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Saturday, April 2, 2016

Bankruptcy What purposes do the statements and schedules serve?

 April 02, 2016     No comments   

Bankruptcy What purposes do the statements and schedules serve?


The assignment has to have a detailed answer to each question done in microsoft word program with the question then answer typed out and answered. Each answer should be an indepth submission.

A paralegal in a creditor or trustee bankruptcy practice needs to understand the nature of the statements and schedules.

What purposes do the statements and schedules serve?
What are the concerns of a debtor in effective statement and schedule preparation?
What are the concerns of the trustee or creditor in effective statement and schedule review?


What is a fraudulent transfer?
What is an improper post-petition transfer?
What is a set off?
What may a trustee recover in the successful exercise of an avoiding power?


What is the order of claims distribution in a bankruptcy proceeding?
How does a class of claims receive a distribution when the trustee has insufficient funds to pay the class members in full?
What basic events must occur before Chapter 7 bankruptcy asset estate may be closed?


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