CH 37 BLAW

To force a debtor.. claims that add up to at least

$15,775

A voluntary petition in bankruptcy must include

a list of the debtor's creditors and amount owed

Shippers Dispatch Company orders office equipment from Office Outfitters, Inc., which has an unperfected security interest in the equipment until it is paid for. Meanwhile, Shippers Dispatch takes out a loan from Capital Credit, Inc., subject to a security interest in Shippers Dispatch's building and equipment, which Capital perfects. Shippers Dispatch files a bankruptcy petition under Chapter 7. If the petition is granted, in what order will Shippers Dispatch's creditors be paid?

1. capital, which has a perfected security interest in shipper's dispatch building and equiptment 2. office outfitters, which has only an unperfected security interest in shipper's dispatch office equipment

Yang files a petition in bankruptcy.. reduces it to money for distribution. Zhen is

a bankruptcy trustee

Under CH11, soon after entry of order for relief

a creditors' committee of unsecured creditors

Gina's creditors attempt to force her bankruptcy proceedings, unsuccessful if

a farmer

Construction Inc.. corp should file a petition in bankruptcy for relief through

a reorganization

A bankruptcy trustee is accountable for

administering the debtor's estate

A discharge most likely to be denied if debtor

all choices

Under CH7 and CH11

all choices

Compared to CH 7 and 11 plans, a CH13 plan

allows a debtor to retain possession oF assets

Baby Day Care, a sole proprietorship, wants to pay as many of its obligations as reasonably possible. proprietorship should file a petition in bankruptcy under CH13 for relief through

an adjustment

Eligible for relief on a petition in bankruptcy under CH11 is

any debtor who's eligible under CH7

Under CH7 proceeds of bankruptcy estate distributed.. remaining debt's

are discharged

In addition to financial statements, each voluntary petition in bankruptcy must include

certificate proving receipt

Under CH7, debtor who fails to appear at the creditors may be

deserved a discharge

On a finding that use of CH7, would constitute abuse, the court would

dismiss the debtor's petition

Under CH7, creditors are paid in a certain order of priority.. compromises claims for

domestic support

With respect to creditors, the goal of bankruptcy law is to

ensure equitable treatment for debtor assets

All bankruptcy proceedings are held in

federal bankruptcy court

An involuntary bankruptcy occurs when a debtor

is forced into bankruptcy

Under bankruptcy code, mean test is used to

keep higher-income people from abusing the process

Dana operates Energy Inc.. firm pays. Energy should file a petition in bankruptcy for relief through

liquidation

CH7 of the Bankruptcy Code provides for

liquidation proceedings

Once proceeds have been distributed obligations.. to be discharged

none of the above

Under CH11, the debtor's obligations most likely to be discharged are

none of the choices

Under CH13, after the completion of all payments, the court will grant a discharge of

only the debts provided for by the plan

With respect to debtors, the goal of bankruptcy law is to

provide new start without creditors claims

If a voluntary petition in bankruptcy is found to be proper, the court's entry of an order for relief

puts into place for an automatic stay

Under CH7 to be entitled to receive portion of debtor's estate... within 90 days of?

the creditor's meeting

Under CH11, a plan to conserve and administer debtor's assets must be submitted to

the creditors and court

Under and CH of bankruptcy code, failing to file necessary docs can result in

the dismissal of the petition

Bankruptcy trustee must determine whether situation warrants relief

the income of other families in the same state

Under CH13, a repayment plan must provide for

the same treatment of each claim

Primary effect of a discharge is to

void a judgement