Share |

Bankruptcy

Overview

Bankruptcy law allows debtors, who are unable or partially unable to pay outstanding debts, to rid themselves of these debts and obtain a fresh start. As stated by the United States Supreme Court, bankruptcy gives "the honest but unfortunate debtor ... a new opportunity in life and a clear field for the future, unhampered by the pressure and discouragement of preexisting debt." (Local Loan Co. v. Hunt, 292 U.S. 234, 244 (1934)).

Federal bankruptcy law consists of statutes published in the Bankruptcy Code (11 U.S.C. § 101-1330). In addition, state statutory law on bankruptcy also address areas delegated to states or not covered by federal law. Debtors usually file bankruptcy cases in Federal Bankruptcy Court (an adjunct of the Federal District Courts).

Featured CasesSubscribe

  • NIFONG v. EVANS et al

    North Carolina Middle District Court
    None
    Filed: June 30, 2008
    Appellant: MICHAEL B. NIFONG, Appellee: DAVID F. EVANS, COLLIN FINNERTY, READE SELIGMANN, Debtor: MICHAEL B. NIFONG, Interested Party: MICHAEL D. WEST, Trustee: SARA A. CONTI
    Last Docket Filed: December 4, 2008
  • Grochocinski v. Mayer Brown Rowe & Maw LLP et al

    Plaintiff as Chapter 7 Trustee for the bankruptcy estate of CMGT, Inc. filed suit against Mayer Brown Rowe and Maw, LLP, Ronald Given and Charles W. Trautner for legal malpractice. Plaintiff alleged that Mayer Brown advised CMGT not to respond to Spehar Capital's motion for TRO. As a result, Spehar obtained a TRO and later a default judgment against CMGT for $17 million. Spehar then used the $17 million default judgment to file an involuntary petition for bankruptcy against CMGT.
    Illinois Northern District Court
    Contract: Other
    Filed: October 10, 2006
    Plaintiff: David Grochocinski; Defendant: Mayer Brown Rowe & Maw LLP, Ronald B Given
    Last Docket Filed: November 6, 2007
  • Leo Stoller vs. Google Inc

    Leo Stoller appealed three orders issued by the Bankruptcy Court: an order denying a motion to dismiss, another order denying a motion to stay, and an order denying a motion for leave to object to the claims.
    Illinois Northern District Court
    Bankruptcy Appeal (801)
    Filed: January 8, 2007
    Appellant: Leo Stoller Creditor: Pure Fishing, Inc. Appellee: Google Inc
    Last Docket Filed: September 26, 2007

DocketsSubscribe

  • Pilgrims Pride Corporation v. Pool et al

    Texas Northern District Court
    Withdrawal
    Filed: February 9, 2010
    Plaintiff: Pilgrims Pride Corporation, Pilgrims Pride Corporation, Pilgrims Pride Corporation Defendant: Charles Pool, Charles Pool, Brenda Pool, Brenda Pool
  • Hytken et al

    Texas Southern District Court
    Appeal
    Filed: February 9, 2010
    Appellant: Kent B. Hytken, HPGP, LLC
  • Butler et al v. Moore et al

    Massachusetts District Court
    Withdrawal
    Filed: February 9, 2010
    Plaintiff: Joseph G. Butler, Joseph G. Butler, Joseph G. Butler, Joseph G. Butler, John Strachan and others... Defendant: Edward T. Moore, Edward T. Moore, Edward T. Moore, Lawrence W. Rosenfeld, Lawrence W. Rosenfeld and others...
  • Jordy et al v. The Education Resources

    Tennessee Eastern District Court
    Appeal
    Filed: February 8, 2010
    Appellant: Donny L Jordy, Elissica L. Jordy Appellee: The Education Resources In Re: Donny L Jordy, Elissica L. Jordy

LegislationSubscribe

ArticlesSubscribe