us bankruptcy code
111means test — Added to the Code in 2005, the means test is intended to screen out those filing Chapter 7 who are supposedly able to repay some part of their debts. The test is found in Official Form B22a. Debtors who fail the means test may convert their case… …
112committee — The code directs or allows committees to appear and act on behalf of various classes of creditors. Generally, there is a committee of unsecured creditors in a Chapter 11 case. There also may be committees of equity security holders (shareholders) …
113redemption of collateral — A creditor may have a lien on personal property of a debtor where the value of the property is less than the amount due. In that event, the code allows a debtor to pay the creditor the value of the property, rather than the balance due and… …
114non dischargeable — A debt that cannot be eliminated in bankruptcy. Non dischargeable debts remain legally enforceable despite the bankruptcy discharge. The Code s list of non dischargeable debts is found at 11 U.S.C. 523. The scope of the discharge in Chapter 13… …
115priority claims — administrative expenses and salaries, wages, employee benefits, customer deposits and taxes which occurred pre petition (Glossary of Common Bankruptcy Terms) Certain debts, such as unpaid wages, spousal or child support, and taxes are elevated in …
116secured claim — A loan or debt for which some form of property has been pledged or mortgaged (SA Bankruptcy.com) Where a claim is secured by a lien, the code limits that secured claim to the value of the property less any higher priority liens. Since the… …
117person — Under Title 11 U.S.C. Section 101: (41) The term person includes individual, partnership, and corporation, but does not include governmental unit, except that a governmental unit that (A) acquires an asset from a person (i) as a result of the… …
118Toibb v. Radloff — Infobox SCOTUS case Litigants = Toibb v. Radloff ArgueDate = April 22 ArgueYear = 1991 DecideDate = June 13 DecideYear = 1991 FullName = Sheldon Baruch Toibb v. Stuart J. Radloff USVol = 501 USPage = 157 Citation =… …
119General Motors Chapter 11 reorganization — The General Motors Chapter 11 sale of the assets of automobile manufacturer General Motors and some of its subsidiaries was implemented through section 363 of Chapter 11, Title 11, United States Code in the United States Bankruptcy Court for the… …
120Pension Benefit Guaranty Corporation — (United States) Agency overview Formed September 2, 1974 …
