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Bankruptcy-Explain the procedure followed in distributing the debtor’s estate under Chapter 7.

Bankruptcy

Explain (1) the requirements for voluntary and involuntary bankruptcy cases, (2) the priorities of creditors’ claims, (3) the debtor’s exemptions, and (4) the debts that are not dischargeable in bankruptcy.

Explain the duties of a trustee and his rights (1) as a lien creditor, (2) to avoid preferential transfers, (3) to avoid fraudulent transfers, and (4) to avoid statutory liens.

Explain the procedure followed in distributing the debtor’s estate under Chapter 7.

Compare the adjustment of debt proceedings under Chapters 11 and 13.

Identify and define the nonbankruptcy compromises between debtors and creditors.

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