Compare and contrast the two classifications of bankruptcy filings, liquidation and reorganization. How are these two types of filings similar? How are these two types of filings different?
What will be an ideal response?
In his or her answer, the student should discuss how both reorganization and liquidation have the same goals; to help the debtor get his or her financial situation under control, and to ultimately be awarded a discharge of debt. The student should identify the major differences between the two types of filings and discuss repayment plans, regular income, the DIP, etc., for reorganization. The student should discuss exempt vs. non-exempt property, no asset cases, for the liquidation filings. Student should discuss the means test and the role of the bankruptcy trustee for both chapters.
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Describe the information that should be included in a witness statement
Any help about a witness statement.
A waiver may also be called:
A. a release B. a disclaimer C. an exculpatory clause D. all of the above
Briefly describe "opt out" and how it affects the debtor.
What will be an ideal response?
What should you include with every e-mail message that you send when working in a law firm?
A) an emoticon B) a confidentiality notice/disclaimer C) a joke D) a cliché