us bankruptcy code
81statute — A legislative enactment. The bankruptcy code is a statute. (Bernstein s Dictionary of Bankruptcy Terminology) United Glossary of Bankruptcy Terms 2012. statute A legislative enactment. The bankruptcy code is a statute …
82strong-arm powers — The bankruptcy code gives a trustee rights to reverse (avoid) certain transactions or liens which occurred within various time periods before the petition was filed. The trustee obtains the power that a hypothetical creditor would have had, even… …
83discharge — An order from the Bankruptcy Court releasing the debtor from any and all dischargeable debts which arose prior to the petition date (SA Bankruptcy.com) The legal elimination of debt through a bankruptcy case. When a debt is discharged, it is no… …
84U.S.C. — U.S.C. An abbreviation for the United States Code. The Bankruptcy Code is set forth in title 11 of the United States Code (i.e. 11 U.S.C.) (SA Bankruptcy.com) United Glossary of Bankruptcy Terms 2012 …
85Chapter 13 — 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 13 is referred to as… …
86debtor in possession — (debtor in possession (DIP)) A debtor in possession occurs only in a Chapter 11 case. The debtor is presumed to remain in possession of its assets and business operation, with most of the powers and duties of a trustee. also see trustee,… …
87bankrupt — the entity that files a bankruptcy; the debtor; the insolvent entity. This is a non technical term and is not used in the Bankruptcy Code (Glossary of Common Bankruptcy Terms) A person who has made an assignment or against whom a receiving order… …
88non-dischargeable debt — a debt that cannot be eliminated in bankruptcy (Glossary of Common Bankruptcy Terms) A debt that is excluded from the Debtor s discharge on one or more of the grounds enumerated in the Bankruptcy Code. See 11 U.S.C. § 523 (SA Bankruptcy.com)… …
89debtor-in-possession — (debtor in possession (DIP)) A debtor in possession occurs only in a Chapter 11 case. The debtor is presumed to remain in possession of its assets and business operation, with most of the powers and duties of a trustee. also see trustee,… …
90DIP — (debtor in possession (DIP)) A debtor in possession occurs only in a Chapter 11 case. The debtor is presumed to remain in possession of its assets and business operation, with most of the powers and duties of a trustee. also see trustee,… …
