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Bankruptcy and Insolvency Adjudicator: The Code proposes two separate tribunals to oversee the process of insolvency resolution, for individuals and companies: (i) the National Company Law Tribunal for Companies and Limited Liability Partnership firms; and (ii) the Debt Recovery Tribunal for individuals and partnerships.
Thirty days after your Chapter 13 filing date, you are required to begin making plan payments to the bankruptcy trustee for your case. This is required even if the court hasn’t fully approved ...
The study found that "about half" of bankruptcy filers in the year 2001 cited out-of-pocket medical bills in excess of $10,000 as a major contributor to bankruptcy (the average bankruptcy filer in this study was a 41-year-old woman with a median income of $25,000, slightly below the personal income average for that year).
The Companies' Creditors Arrangement Act [1] (CCAA; French: Loi sur les arrangements avec les créanciers des compagnies) is a statute of the Parliament of Canada that allows insolvent corporations owing their creditors in excess of $5 million to restructure their businesses and financial affairs.
If you fall more than one month behind on your Chapter 13 payments, the trustee may file a “Motion to Dismiss for Material Default.” If the court grants the order, your Chapter 13 case would ...
] Bankruptcy and foreclosure discharges the obligation to pay mortgage interest, but not mortgage principal. [31]: 219 If mortgage principal is not paid, the debtor is placed on a list of untrustworthy people. [31]: 219
NEW YORK (Reuters) -A U.S. bankruptcy judge on Friday approved Rite Aid's restructuring plan, allowing the pharmacy chain to cut its debt by $2 billion and turn over control to a group of lenders.
In law, a motion to set aside judgment is an application to overturn or set aside a court's judgment, verdict or other final ruling in a case. [1] [2] Such a motion is proposed by a party who is dissatisfied with the result of a case. Motions may be made at any time after entry of judgment, and in some circumstances years after the case has ...