Guidelines & Policies
Precedent A court docket determination in an earlier case with details and legal points much like a dispute currently before a courtroom. Judges will generally “comply with precedent” – meaning that they use the ideas established in earlier instances to resolve new circumstances which have similar facts and lift comparable legal issues.
Redemption A procedure in a Chapter 7 case whereby a debtor removes a secured creditor’s lien on collateral by paying the creditor the value of the property. Reaffirmation agreement An agreement by a debtor to proceed paying a dischargeable debt after the bankruptcy, normally for the purpose of preserving collateral or mortgaged property that may in any other case be topic to repossession. Property of the estate All legal or equitable interests of the debtor in property as of the commencement of the case.
Preventing For Rights: Public Curiosity Litigation And Consumer Coverage
A decide will disregard precedent if a party can show that the sooner case was wrongly determined, or that it differed in some important means from the present case. Postpetition transfer A transfer of the debtor’s property made after the graduation of the case. Party in curiosity A party who has standing to be heard by the court docket in a matter to be determined in the bankruptcy case. The debtor, U.S. trustee or bankruptcy administrator, case trustee, and collectors are events in interest for many issues. Oral argument An opportunity for attorneys to summarize their place earlier than the court docket and in addition to answer the judges’ questions. Objection to exemptions A trustee’s or creditor’s objection to the debtor’s attempt to say certain property as exempt from liquidation by the trustee to creditors. Objection to dischargeability A trustee’s or creditor’s objection to the debtor being launched from private legal responsibility for certain dischargeable money owed.
Common causes include allegations that the debt to be discharged was incurred by false pretenses or that debt arose because of the debtor’s fraud while performing as a fiduciary. Motion to carry the automated keep A request by a creditor to allow the creditor to take motion in opposition to the debtor or the debtor’s property that may in any other case be prohibited by the automatic keep. Liquidation The sale of a debtor’s property with the proceeds for use for the benefit of collectors. Often means exterior the presence of a jury and the general public. Home confinement A special situation the courtroom imposes that requires an individual to remain at house except for sure accredited actions corresponding to work and medical appointments.