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The income contributions liability is calculated by halving the amount of income that exceeds the threshold. Bankruptcy fraud includes filing a bankruptcy petition or any other document in a bankruptcy case for the purpose of attempting to execute or conceal a scheme or artifice to defraud. If the bankrupt does not comply with the Trustees request to provide details of income, the trustee may have grounds to lodge an Objection to Discharge, which has the effect of extending the bankruptcy for a further five years. If the bankrupt fails to pay the contributions due, the trustee separate bankruptcy court in usa where an individual or a business organization can issue a notice to garnishee the bankrupt's wages.

There is no regulation or statute legislated upon bankruptcy which denotes a condition of inability to meet a demand of a creditor as is common in many other jurisdictions. Generally, a trustee will sell most of the debtors assets to pay off creditors.

The cases that held a conversion of nonexempt into exempt assets to be a fraudulent transfer tend to focus on the existence of an independent reason for the conversion. An individual debtor may choose between a federal list of exemptions and the list of exemptions provided by the law of the state in which the debtor files the bankruptcy case unless the state in which the debtor files the bankruptcy case has enacted legislation prohibiting the debtor from choosing the exemptions on the federal list.

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