What Rules Govern the Bankruptcy Process - Explained
Title 11 of the US Bankruptcy Code
Written by Jason Gordon
Updated at September 26th, 2021
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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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Related Topics
- Participants in the bankruptcy process?
- Key concepts behind the bankruptcy process?
- Absolute Priority Rule
- Pari Passu
- What rules govern the bankruptcy process?
- Bankruptcy Abuse Prevention and Consumer Protection Act
- American Bankruptcy Institute Definition
- Authority of the bankruptcy court?
- Authority of the trustee (debtor in possession) in bankruptcy?
- Debtor in Possession
- The bankruptcy estate?
- Bulk Sales Law
- Automatic stay in bankruptcy?
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- Voluntary and involuntary bankruptcy?
