Bankruptcy: Can You Avoid Avoidance Litigation?

The U.S. Bankruptcy Code permits a trustee or debtor in possession (of the bankrupt entity) to avoid and recover certain payments, known as preferences, made by the debtor to its creditors during the 90-day period preceding the filing of its bankruptcy petition. In larger bankruptcy cases, is not unusual for trustees to file dozens, if

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New Forms Required For U.S. Bankruptcy Filings TODAY

In the United States, bankruptcy is governed by the federal court and rules, with certain property rights being determined by state law.  The federal Advisory Committee on Bankruptcy Rules, engaged in a modernization project intended to simplify the language within bankruptcy forms, created new Official Bankruptcy Forms to this end and has now issued them. 

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