| Credit Card Debt |
| What is Bankruptcy?More... |
| Contractual Rights |
| The Bankruptcy Code protects the exercise of certain contractual rights by a party to a ''securities contract'' with the debtor to liquidate securities contracts from stays, avoidance and other limitations. The term ''securities contract'' includes contracts for the purchase and sale of securities, options, securities lending agreements, transactions involving certificates of deposit, securities indexes and exchange-traded foreign currency options, and settlement arrangements between securities clearing agencies and their participant members.More... |
| Lien and Transfer Avoidance in Connection with Marital or Family Obligations |
| The Bankruptcy Code contains a number of provisions empowering the trustee, the debtor, or both to avoid various types of liens and other prebankruptcy transfers of the debtor's property. The Bankruptcy Code definition of ''transfer'' includes creation of a lien. The Bankruptcy Code allows the trustee or debtor to nullify or undo prior transactions in order to promote the dual bankruptcy policies of equity among creditors and a fresh start for debtors.More... |
| Abandonment |
| Generally, abandonment of property of an estate is initiated by a trustee. The trustee has the right to retain valuable assets and abandon burdensome property, subject to the court's supervisory control, but cannot accept only the beneficial features and reject the burdens with respect to the same item of property. A trustee should not abandon property that is necessary for the debtor's fresh start or other bankruptcy purposes. More... |
| Equity Security Holders |
| An equity security holder is a holder of an equity security of the debtor in a bankruptcy case. Examples of an equity security are a share in a corporation; an interest of a limited partner in a limited partnership; or a right to purchase, sell, or subscribe to a share, security, or interest of a share in a corporation or an interest in a limited partnership. More... |
Law Office of Michael D. Mahon
