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Compensation for Professionals

The Bankruptcy Code provides the statutory authority for compensating the services and reimbursing the expenses of officers of the estate. These claims are afforded first priority in the distribution of an estate. The Bankruptcy Code prescribes...

Chapter 12 Discharge

Upon successful completion of all payments under a Chapter 12 plan, the debtor will receive a "discharge," which extinguishes the debtor's obligation to pay any unsecured debts that were included in the plan, even though they may not have been...

Disclosure Statements

Debtors must report assets, liabilities, contested claims, and other business affairs. The purpose of these disclosures is to allow creditors an opportunity to evaluate proposed plans. Disclosure statements must contain "adequate information."...

Contested Matters

Whenever there is an actual dispute, other than an adversary proceeding, before the bankruptcy court, the litigation to resolve that dispute is a contested matter. For example, the filing of an objection to a proof of claim, to a claim of...

Introduction to Chapter 11 Bankruptcy

You may have heard a news report about a company that has emerged from Chapter 11 so that it can continue doing business. Similarly, you may have read about how a financially troubled company proposes, in its Chapter 11 reorganization plan, to...