Kelly Gordon Rogers Online Article - General jurisdiction

Kelly Gordon Rogers

Costs - An allowance for expenses in prosecuting or defending a suit. Ordinarily does not include attorney's fees. Kelly Gordon Rogers
Challenge for cause - A request by a party that the court excuse a specific juror on the basis that the juror is biased.
General jurisdiction - Refers to courts that have no limit on the types of criminal and civil cases they may hear. Superior courts are courts of general jurisdiction.
Administrative claim (or administrative expense claim) - debt incurred by the debtor, with court approval, after the bankruptcy filing including: necessary costs of preserving the estate, wages, salaries, court costs, lawyers' fees, accountants' fees, trustees' expenses, etc.
Kelly Gordon Rogers: 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.
Statute of limitations - Law which specifies the time within which parties must take judicial action to enforce their rights.

Kelly Gordon Rogers

Automatic stay - the suspension of actions, such as debt collection or foreclosure, against the company in bankruptcy. This occurs automatically when a bankruptcy petition is filed. This action protects the debtor from creditors seeking to seize its assets. It protects some creditors in that it prevents one creditor from obtaining an excessive share of the assets of the bankrupt company to the exclusion of the other creditors.
Lay - non-professional; for example: a lawyer would call a non-lawyer a lay person and a doctor would call a non-doctor a lay person. Kelly Gordon Rogers
Lien - a charge upon a specific property designed to secure payment of a debt or performance of an obligation.
Kelly Gordon Rogers Assume - an agreement to continue performing duties under a contract or lease.


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Kelly Gordon Rogers - Contempt of court

Kelly Gordon Rogers

Lay - non-professional; for example: a lawyer would call a non-lawyer a lay person and a doctor would call a non-doctor a lay person. Kelly Gordon Rogers
Claims - rights to repayment made by creditors against a debtor; they may be liquidated, unliquidated, fixed, contingent, matured, unmatured, secured, unsecured, subordinated, legal or equitable. (See priority of claims.)
Enjoin - To require a person to perform, or abstain or desist from some act.
Contempt of court - Any act that is meant to embarrass, hinder or obstruct a court in the administration of justice. Direct contempt is committed in the presence of the court; indirect contempt is when a lawful order is not carried out or refused.
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.
Chapter 7 - liquidation proceedings; generally assets are sold by a trustee and the company ceases operation. Individuals may file Chapter 7 also.

Kelly Gordon Rogers

Tax loss carry-forward - losses, for tax purposes, that can be carried forward and applied to reduce taxable income in future years. The Tax Reform Act of 1986 imposed stringent restrictions on the use of tax loss carry-forwards.
Bankruptcy estate - all legal or equitable interests of the debtor in property at the time of the bankruptcy filing. The estate includes all property in which the debtor has an interest, even if it is owned or held by another person. Kelly Gordon Rogers
Parties - Persons, corporations, or associations, who have commenced a law suit or who are defendants.
Kelly Gordon Rogers Discovery procedures - used to obtain disclosure of evidence before trial.


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Kelly Gordon Rogers Online Article about Business bankruptcy

Kelly Gordon Rogers

Distressed - used to describe securities, companies and related items in or near bankruptcy or insolvency. The term does not have a strict, technical or legal definition. For example, a distressed security might be a security where the issuer has defaulted or a security that is selling at a substantially discounted price where a default is expected in the future. Kelly Gordon Rogers
Chapter 9 - bankruptcies of municipalities; only a few of these are filed each year.
Judge pro tem - Temporary judge.
Period of exclusivity - (see exclusivity)
Kelly Gordon Rogers: Bankruptcy mill - a business not authorized to practice law that provides bankruptcy counseling and prepares bankruptcy petitions.
Offer -1. To make a proposal ; to present for acceptance or rejection.2.To attempt to have something admitted into evidence in a trial; to introduce evidence 3. An "offer" in contract law is a proposal to make a deal.It must be communicated successfully from the person making it to the person to whom it is made and it must be the person to whom it is made and it must be definite and reasonably certain in its terms.

Kelly Gordon Rogers

Business bankruptcy - a bankruptcy case in which the debtor is a business or an individual with business related debt. Data from the U.S. Administrative Office of the Courts subdivides bankruptcies into business and non-business.
Rule 2004 - (see Bankruptcy Rule 2004) Kelly Gordon Rogers
Parties - Persons, corporations, or associations, who have commenced a law suit or who are defendants.
Kelly Gordon Rogers Transcript - The official record or proceedings in a trial or hearing, which is kept by the clerk.


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Kelly Gordon Rogers - Presiding judge

Kelly Gordon Rogers

Presiding judge - Chief or administrative judge of a court. Kelly Gordon Rogers
Opinion, per curiam - Phrase used to distinguish an opinion of the whole court from an opinion written by only one judge.
Deposition - Sworn testimony taken and recorded in an authorized place outside of the courtroom, according to the rules of the court.
Kelly Gordon Rogers: Bankruptcy Amendments of 1984 - a set of amendments to the Bankruptcy Reform Act of 1978. The Amendments contain a number of provisions including: limiting the jurisdiction of the bankruptcy court, limiting the right of companies to invalidate labor contracts while in bankruptcy and providing for the prevention of "substantial abuse."

Kelly Gordon Rogers

Stalking horse - this is the name given to the party submitting the first bid to purchase assets. The stalking horse bid can be used to solicit interest from other bidders and also acts as an indicator for what will be realized on the auction floor.
Liquidation - the dissolution of a company, or individual; usually operations cease and assets are sold by auction; Chapter 7 is usually employed for liquidations, businesses or individuals. Kelly Gordon Rogers
Court commissioner - A judicial officer at both trial and appellate court levels who performs many of the same duties as judges and justices.
Kelly Gordon Rogers Motion to lift automatic stay - a request by a creditor to allow the creditor to take an action against a debtor or the debtor’s property that would otherwise be prohibited by the automatic stay.


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Kelly Gordon Rogers - Adversary system

Kelly Gordon Rogers

Adversary system - Basic U.S. trial system in which each of the opposing parties has opportunity to state his viewpoints before the court. Plaintiff argues for defendant's guilt (criminal) or liability (civil). Defense argues for defendant's innocence (criminal) or against liability civil) Kelly Gordon Rogers
Pleadings - Formal, written allegations by the parties of their respective claims.
Closing argument - The closing statement, by counsel, to the trier of facts after all parties have concluded their presentation of evidence.
Kelly Gordon Rogers: Liquidating reorganization - an informal term for a Chapter 11 proceeding when the company is essentially liquidated through one or more asset sales.

Kelly Gordon Rogers

Grand Jury - A body of persons sworn to inquire into crime and, if appropriate, bring accusations (indictments) against the suspected criminals.
Costs - An allowance for expenses in prosecuting or defending a suit. Ordinarily does not include attorney's fees. Kelly Gordon Rogers
Reversal - Setting aside, annulling, vacating or changing to the contrary the decision of a lower court or other body.
Kelly Gordon Rogers Voir dire - (pronounced "vwar-deer") - "To speak the truth." The process of preliminary examination of prospective jurors, by the court or attorneys, regarding their qualifications.


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Kelly Gordon Rogers - Petition preparer

Kelly Gordon Rogers

Petition preparer - a business not authorized to practice law that prepares bankruptcy petitions. Kelly Gordon Rogers
Caseload - The number of cases a judge handles in a specific time period.
Bankruptcy Code - the name given to the statutory body of bankruptcy laws after the Bankruptcy Reform Act of 1978.
Kelly Gordon Rogers: Guardian ad litem - A person appointed by a court to manage the interests of a minor or incompetent person whose property is involved in litigation.

Kelly Gordon Rogers

"Chapter 33" - an unofficial term describing a company that has filed for Chapter 11 three times.
Damages - Compensation recovered in the courts by a person who has suffered loss, detriment or injury to his/her person, property or rights, through the unlawful act or negligence of another. Kelly Gordon Rogers
Bankrupt - the entity that files a bankruptcy; the debtor; the insolvent entity. This is a non-technical term and is not used in the Bankruptcy Code.
Kelly Gordon Rogers Respondent - 1. Party against whom an appeal is brought in an appellate court. the prevailing party in the trial court case. 2. A juvenile offender.


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Kelly Gordon Rogers Online Article

Kelly Gordon Rogers

Costs - An allowance for expenses in prosecuting or defending a suit. Ordinarily does not include attorney's fees. Kelly Gordon Rogers
Court - 1. Place where justice is administered. 2. Judge or judges sitting on the court administering justice.
Cause of action - A legal claim.
Limited jurisdiction - Refers to courts that are limited in the types of criminal and civil cases they may hear. District, municipal and police courts are courts of limited jurisdiction.
Kelly Gordon Rogers: Jury - Specific number of people (usually 6 or 12), selected as prescribed by law to render a decision (verdict) in a trial.
Juror - Member of a jury.

Kelly Gordon Rogers

Bankruptcy petition - the document filed with the court to initiate a bankruptcy proceeding.
Exclusivity (period of) - a debtor in Chapter 11 has the exclusive right to file a plan of reorganization for the first 120 days of its bankruptcy. Thereafter, unless the period of exclusivity is extended by the court, other parties may file reorganization plans. Kelly Gordon Rogers
Bankruptcy Rule 2004 - a provision of the Bankruptcy Code that allows one party in a bankruptcy proceeding to compel discovery or other examination against another party.
Kelly Gordon Rogers Reasonable doubt - An accused person is entitled to acquittal if, in the minds of the jury, his guilt has not been proved beyond a "reasonable doubt". That state of mind of jurors in which they cannot say they feel an abiding conviction as to the truth of the charge.


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