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July 20, 2010
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Federal & State Bankruptcy Laws

 


Bankruptcy law provides for the development of a plan that allows a debtor, who is unable to pay his creditors, to resolve his debts through the division of his assets among his creditors. The following is list of laws related to Bankruptcy:

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Did You Know?    
 
 
Special purpose entities in bankruptcy can be used
A business, usually a special-purpose entity, established to perform limited functions and to have one or a few primary creditors. This type of entity is sometimes established to protect lenders on large, complex projects, when the lender is to be paid solely or almost exclusively out of the money generated when the project becomes operational.

 


  Newsroom  
 


News about Bankruptcy in South Dakota and nationwide:

Definitions Accountant Continue On Page...2
(16) “equity security” means— (A) share in a corporation, whether or not transferable or denominated “stock”, or similar security; (B) interest of ...
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The Honorable Jed Rakoff Approves Settlement of SEC'S Claim for a Civil Penalty Against Worldcom
In its Opinion and Order, the Court concluded that "the proposed settlement is not only fair and reasonable but as good an outcome as anyone could ...
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U.S. Trustee Program Launches Bankruptcy Civil Enforcement Initiative
WASHINGTON, D.C. The United States Trustee Program has launched an initiative to more aggressively use existing civil enforcement methods to curb a...
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More Bankruptcy News >

 
 

Bankruptcy Terms

 


Today's Terms

Bankruptcy Court

Definition:
The federal tribunal where cases under the Bankruptcy Code are litigated.

Chapter Thirteen

Definition:
Bankruptcy proceedings for an individual with the intention of rescheduling the individual's debt (rather than liquidating the individual's assets and debt; an individual files under Chapter 7 to liquidate);

Chapter Twenty Two

Definition:
An unofficial term describing a company that has filed for Chapter 11 twice.

More Bankruptcy Terms >

Bankruptcy Resources

 


Search Bankruptcy resources in our resource center:

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Bankruptcy Hot Topics

 
Topics Related to Bankruptcy:

  • Chapter 7
  • Chapter 13
  • Chapter 11
  • Chapter 12
  • Chapter 9

More Bankruptcy Topics >


South Dakota Bankruptcy Attorney

 
If you live in the following cities and need a Bankruptcy attorney you should contact our Bankruptcy Attorney as soon as possible:

  • Aberdeen
  • Brookings
  • Huron
  • Mitchell
  • Pierre
  • Rapid City
  • Sioux Falls
  • Spearfish
  • Vermillion
  • Watertown
  • Yankton
 


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