Michael L. Detzky, lawyers in Freehold, NJ, New Jersey

The Bankruptcy Estate

The filing of a bankruptcy petition for an individual debtor under Chapter 7 or Chapter 11 of the bankruptcy code creates a separate taxable bankruptcy estate. The bankruptcy estate consists of all of the debtor's legal or equitable interests in property as of the filing date.More...

Appointment of Examiners in Chapter 11 Cases

Special Bankruptcy Code provisions exist for the appointment of or an examiner when a debtor seeks to reorganize under Chapter 11 of the Bankruptcy Code. If the bankruptcy court has not appointed a trustee, the court may, on request of a party, appoint an examiner. More...

Chapter 12 Hardship Discharge

A Chapter 12 hardship discharge may only be granted if the unsecured creditors have received at least as much as they would have received through a Chapter 7 liquidation and if modification of the plan is not feasible.More...

Chapter 11 Debtors in Possession

Upon the filing of a voluntary petition for relief under chapter 11 or, in an involuntary case, the entry of an order for such relief, the debtor automatically assumes an additional identity as the "debtor in possession." The term refers to a debtor that keeps possession and control of its assets while undergoing a reorganization under chapter 11, without the appointment of a case trustee. More...

Chapter 9 Eligibility

Only a "municipality" can file for relief under chapter 9. The term "municipality" is defined in the Bankruptcy Code to mean a political subdivision or public agency or instrumentality of a State. The definition is broad enough to include cities, counties, townships, school districts, and public improvement districts. It also includes revenue-producing bodies that provide services that are paid for by users rather than by general taxes, such as bridge authorities, highway authorities, and gas authorities. More...