Federal Bankruptcy Law

10 Pages 2547 Words

RESEARCH PAPER OUTLINE

Topic. Federal Bankruptcy Law

Thesis. Bankruptcy and reorganization is a complicated process. If the situation should ever arise an individual needs to know which Chapter suits his or her needs.

A. Federal Bankruptcy Code
a. Explanation of the origin
b. Federal Bankruptcy Law
c. Jurisdiction of courts

B. Chapter 7 Liquidation Bankruptcy
a. Procedure
i. Filing a petition
ii. Meeting of creditors
iii. Appointment of trustee
iv. Proof of claims
b. Automatic stay
c. Case dismissal
d. Alternatives to Chapter 7 Bankruptcy
e. Discharge

C. Chapter 11 Reorganization Bankruptcy
a. Why choose Chapter 11
b. Plan of reorganization
i. Who develops the plan
ii. Steps in the plan
c. Discharge

D. Chapter 13 Consumer Debt Adjustment
a. Chapter 13 eligibility
b. Important features
c. Filing
d. Automatic stay
e. Plan of payment
f. Confirmation of the plan
g. Discharge

E. Chapter 13 or Chapter 7

F. Rights of Creditors

G. Conclusion
Thesis
Bankruptcy and reorganization is a complicated process. If the situation should ever arise an individual needs to know which Chapter suits his or her needs.
Federal Bankruptcy Code
The original Bankruptcy Act was enacted by Congress in 1878. In 1938 it was amended by the Chandler Act and completely revised again in 1978 by the Bankruptcy Reform Act that became effective on October 1, 1979. In 1984 the Bankruptcy Amendments and Federal Judgeship Act made bankruptcy courts part of the federal district court system and attached one to each district. The president appoints bankruptcy judges for 14-year terms. The term Bankruptcy Code refers to the amended act of 1978.
Article I, section 8, clause 4 of the U.S. Constitution provides that “The Congress shall have the . . . to establish . . . uniform laws on the subject of bankruptcies throughout the United States.” Federal bankruptcy law establishes procedures for filing for bankr...