Debtor - Law Dictionary Search Results

voluntary transfer

voluntary transfer A transfer of a debtor's property with the debtor's consent. Source: Administrative Office of the U.S. Courts

is no creditors' committee (or the creditors' committee is deemed inactive by the court) and in which the debtor is subject to more oversight by the U.S. trustee than other chapter 11 debtors. The Bankruptcy Code contains

revocatory action

an action brought by a creditor seeking to have set aside a contract made by his or her debtor that increases the debtor's insolvency

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statement of financial affairs

statement of financial affairs A series of questions the debtor must answer in writing, concerning sources of income, transfers of property, lawsuits by creditors, etc. (There is an

proof of claim

proof of claim :a written statement that sets forth a claim against a bankrupt debtor or the probate estate of a deceased debtor

proceeding

collateral proceeding after denial of a direct appeal] core proceeding : a proceeding (as one instituted by a debtor against a creditor) that is integral to the administration of a bankruptcy estate and so falls under the

prebankruptcy planning

prebankruptcy planning The arrangement (or rearrangement) of a debtor's property to allow the debtor to take maximum advantage of exemptions. (Prebankruptcy planning typically includes converting nonexempt assets

pre-packaged bankruptcy

pre-packaged bankruptcy : a bankruptcy plan that has been negotiated between the debtor and creditors prior to the debtor's filing for bankruptcy

objection to dischargeability

objection to dischargeability A trustee's or creditor's objection to the debtor being released from personal liability for certain dischargeable debts. Common reasons include allegations that the debt to be

Garnishee

is garnished a person upon whom garnishment has been served in a suit by a creditor against a debtor such person holding property belonging to the debtor or owing him money

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