Title I of the Bankruptcy Amendments and Federal Judgeship Act of 1984, Pub. L. No. 98–353, created a new bankruptcy judicial system in which the role of the district court was substantially increased. 28U.S.C.§1334 confers on the United States district courts original and exclusive jurisdiction over all cases under title 11 of the United States Code and original but not exclusive jurisdiction over civil proceedings arising under title 11 and civil proceedings arising in or related to a case under title 11.
Pursuant to 28U.S.C.§§157(a) the district court may but need not refer cases and proceedings within the district court's jurisdiction to the bankruptcy judges for the district. Judgments or orders of the bankruptcy judges entered pursuant to 28 U.S.C. §157(b)(1) and (c)(2) are subject to appellate review by the district courts or bankruptcy appellate panels under 28U.S.C.§158(a).
Rule 81(a)(1) F.R.Civ.P. provides that the civil rules do not apply to proceedings in bankruptcy, except as they may be made applicable by rules promulgated by the Supreme Court, e.g., Part VII of these rules. This amended Bankruptcy Rule 1001 makes the Bankruptcy Rules applicable to cases and proceedings under title 11, whether before the district judges or the bankruptcy judges of the district.
Part I – Commencement of Case; Proceedings Relating to Petition and Order for Relief
Part II – Officers and Administration; Notices; Meetings; Examinations; Elections; Attorneys and Accountants
Part III – Claims and Distribution to Creditors and Equity Interest Holders; Plans
Part IV – The Debtor: Duties and Benefits
Part V – Courts and Clerks
Part VI – Collection and Liquidation of the Estate
Part VII – Adversary Proceedings
Part VIII – Appeals to District Court or Bankruptcy Appellate Panel
Part IX – General Provisions
Further reading
Federal Rules of Bankruptcy Procedure; 2019 Edition: With Statutory Supplement, Michigan Legal Publishing Ltd. (published 2019), October 2018, ISBN9781640020498
Bankruptcy is a legal process through which people or other entities who cannot repay debts to creditors may seek relief from some or all of their debts. In most jurisdictions, bankruptcy is imposed by a court order, often initiated by the debtor.
Chapter 11 of the United States Bankruptcy Code permits reorganization under the bankruptcy laws of the United States. Such reorganization, known as Chapter 11 bankruptcy, is available to every business, whether organized as a corporation, partnership or sole proprietorship, and to individuals, although it is most prominently used by corporate entities. In contrast, Chapter 7 governs the process of a liquidation bankruptcy, though liquidation may also occur under Chapter 11; while Chapter 13 provides a reorganization process for the majority of private individuals.
Chapter 7 of Title 11 U.S. Code is the bankruptcy code that governs the process of liquidation under the bankruptcy laws of the U.S. In contrast to bankruptcy under Chapter 11 and Chapter 13, which govern the process of reorganization of a debtor, Chapter 7 bankruptcy is the most common form of bankruptcy in the U.S.
The United States courts of appeals are the intermediate appellate courts of the United States federal judiciary. They hear appeals of cases from the United States district courts and some U.S. administrative agencies, and their decisions can be appealed to the Supreme Court of the United States. The courts of appeals are divided into 13 "Circuits". Eleven of the circuits are numbered "First" through "Eleventh" and cover geographic areas of the United States and hear appeals from the U.S. district courts within their borders. The District of Columbia Circuit covers only Washington, DC. The Federal Circuit hears appeals from federal courts across the entire United States in cases involving certain specialized areas of law.
United States bankruptcy courts are courts created under Article I of the United States Constitution. The current system of bankruptcy courts was created by the United States Congress in 1978, effective April 1, 1984. United States bankruptcy courts function as units of the district courts and have subject-matter jurisdiction over bankruptcy cases. The federal district courts have original and exclusive jurisdiction over all cases arising under the bankruptcy code,, and bankruptcy cases cannot be filed in state court. Each of the 94 federal judicial districts handles bankruptcy matters.
A court is an institution, often a government entity, with the authority to adjudicate legal disputes between parties and administer justice in civil, criminal, and administrative matters in accordance with the rule of law.
Interpleader is a civil procedure device that allows a plaintiff or a defendant to initiate a lawsuit in order to compel two or more other parties to litigate a dispute. An interpleader action originates when the plaintiff holds property on behalf of another, but does not know to whom the property should be transferred. It is often used to resolve disputes arising under insurance contracts, such as when a plaintiff with a personal injury claim has a dispute with medical providers over the payment out of a settlement for medical services provided to treat the plaintiff's injuries.
In the United States, bankruptcy is largely governed by federal law, commonly referred to as the "Bankruptcy Code" ("Code"). The United States Constitution authorizes Congress to enact "uniform Laws on the subject of Bankruptcies throughout the United States". Congress has exercised this authority several times since 1801, including through adoption of the Bankruptcy Reform Act of 1978, as amended, codified in Title 11 of the United States Code and the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (BAPCPA).
The federal judiciary of the United States is one of the three branches of the federal government of the United States organized under the United States Constitution and laws of the federal government. The U.S. federal judiciary consists primarily of the U.S. Supreme Court, the U.S. Courts of Appeals, and the U.S. District Courts. It also includes a variety of other lesser federal tribunals.
The United States Court of Federal Claims is a United States federal court that hears monetary claims against the U.S. government. It was established by statute in 1982 as the United States Claims Court, and took its current name in 1992. The court is the successor to trial division of the United States Court of Claims, which was established in 1855.
Title 28 is the portion of the United States Code that governs the federal judicial system.
A fraudulent conveyance or fraudulent transfer is the transfer of property to another party to prevent, hinder, or delay the collection of a debt owed by or incumbent on the party making the transfer, sometimes by rendering the transferring party insolvent. It is generally treated as a civil cause of action that arises in debtor/creditor relations, typically brought by creditors or by bankruptcy trustees against insolvent debtors, but in some jurisdictions there is potential for criminal prosecution.
An adversary proceeding in bankruptcy is a type of lawsuit in the American legal system. It is distinguished from other suits by being filed in a United States bankruptcy court in connection with a larger bankruptcy proceeding.
Northern Pipeline Construction Company v. Marathon Pipe Line Company, 458 U.S. 50 (1982), is a United States Supreme Court case in which the Court held that Article III jurisdiction could not be conferred on non-Article III courts.
In United States bankruptcy law, an automatic stay is an automatic injunction that halts actions by creditors, with certain exceptions, to collect debts from a debtor who has declared bankruptcy. Under section 362 of the United States Bankruptcy Code, the stay begins at the moment the bankruptcy petition is filed. Secured creditors may, however, petition the bankruptcy court for relief from the automatic stay upon a showing of cause.
The history of bankruptcy law in the United States refers primarily to a series of acts of Congress regarding the nature of bankruptcy. As the legal regime for bankruptcy in the United States developed, it moved from a system which viewed bankruptcy as a quasi-criminal act, to one focused on solving and repaying debts for people and businesses suffering heavy losses.
Stern v. Marshall, 564 U.S. 462 (2011), was a United States Supreme Court case in which the Court held that a bankruptcy court, as a non-Article III court lacked constitutional authority under Article III of the United States Constitution to enter a final judgment on a state law counterclaim that is not resolved in the process of ruling on a creditor's proof of claim, even though Congress purported to grant such statutory authority under 28 U.S.C. § 157(b)2(C). The case drew an unusual amount of interest because the petitioner was the estate of former Playboy Playmate and celebrity Anna Nicole Smith. Smith died in 2007, before the Court decided the case, which her estate lost.
Things Remembered, Inc. v. Petrarca, 516 U.S. 124 (1995), was a case in which the United States Supreme Court held that when an action has been removed from state court to a United States Bankruptcy Court, and the bankruptcy court remands to state court because of a timely-raised defect in removal procedure or lack of subject-matter jurisdiction, the removal statute precludes a United States Court of Appeals from reviewing the order.
Bankruptcy in Florida is made under title 11 of the United States Code, which is referred to as the Bankruptcy Code. Although bankruptcy is a federal procedure, in certain regards, it looks to state law, such as to exemptions and to define property rights. The Bankruptcy Code provides that each state has the choice whether to "opt in" and use the federal exemptions or to "opt out" and to apply the state law exemptions. Florida is an "opt out" state in regard to exemptions. Bankruptcy in the United States is provided for under federal law as provided in the United States Constitution. Under the federal constitution, there are no state bankruptcy courts. The bankruptcy laws are primarily contained in 11 U.S.C. 101, et seq. The Bankruptcy Code underwent a substantial amendment in 2005 with the "Bankruptcy Abuse Prevention and Consumer Protection Act of 2005", often referred to as "BAPCPA". The Bankruptcy Code provides for a set of federal bankruptcy exemptions, but each states is allowed is choose whether it will "opt in" or "opt out" of the federal exemptions. In the event that a state opts out of the federal exemptions, the exemptions are provided for the particular exemption laws of the state with the application with certain federal exemptions.
Cayman Islands bankruptcy law is principally codified in five statutes and statutory instruments:
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