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2021 Stroock Bankruptcy Guide

Issue link: https://mbozikis.ufcontent.com/i/1422521

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i Table of Contents I. Overview ........................................................................................... 1 A. Background ................................................................................. 1 B. Provisions Governing Bankruptcy Law ..................................... 2 II. The Bankruptcy Court System........................................................ 6 A. Bankruptcy Courts and Judges ................................................... 6 B. Jurisdiction and Venue ............................................................... 7 1. Jurisdiction .............................................................................. 7 2. Venue .................................................................................... 10 C. Abstention ................................................................................. 13 D. Sovereign Immunity ................................................................. 14 E. Removal of Cases ..................................................................... 15 F. Role of the United States Trustee ............................................. 16 III. Bankruptcy Court Procedures ...................................................... 17 A. Standing in Bankruptcy ............................................................ 17 B. Disclosure ................................................................................. 17 C. Notice and Hearing ................................................................... 21 D. Right to Jury Trial .................................................................... 22 E. Motion Practice, Adversary Proceedings and Contested Matters ...................................................................................... 23 1. Motion Practice ..................................................................... 23 2. Adversary Proceedings .......................................................... 24 3. Contested Matters .................................................................. 24 F. Compromise and Settlement ..................................................... 25 G. Appeals ..................................................................................... 25 H. Examinations in Bankruptcy .................................................... 27 1. Rule 2004 Examinations ....................................................... 28 2. Meetings of Creditors ............................................................ 30 I. Eligibility and Compensation of Trustees and Professionals ............................................................................. 32 1. Eligibility Requirements ....................................................... 32 a. The Trustee ................................................................... 32 b. Professionals ................................................................. 34 2. Compensation ........................................................................ 36 IV. Commencement of Bankruptcy Cases .......................................... 41 A. Who May Be a Debtor .............................................................. 41 1. Generally ............................................................................... 41

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