Bankruptcy

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?