This topic contains a solution. Click here to go to the answer

Author Question: Identify the reasons for converting a bankruptcy case from one chapter to another. What will be ... (Read 20 times)

Brittanyd9008

  • Hero Member
  • *****
  • Posts: 500
Identify the reasons for converting a bankruptcy case from one chapter to another.
 
  What will be an ideal response?

Question 2

In the case of a business debtor, any payments made in the ________ are not voidable.
 
  Fill in the blank(s) with correct word



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

Bison

  • Sr. Member
  • ****
  • Posts: 342
Answer to Question 1

As with dismissals, conversions may be either voluntary or involuntary. A voluntary conversion occurs when the debtor seeks to change his or her bankruptcy filing status from one chapter to another. The debtor has the right to convert from Chapter 7 to Chapter 11, Chapter 12, or Chapter 13 as long as he or she meets the eligibility requirements of that chapter. A debtor whose income cannot support a repayment plan may be unable to convert from a Chapter 7 to 13. Conversely, a debtor may be prohibited from converting from a Chapter 13 to a Chapter 7 if, for instance, a calculation of the Means Test determines that the debtor is not eligible for Chapter 7. There may be an exception if the debtor can convince the bankruptcy court of good cause to convert.

Facts that would justify an involuntary conversion would occur when a Chapter 7 debtor is ineligible for liquidation relief because of a finding of fraud and abuse by the debtor. Another example would be when a Chapter 7 debtor becomes gainfully employed, and it is determined that he or she has enough disposable income sufficient to support the repayment of creditors under a Chapter 13

Answer to Question 2

ordinary course of business




Brittanyd9008

  • Member
  • Posts: 500
Reply 2 on: Aug 2, 2018
:D TYSM


nathang24

  • Member
  • Posts: 314
Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

 

Did you know?

People who have myopia, or nearsightedness, are not able to see objects at a distance but only up close. It occurs when the cornea is either curved too steeply, the eye is too long, or both. This condition is progressive and worsens with time. More than 100 million people in the United States are nearsighted, but only 20% of those are born with the condition. Diet, eye exercise, drug therapy, and corrective lenses can all help manage nearsightedness.

Did you know?

The strongest synthetic topical retinoid drug available, tazarotene, is used to treat sun-damaged skin, acne, and psoriasis.

Did you know?

The top 10 most important tips that will help you grow old gracefully include (1) quit smoking, (2) keep your weight down, (3) take supplements, (4) skip a meal each day or fast 1 day per week, (5) get a pet, (6) get medical help for chronic pain, (7) walk regularly, (8) reduce arguments, (9) put live plants in your living space, and (10) do some weight training.

Did you know?

For high blood pressure (hypertension), a new class of drug, called a vasopeptidase blocker (inhibitor), has been developed. It decreases blood pressure by simultaneously dilating the peripheral arteries and increasing the body's loss of salt.

Did you know?

Human neurons are so small that they require a microscope in order to be seen. However, some neurons can be up to 3 feet long, such as those that extend from the spinal cord to the toes.

For a complete list of videos, visit our video library