Upper Level·T14 #13·Ithaca, New York

Bankruptcy at Cornell Law

Bankruptcy law covers the federal system for resolving the debts of individuals and businesses under the Bankruptcy Code. Students study liquidation (Chapter 7), reorganization (Chapter 11), and individual debt adjustment (Chapter 13).

Key Topics in Bankruptcy

Chapter 7 liquidation

Chapter 11 reorganization

Chapter 13 debt adjustment

Automatic stay

Discharge and exceptions to discharge

Exempt and non-exempt property

Means test

Avoidance powers (preferences, fraudulent transfers)

Secured vs. unsecured claims

Bankruptcy estate and property of the estate

Key Questions in Bankruptcy

Is the debtor eligible for relief under this chapter?

Does the automatic stay apply to this creditor action?

Is this debt dischargeable?

Can the trustee avoid this transfer as preferential?

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