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After more than a year of negotiations, the Easterday bankruptcy settlement is nearing a conclusion for dozens of businesses owed money.. At a recent hearing, lawyers and Judge Whitman Holt of the ...
A federal bankruptcy judge has approved the terms of a $20 million settlement that will benefit former Bitwise Industries employees who abruptly lost their jobs when the Fresno-based technology ...
The Supreme Court blew up the massive bankruptcy reorganization of opioid maker Purdue Pharma, finding that the settlement inappropriately included legal protections for the Sackler family ...
Chapter 7 of Title 11 U.S. Code is the bankruptcy code that governs the process of liquidation under the bankruptcy laws of the U.S. In contrast to bankruptcy under Chapter 11 and Chapter 13, which govern the process of reorganization of a debtor, Chapter 7 bankruptcy is the most common form of bankruptcy in the U.S. [1]
Other than their connection to a bankruptcy proceeding, adversary proceedings are largely similar to a standard lawsuit in federal district court. The suit is opened by a complaint filed with the Bankruptcy Court, and proceeds through the same stages of litigation, including discovery and trial (including jury trial in appropriate cases).
Chapter 11 of the United States Bankruptcy Code (Title 11 of the United States Code) permits reorganization under the bankruptcy laws of the United States. Such reorganization, known as Chapter 11 bankruptcy, is available to every business, whether organized as a corporation, partnership or sole proprietorship, and to individuals, although it is most prominently used by corporate entities. [1]
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