To search, Click below search items. |
| All Published Papers Search Service |
|
|
|
Title |
Bankruptcy protection law in US With focus on The Bankruptcy Abuse Prevention And Consumer Act Of 2005 |
|
Author |
Saud Hamoud Alharthi |
| Citation |
Vol. 22 No. 5 pp. 215-219 |
|
Abstract |
Bankruptcy is one of the major areas that have attracted the interest of many researchers in the American system, particularly in terms of the laws that oversee it. It provides a plan of reorganization that enables the debtor or the proprietor to discharge liabilities to the creditors through dividing the assets to settle debts. This activity is carried out under supervision to fairly protect the interests of the creditors. Bankruptcy protection systems are dynamic and complex in nature, in line with the economic sector, ensuring the protection of affected individuals from falling into huge losses. Some bankruptcy procedures give the debtor the opportunity to stay in operation or business activity and benefit from revenues until the debt is settled. This law allows some debtors to be relived from any financial burden after the distribution of assets, even if the debt is not paid in full. In light of the above information, this research paper seeks to explore the nature of the complexity of bankruptcy protection laws, their characteristics, and the justice system that regulate them. It also sheds more light on the decision-making powers on bankruptcy cases. There are specialized courts that cover bankruptcy cases located in district courts in every state. |
|
Keywords |
Bankruptcy, Consumer, protection, Act. |
|
URL |
