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Liability for a claim.
- Browse Related Terms: administrative claim, consumer debt, consumer debts, Debt, discharge, dischargeable debt, insider (of corporate debtor), insider (of individual debtor), Net Income, net worth, objection to dischargeability, substantive consolidation
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A person or business that owes money to another person or business.
A person who has filed a petition for relief under the Bankruptcy Code.
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The management of a business in a Chapter 11 reorganization that continues to operate and control the debtor after the petition is filed, unless the court orders otherwise.
- Browse Related Terms: amortize, ballot, bankruptcy, chapter 11, chapter 13, chapter 15, chapter 9, confirmation, Conversion, creditors committee, debtor-in-possession, exclusivity period, no-asset case, Plan, plan of reorganization, preference or preferential debt payment, reaffirmation agreement, reorganization
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A judgment rendered because of the defendants failure to answer or appear.
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In an Adversary Proceeding, the person complained against; in a criminal case, the person accused of the crime.
An individual (or business) against whom a lawsuit is filed.
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An oral statement made before an officer authorized by law to administer oaths. Such statements are often taken to examine potential witnesses, to obtain discovery, or to be used later in trial.
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A release of a debtor from personal liability for certain dischargeable debts set forth in the Bankruptcy Code. (A discharge releases a debtor from personal liability for certain debts known as dischargeable debts and prevents the creditors owed those debts from taking any action against the debtor to collect the debts. The discharge also prohibits creditors from communicating with the debtor regarding the debt, including telephone calls, letters, and personal contact.)
A legal device that prevents creditors from trying to collect prebankruptcy debts from debtors after a bankruptcy is over.
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A debt for which the Bankruptcy Code allows the debtor's personal liability to be eliminated.
- Browse Related Terms: administrative claim, consumer debt, consumer debts, Debt, discharge, dischargeable debt, insider (of corporate debtor), insider (of individual debtor), Net Income, net worth, objection to dischargeability, substantive consolidation
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Gives creditors in Chapter 11 reorganization information to use in deciding whether to vote to accept or reject a plan of reorganization.
A written document prepared by the chapter 11 debtor or other plan proponent that is designed to provide "adequate information" to creditors to enable them to evaluate the chapter 11 plan of reorganization.
- Browse Related Terms: 341 meeting, chapter 12, chapter 7, claims bar date, credit counseling, creditors' meeting, debtor education, disclosure statement, family farmer, family farmer or family fisherman, means test
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Lawyers examination, before trial, of facts and documents in possession of the opponents to help the lawyers prepare for trial.
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Process by which a court will terminate a case. With Prejudice - cannot refile. Without Prejudice - can refile at a later date.
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Process under a plan of reorganization wherein proceeds of an estate are paid to various classes of claimants.
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Payment a creditor receives from a debtors estate.
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A log containing brief entries of court proceedings.
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