5: Module 5 - Insurance and Bankruptcy
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- 5.2: Bankruptcy
- Bankruptcy is as an aspect of financing, a system that permits creditors to receive an equitable distribution of the bankrupt person’s assets and promises new hope to debtors facing impossible financial burdens. Without such a law, we may reasonably suppose that the level of economic activity would be far less than it is, for few would be willing to risk being personally burdened forever by crushing debt. Bankruptcy gives the honest debtor a fresh start and resolves disputes among creditors.
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- 5.2.1: Introduction to Bankruptcy and Overview of the 2005 Bankruptcy Act
- 5.2.2: Case Administration; Creditors’ Claims; Debtors’ Exemptions and Dischargeable Debts; Debtor’s Estate
- 5.2.3: Chapter 7 Liquidation
- 5.2.4: Chapter 11 and Chapter 13 Bankruptcies
- 5.2.5: Alternatives to Bankruptcy
- 5.2.6: Cases
- 5.2.7: Summary and Exercises