What Rules Govern the Bankruptcy Process?
Title 11 of the US Bankruptcy Code
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What rules govern the bankruptcy process?
The rules governing the bankruptcy process are contained in Title 11 of the US Code of Statutes. The relevant sections of the bankruptcy code are organized as follows:
Chapter 1 General Provisions Definitions, Powers of Court
Chapter 3 Case Administration
Note: Chapters 1, 3, and 5 are generally applicable to all bankruptcy cases
Chapter 5 Creditors and Claims
Chapter 7 Liquidation
Chapter 9 Municipal Bankruptcy
Chapter 11 Reorganization
Chapter 13 Individual Reorganization
Bankruptcy law is augmented by common law interpretation of statutes and regulations by federal bankruptcy courts. Further, state priority laws and exemptions are integrated into the bankruptcy process.
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