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On 29 September 2011 Stirling Energy Systems filed for Chapter 7 bankruptcy, due to falling PV prices caused by subsidized Chinese Photo Voltaic. In April 2012 the Maricopa Solar plant in Phoenix, Arizona was bought by United Sun Systems (Now TEXEL Energy Storage) in a joint venture with a Chinese/American corporation. [4]
Chapter 7 of Title 11 U.S. Code is the bankruptcy code that governs the process of liquidation under the bankruptcy laws of the U.S. In contrast to bankruptcy under Chapter 11 and Chapter 13, which govern the process of reorganization of a debtor, Chapter 7 bankruptcy is the most common form of bankruptcy in the U.S. [1]
The U.S. Bankruptcy Court also charges fees. The amounts of these fees vary depending on the Chapter of bankruptcy being filed. As of 2016, the filing fee is $335 for Chapter 7 and $310 for Chapter 13. [52] It is possible to apply for an installment payment plan in cases of financial hardship.
For individuals, there are two main types of bankruptcy: Chapter 7 and Chapter 13. Chapter 7 bankruptcy involves the liquidation of assets. In Chapter 7, the debtor’s non-exempt assets are sold ...
Chapter 13 bankruptcy is the more expensive form of bankruptcy. Unlike Chapter 7, which involves selling off most of your belongings, Chapter 13 reorganizes your financial life and debts, giving ...
Once you move forward with Chapter 7 or Chapter 13 bankruptcy, four possible scenarios might play out. All of your student loans and other debts are discharged. Your loans are partially discharged.
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