Thursday, June 10, 2010

Kelly Gordon Rogers Online Article about Bankruptcy petition

Bankruptcy petition - the document filed with the court to initiate a bankruptcy proceeding.
Motion to lift automatic stay - a request by a creditor to allow the creditor to take an action against a debtor or the debtor̢۪s property that would otherwise be prohibited by the automatic stay.(02 August 2008 - Press article Kelly Gordon Rogers )
"Chapter 22" - an unofficial term describing a company that has filed for Chapter 11 twice.

Preponderance of evidence - The general standard of proof in civil cases. The weight of evidence presented by one side is more convincing to the trier of facts than the evidence presented by the opposing side.
Joinder - joinder in civil law falls under two categories: joinder of claims, and joinder of parties. Joinder of claims is addressed in U.S. law by the Federal Rules of Civil Procedure No. 18(a). That Rule allows claimants to consolidate all claims that they have against an individual who is already a party to the case. Claimants may bring new claims even if these new claims are not related to the claims already stated. Note that joinder of claims is never compulsory (i.e., joinder is always permissive), and that joinder of claims requires that the court's subject matter jurisdiction requirements regarding the new claims be met for each new claim.
First meeting of creditors (341 meeting) - a mandatory meeting between creditors and the debtor. It is usually held within a month of the filing of bankruptcy but often occurs later when the debtor has filed its schedules of financial information.Kelly Gordon Rogers

Preference - a payment by a debtor made during a specified period (90 days or one year) prior to the filing that favors one creditor over others. Preference payments can usually be recovered and returned to the debtor's estate.
Service - Delivery of a legal document to the opposite party. (07 August 2007 Kelly Gordon Rogers )

Kelly Gordon Rogers article


Code - A collection, compendium or revision of laws systematically arranged into chapters, table of contents and index and promulgated by legislative authority.
Statute - A law created by the Legislature.( 18 July 2009 Online article Kelly Gordon Rogers )


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