Chapters of The Bankruptcy Code
Entities seeking relief under the Bankruptcy Code may file a petition for relief under a number of different chapters of the Code, depending on circumstances. Title 11 contains nine chapters, six of which provide for the filing of a petition. The other three chapters provide rules governing bankruptcy cases in general. A case is typically referred to by the chapter under which the petition is filed. These chapters are described below.
Read more about this topic: Bankruptcy In The United States
Famous quotes containing the words chapters, bankruptcy and/or code:
“Never did I read such tosh. As for the first two chapters we will let them pass, but the 3rd 4th 5th 6th—merely the scratching of pimples on the body of the bootboy at Claridges.”
—Virginia Woolf (1882–1941)
“The heritage of the American Revolution is forgotten, and the American government, for better and for worse, has entered into the heritage of Europe as though it were its patrimony—unaware, alas, of the fact that Europe’s declining power was preceded and accompanied by political bankruptcy, the bankruptcy of the nation-state and its concept of sovereignty.”
—Hannah Arendt (1906–1975)
“...I had grown up in a world that was dominated by immature age. Not by vigorous immaturity, but by immaturity that was old and tired and prudent, that loved ritual and rubric, and was utterly wanting in curiosity about the new and the strange. Its era has passed away, and the world it made has crumbled around us. Its finest creation, a code of manners, has been ridiculed and discarded.”
—Ellen Glasgow (1873–1945)