bankruptcy: an overview of the process and selected topics bruce j. ruzinsky, esq. matthew d....
TRANSCRIPT
![Page 1: Bankruptcy: An Overview of the Process and Selected Topics Bruce J. Ruzinsky, Esq. Matthew D. Cavenaugh, Esq](https://reader038.vdocument.in/reader038/viewer/2022110205/56649c805503460f9493739c/html5/thumbnails/1.jpg)
Bankruptcy: An Overview of the Process
and Selected Topics
Bruce J. Ruzinsky, Esq.
Matthew D. Cavenaugh, Esq.
![Page 2: Bankruptcy: An Overview of the Process and Selected Topics Bruce J. Ruzinsky, Esq. Matthew D. Cavenaugh, Esq](https://reader038.vdocument.in/reader038/viewer/2022110205/56649c805503460f9493739c/html5/thumbnails/2.jpg)
Overview
• I. Chapters of the Bankruptcy Code
• II. Key Concepts
• III. Points of Interest for Paralegals
![Page 3: Bankruptcy: An Overview of the Process and Selected Topics Bruce J. Ruzinsky, Esq. Matthew D. Cavenaugh, Esq](https://reader038.vdocument.in/reader038/viewer/2022110205/56649c805503460f9493739c/html5/thumbnails/3.jpg)
Key Concepts
• Property of the Estate• Cash Collateral• Automatic Stay• Executory Contracts• Avoidance Actions
• Discharge /• Dischargeability• Turnover• Plan / • Disclosure Statement
![Page 4: Bankruptcy: An Overview of the Process and Selected Topics Bruce J. Ruzinsky, Esq. Matthew D. Cavenaugh, Esq](https://reader038.vdocument.in/reader038/viewer/2022110205/56649c805503460f9493739c/html5/thumbnails/4.jpg)
PROPERTY OF THE ESTATE
What is it?
How does it affect you?
![Page 5: Bankruptcy: An Overview of the Process and Selected Topics Bruce J. Ruzinsky, Esq. Matthew D. Cavenaugh, Esq](https://reader038.vdocument.in/reader038/viewer/2022110205/56649c805503460f9493739c/html5/thumbnails/5.jpg)
CASH COLLATERAL
What is it?
Restrictions on use.
![Page 6: Bankruptcy: An Overview of the Process and Selected Topics Bruce J. Ruzinsky, Esq. Matthew D. Cavenaugh, Esq](https://reader038.vdocument.in/reader038/viewer/2022110205/56649c805503460f9493739c/html5/thumbnails/6.jpg)
AUTOMATIC STAY
What is it?
Exceptions: where the automatic stay does not apply.
Relief from the automatic stay.
![Page 7: Bankruptcy: An Overview of the Process and Selected Topics Bruce J. Ruzinsky, Esq. Matthew D. Cavenaugh, Esq](https://reader038.vdocument.in/reader038/viewer/2022110205/56649c805503460f9493739c/html5/thumbnails/7.jpg)
EXECUTORY CONTRACTS
What are they?
Assumption and Rejection.
![Page 8: Bankruptcy: An Overview of the Process and Selected Topics Bruce J. Ruzinsky, Esq. Matthew D. Cavenaugh, Esq](https://reader038.vdocument.in/reader038/viewer/2022110205/56649c805503460f9493739c/html5/thumbnails/8.jpg)
DISCHARGE / DISCHARGEABILITY
How does a Debtor get one?
Litigation.
![Page 9: Bankruptcy: An Overview of the Process and Selected Topics Bruce J. Ruzinsky, Esq. Matthew D. Cavenaugh, Esq](https://reader038.vdocument.in/reader038/viewer/2022110205/56649c805503460f9493739c/html5/thumbnails/9.jpg)
TURNOVER
Property of the Estate
Exception: Right of Setoff
![Page 10: Bankruptcy: An Overview of the Process and Selected Topics Bruce J. Ruzinsky, Esq. Matthew D. Cavenaugh, Esq](https://reader038.vdocument.in/reader038/viewer/2022110205/56649c805503460f9493739c/html5/thumbnails/10.jpg)
AVOIDANCE ACTIONS
Preferences and Fraudulent Transfers
The Debtor giveth, and the Trustee taketh away!
![Page 11: Bankruptcy: An Overview of the Process and Selected Topics Bruce J. Ruzinsky, Esq. Matthew D. Cavenaugh, Esq](https://reader038.vdocument.in/reader038/viewer/2022110205/56649c805503460f9493739c/html5/thumbnails/11.jpg)
PLAN / DISCLOSURE STATEMENT
Gotta have a plan.
![Page 12: Bankruptcy: An Overview of the Process and Selected Topics Bruce J. Ruzinsky, Esq. Matthew D. Cavenaugh, Esq](https://reader038.vdocument.in/reader038/viewer/2022110205/56649c805503460f9493739c/html5/thumbnails/12.jpg)
This may interest you…
• Exemptions.
• Proofs of Claim.
• Schedules / Statement of Financial Affairs
• Preference Exposure / Liability Analysis
• Section 341 Meetings
• Testimony in Court
![Page 13: Bankruptcy: An Overview of the Process and Selected Topics Bruce J. Ruzinsky, Esq. Matthew D. Cavenaugh, Esq](https://reader038.vdocument.in/reader038/viewer/2022110205/56649c805503460f9493739c/html5/thumbnails/13.jpg)
EXEMPTIONS
The Homestead
“Tools of the Trade”
![Page 14: Bankruptcy: An Overview of the Process and Selected Topics Bruce J. Ruzinsky, Esq. Matthew D. Cavenaugh, Esq](https://reader038.vdocument.in/reader038/viewer/2022110205/56649c805503460f9493739c/html5/thumbnails/14.jpg)
PROOF OF CLAIM
A written statement and verifying documentation filed by a creditor that describes the reason the debtor owes the creditor money. (There is an official form for this purpose.)
![Page 15: Bankruptcy: An Overview of the Process and Selected Topics Bruce J. Ruzinsky, Esq. Matthew D. Cavenaugh, Esq](https://reader038.vdocument.in/reader038/viewer/2022110205/56649c805503460f9493739c/html5/thumbnails/15.jpg)
SCHEDULES AND STATEMENT OF FINANCIAL AFFAIRS
![Page 16: Bankruptcy: An Overview of the Process and Selected Topics Bruce J. Ruzinsky, Esq. Matthew D. Cavenaugh, Esq](https://reader038.vdocument.in/reader038/viewer/2022110205/56649c805503460f9493739c/html5/thumbnails/16.jpg)
PREFERENCE EXPOSUREDon’t look now, but you may be exposed…
![Page 17: Bankruptcy: An Overview of the Process and Selected Topics Bruce J. Ruzinsky, Esq. Matthew D. Cavenaugh, Esq](https://reader038.vdocument.in/reader038/viewer/2022110205/56649c805503460f9493739c/html5/thumbnails/17.jpg)
WHO YOU MAY REPRESENT IN A BANKRUPTCY CASE
Debtor
Trustee
CRO
Committee
Creditors
Equity Interest Holders
Asset Purchasers
![Page 18: Bankruptcy: An Overview of the Process and Selected Topics Bruce J. Ruzinsky, Esq. Matthew D. Cavenaugh, Esq](https://reader038.vdocument.in/reader038/viewer/2022110205/56649c805503460f9493739c/html5/thumbnails/18.jpg)
REQUIRED MEETINGS
Section 341 Meeting
Initial Debtor Conference
Rule 2004 Exams
![Page 19: Bankruptcy: An Overview of the Process and Selected Topics Bruce J. Ruzinsky, Esq. Matthew D. Cavenaugh, Esq](https://reader038.vdocument.in/reader038/viewer/2022110205/56649c805503460f9493739c/html5/thumbnails/19.jpg)
TESTIMONY IN COURT“Do you solemnly swear…”
![Page 20: Bankruptcy: An Overview of the Process and Selected Topics Bruce J. Ruzinsky, Esq. Matthew D. Cavenaugh, Esq](https://reader038.vdocument.in/reader038/viewer/2022110205/56649c805503460f9493739c/html5/thumbnails/20.jpg)
Questions?