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Bankruptcy: An Overview of the Process and Selected Topics

Bankruptcy: An Overview of the Process and Selected Topics. Bruce J. Ruzinsky, Esq. Matthew D. Cavenaugh, Esq. Overview. I. Chapters of the Bankruptcy Code II. Key Concepts III. Points of Interest for Paralegals. Key Concepts. Property of the Estate Cash Collateral Automatic Stay

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Bankruptcy: An Overview of the Process and Selected Topics

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  1. Bankruptcy: An Overview of the Process and Selected Topics Bruce J. Ruzinsky, Esq. Matthew D. Cavenaugh, Esq.

  2. Overview • I. Chapters of the Bankruptcy Code • II. Key Concepts • III. Points of Interest for Paralegals

  3. Key Concepts • Property of the Estate • Cash Collateral • Automatic Stay • Executory Contracts • Avoidance Actions • Discharge / • Dischargeability • Turnover • Plan / • Disclosure Statement

  4. What is it? How does it affect you? Property of the Estate

  5. What is it? Restrictions on use. Cash collateral

  6. What is it? Exceptions: where the automatic stay does not apply. Relief from the automatic stay. Automatic stay

  7. What are they? Assumption and Rejection. Executory contracts

  8. How does a Debtor get one? Litigation. Discharge / dischargeability

  9. Property of the Estate Exception: Right of Setoff turnover

  10. Preferences and Fraudulent Transfers The Debtor giveth, and the Trustee taketh away! Avoidance actions

  11. Gotta have a plan. Plan / disclosure statement

  12. This may interest you… • Exemptions. • Proofs of Claim. • Schedules / Statement of Financial Affairs • Preference Exposure / Liability Analysis • Section 341 Meetings • Testimony in Court

  13. The Homestead “Tools of the Trade” Exemptions

  14. A written statement and verifying documentation filed by a creditor that describes the reason the debtor owes the creditor money. (There is an official form for this purpose.) Proof of claim

  15. Schedules and statement of financial affairs

  16. Don’t look now, but you may be exposed… Preference exposure

  17. Debtor Trustee CRO Committee Creditors Equity Interest Holders Asset Purchasers Who you may represent in a bankruptcy case

  18. Section 341 Meeting Initial Debtor Conference Rule 2004 Exams Required meetings

  19. “Do you solemnly swear…” Testimony in court

  20. Questions?

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