BANKCRUPTCY CASE

Bankruptcy Case

Bankruptcy Case

According to the Law of Bankruptcy in USA:

Bankruptcy in the United States is permitted by the United States Constitution (Article 1, Section 8, and Clause 4) which authorizes Congress to enact "uniform Laws on the subject of Bankruptcies throughout the United States." Congress has exercised this authority several times since 1801, most recently by adopting the Bankruptcy Reform Act of 1978, codified in Title 11 of the United States Code, commonly referred to as the Bankruptcy Code ("Code").

Chapter 7, name 11, joined States Code

Liquidation under a Chapter 7 filing is the most common pattern of bankruptcy. Liquidation ...