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The pre-BAPCPA language of § 707(b) provided for dismissal of a chapter 7 case upon a finding of "substantial abuse". Under the former § 707(b), only the court or the United States trustee could bring a motion to find abuse under the section. The 2005 amendments removed these restrictions. Post-BAPCPA, § 707(b) provides two definitions of ...
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]
FOIA Exemption 3 Statutes are statutes found to qualify under Exemption 3 of the U.S. Freedom of Information Act, 5 U.S.C.§ 552(b)(3).Under its terms, as amended in 1976 and 2009, a statute qualifies as an "Exemption 3 statute" only if it "(i) requires that the matters be withheld from the public in such a manner as to leave no discretion on the issue; or (ii) establishes particular criteria ...
Title 11 of the United States Code, also known as the United States Bankruptcy Code, is the source of bankruptcy law in the United States Code. [ 1 ] This article is part of a series on the
11 U.S.C. § 105 (power of the bankruptcy court), 11 U.S.C. § 522 (exemptions from bankrupt estate) Siegel , 571 U.S. 415 (2014), is a ruling of the Supreme Court of the United States that describes the extent of the powers of bankruptcy courts in dealing with the bad faith of debtors.
Jacoway, the United States Supreme Court ruled unanimously on April 4, 2005, that under section 522(d)(10)(E) of the United States Bankruptcy Code (11 U.S.C. § 522(d)(10)(E)), a debtor in bankruptcy can exempt his or her IRA, up to the amount necessary for retirement, from the bankruptcy estate. [19]
Chapter 11 of the United States Bankruptcy Code (Title 11 of the United States Code) permits reorganization under the bankruptcy laws of the United States. Such reorganization, known as Chapter 11 bankruptcy, is available to every business, whether organized as a corporation, partnership or sole proprietorship, and to individuals, although it is most prominently used by corporate entities. [1]
Furthermore, Section 109(e) of Title 11, United States Code sets forth debt limits for individuals to be eligible to file under Chapter 13: unsecured debts of less than $419,275, and secured debts of less than $1,257,850. [3] Under Chapter 13, the debtor proposes a plan to pay his or her creditors over a 3-to-5 year period. [4]