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Lecture Notes: Bankruptcy |
Who is a debtor under the bankruptcy law: when can a person take advantage of bankruptcy law?
Classification
of Claims: How does bankruptcy law classify claims against the debtor?
-Bankruptcy Judge and Staff, consisting of the Clerk, Secretary, and Court Reporter.Trustees:
-U.S. Trustee: The U.S. Attorney General appoints trustees for each of the 21 federal judicial regions. Trustees serve at the pleasure of the A.G. The U.S. trustee has some exclusive rights, as, when a debtor doesn't file disclosure documents. The U.S. trustee in turn is responsible for the private trustees.
Private Trustee: Not a government employee, but hired to administer bankruptcy cases.
An interim trustee is a private trustee appointed for Chapter 7 cases.
A standing trustee is a private trustee appointed to Chapter 12 and 13 cases..
An Examiner may be appointed by the judge to investigate the debtor in Chapter 11 cases, where there's no trustee and no confirmed plan.
Equity security holders - A simple example would be an individual who owns shares of stock in a debtor corporation.
Indenture trustee: A trustee has an interest in property of the debtor which is being used as security to assure payment of a debt.
Statutory lienholders: Statutes may give certain workmen a statutory claim over certain property, to assure that they will be paid for services performed.
Lessors: the owner of property occupied by the debtor under lease.