3The Significance of Filing a Petition
A.The Order for Relief194
B.The Estate Is Created194
C.Exemptions201
D.The Automatic Stay207
Section 4The Appointment and Powers of an Interim Trustee
A.Abandon Property of the Estate213
B.Assume or Reject Executory Contracts214
C.Avoiding Transfers215
Section 5Proofs of Claim and Proofs of Interest
A.Creditors' and Indenture Trustees' Proofs of Claim230
B.Equity Security Holders' Proofs of Interest230
Section 6Motions and Complaints after the Order for Relief
A.Motions234
B.Complaints252
Section 7Order and Notice of Chapter 7 Bankruptcy Filing, Meeting of Creditors, and Fixing of Dates
Section 8Objections by a Party in Interest to Debtor's Claim of Exemptions
Section 9Meeting of Creditors (The Section 341 Meeting) and Meeting of Equity Security Holders
A.The Meeting of Creditors270
B.The Meeting of Equity Security Holders271
Section 10Redemption, Discharge and Reaffirmation
A.Redemption271
B.Discharge and Reaffirmation271
C.Revocation of Discharge272
Section 11Distribution of the Property of the Estate
A.Priority Claims278
B.Nonpriority Claims280
Section 12Closing the Case
A.Trustee's Final Report and Proposed Distribution281
B.Trustee's Final Account after Distribution and Request for Discharge281
C.Closing the Case281
Section 13After the Case Is Closed
A.Amending the Case without Reopening the Case294
B.Reopening a Closed Case294
Chapter 6The Chapter 13 Bankruptcy (Adjustment of Debts of an Individual with Regular Income)298
Section 1The Initiation of a Chapter 13 Case
Section 2The Chapter 13 Plan
A.Contents of a Chapter 13 Plan308
B.The Debtor's Payments under the Plan318
C.Modification of the Plan before Confirmation318
Section 3The Filing of the Petition
Section 4The Significance of Filing a Petition
A.Possession and Control of Property of the Estate321
B.Operation of the Debtor's Business321
C.Exemptions321
Section 5Appointment and Duties of a Chapter 13 Trustee
Section 6Motions and Complaints after the Order for Relief
A.Motions323
B.Complaints325
Section 7The Clerk's Notice
Section 8Meeting of Creditors (The Section 341 Meeting)
Section 9Hearing on Confirmation of the Plan
Section 10Trustee's Distribution of Payments under the Plan
Section 11Modification of the Plan after Confirmation
Section 12Revocation of Order of Confirmation
Section 13Discharge
Section 14Revocation of the Discharge
Section 15Closing the Case and Proceedings after the Case Is Closed
Chapter 7The Chapter 12 Bankruptcy (Adjustment of Debts of a Family Farmer with Regular Annual Income)344
Section 1The Initiation of a Chapter 12 Case
Section 2The Chapter 12 Plan
A.Contents of a Chapter 12 Plan357
B.The Debtor's Payments under the Plan358
C.Modification of the Plan before Confirmation363
Section 3The Filing of the Petition
Section 4The Significance of Filing a Petition
A.Possession and Control of Property of the Estate: The Debtor in Possession368
B.Operation of the Debtor's Business368
C.Exemptions369
Section 5Appointment and Duties of a Chapter 12 Trustee
Section 6Motions and Complaints after the Order for Relief
A.Motions371
B.Complaints374
Section 7The Clerk's Notice
Section 8Meeting of Creditors (The Section 341 Meeting)
Section 9Hearing on Confirmation of the Plan
Section 10Trustee's Distribution of Payments under the Plan
Section 11Modification of the Plan after Confirmation
Section 12Revocation of Order of Confirmation, Conversion, or Dismissal
Section 13Discharge
Section 14Revocation of the Discharge
Section 15Closing the Case and Proceedings after the Case Is Closed
Chapter 8The Voluntary Chapter 11 Bankruptcy (Reorganization)388
Section 1The Initiation of a Chapter 11 Case
Section 2The Chapter 11 Petition and the Significance of Filing a Chapter 11 Petition
A.The Filing of the Chapter 11 Petition395
B.The Significance of Filing a Petition401
C.Evidence of Debtor in Possession (DIP) Status405
D.Exemptions405
Section 3The Chapter 11 Plan
A.Strategies Utilized in Reorganization Plans407
B.Contents of a Chapter 11 Plan413
C.Modification of a Chapter 11 Plan415
D.Chapter 11 Plan Filed by Parties Other Than the Debtor422
Section 4A Disclosure Statement or Evidence Showing Compliance with 11 U.S.C.A. [Section] 1126(b)
Section 5Order and Notice of Chapter 11 Bankruptcy Filing, Meeting of Creditors, and Fixing of Dates
Section 6Motions and Complaints
A.Motions435
B.Complaints435
Section 7Appointment of a Committee of Unsecured Creditors and a Committee of Equity Security Holders
Section 8Meeting of Creditors (The Section 341 Meeting) and Meeting of Equity Security Holders
Section 9Hearing on the Disclosure Statement
Section 10Hearing on Confirmation of the Plan
Section 11Effect of Confirmation of the Plan
Section 12Distribution under the Plan and Reporting by Debtor in Possession or Chapter 11 Trustee
Section 13Revocation of an Order of Confirmation
Section 14Final Report and Final Decree
Chapter 9Selecting the Appropriate Type of Bankruptcy Filing458
Section 1Eligibility
Section 2Selecting the Chapter If the Debtor Is Eligible under Multiple Chapters
A.The Business Debtor464
B.The Nonbusiness Debtor467
Chapter 10The Involuntary Bankruptcy: Chapter 7 or Chapter 11473
Section 1Limitations on Filing an Involuntary Petition
A.Debtors Who May Be Subject to an Involuntary Petition474
B.Requirements of a Petitioning Creditor474
Section 2Flow Chart for the Involuntary Petitions
Section 3The Filing of the Creditors' Petition
Section 4The Significance of Filing a Petition
A.The Order for Relief, the Bankruptcy Estate, and the Automatic Stay485
B.Appointment of a Trustee485
C.Gap Period Creditors485
Section 5The Debtor's Answer
Section 6Hearing and Disposition of an Involuntary Petition
A.The Order for Relief486
B.Dismissal of an Involuntary Petition490
Appendix AInterview Questionnaire for the Debtor-Client493
Appendix BInterview Questionnaire for the Creditor-Client538
Appendix CChapter 9--Debts of Municipalities540
Glossary542
Index550

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