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| Saxowsky, David M.; Petersen, Gary J.. |
| Bankruptcy is a federal court procedure intended to benefit both debtors and creditors if a debtor is unable to pay all obligations. Filing bankruptcy' stops, or stays, all creditor's debt-collection procedures. The stay is to prevent some creditors from receiving more than their fair share from a financially distressed debtor. A bankruptcy trustee is usually appointed to assist in the fair distribution of the debtor's property. Equitable distribution of the debtor's property also is furthered by the trustee's avoidance powers, the debtor's exempt property, and the court's discharging the debtor from unpaid obligations. There are two basic types of bankruptcy proceedings--liquidation and reorganization. Chapter 7 liquidation provides for the sale of the... |
| Tipo: Report |
Palavras-chave: Agricultural Finance; Farm Management; Financial Economics. |
| Ano: 1993 |
URL: http://purl.umn.edu/51170 |
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