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 22 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
Gracias!


Jsherida

  • Member
  • Posts: 314
Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

 

Did you know?

Blood is approximately twice as thick as water because of the cells and other components found in it.

Did you know?

The longest a person has survived after a heart transplant is 24 years.

Did you know?

Asthma is the most common chronic childhood disease in the world. Most children who develop asthma have symptoms before they are 5 years old.

Did you know?

The highest suicide rate in the United States is among people ages 65 years and older. Almost 15% of people in this age group commit suicide every year.

Did you know?

Autoimmune diseases occur when the immune system destroys its own healthy tissues. When this occurs, white blood cells cannot distinguish between pathogens and normal cells.

For a complete list of videos, visit our video library