Overview of bankruptcy in the United States of America
Bankruptcy in the United States
Bankruptcy in the United States
Authority
History
U.S. Trustee
Court
BAP
Code
FRBP
Chapters
Chapter 7
Chapter 9
Chapter 11
Chapter 12
Chapter 13
Chapter 15
Aspects of bankruptcy law
Automatic stay
Discharge
Bankruptcy trustee
Chief restructuring officer
Claim
Means test
DIP
v
t
e
Insolvency
Processes
Administration
Bankruptcy
Chapter 7 (US)
CVA
Conservatorship
Dissolution
Examinership
IVA
Liquidation
Provisional liquidation
Receivership
Officials
Insolvency practitioner
Tribunal
Regulatory agency
Liquidator
Referee in Bankruptcy
Trustee in bankruptcy
Claimants
Creditor
Preferential creditor
Secured creditor
Unsecured creditor
Restructuring
Administration (UK)
Chapter 11 (US)
Cram down
Restructuring
Scheme of arrangement
Avoidance regimes
Fraudulent conveyance
Undervalue transaction
Unfair preference
Voidable floating charge
Offences
Fraudulent trading
Misfeasance
Trading while insolvent
Wrongful trading
Security
Floating charge
Lien
Mortgage
Second lien loan
Security interest
International
Chapter 15 (US)
Cross-border insolvency
Insolvency Regulation
UNCITRAL Model Law
By country
Anguilla
Australia
BVI
Canada
Cayman
China
Hong Kong
India
Ireland
Russia
South Africa
Switzerland
United Kingdom
United States
Other
Anti-deprivation rule
Bankruptcy alternatives
Creditors' rights
Chapter 9 (US)
Debtor
Default
Financial distress
History of bankruptcy law
List of bankrupts
Pari passu
Pre-packaged insolvency
Sovereign default
Subordination
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Bankruptcies filed by type per year
Chapter 7
Chapter 9
Chapter 11
Chapter 12
Chapter 13
Chapter 15
In the United States, bankruptcy is largely governed by federal law, commonly referred to as the "Bankruptcy Code" ("Code").[1] The United States Constitution (Article 1, Section 8, Clause 4) authorizes Congress to enact "uniform Laws on the subject of Bankruptcies throughout the United States". Congress has exercised this authority several times since 1801, including through adoption of the Bankruptcy Reform Act of 1978, as amended, codified in Title 11 of the United States Code and the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (BAPCPA).
Some laws relevant to bankruptcy are found in other parts of the United States Code. For example, bankruptcy crimes are found in Title 18 of the United States Code (Crimes). Tax implications of bankruptcy are found in Title 26 of the United States Code (Internal Revenue Code), and the creation and jurisdiction of bankruptcy courts are found in Title 28 of the United States Code (Judiciary and Judicial procedure).
Bankruptcy cases are filed in United States bankruptcy court (units[2] of the United States District Courts), and federal law governs procedure in bankruptcy cases. However, state laws are often applied to determine how bankruptcy affects the property rights of debtors. For example, laws governing the validity of liens or rules protecting certain property from creditors (known as exemptions), may derive from state law or federal law. Because state law plays a major role in many bankruptcy cases, it is often unwise to generalize some bankruptcy issues across state lines.
^Friedland & Cahill, Jonathan P. & Christopher M. (2021). Commercial Bankruptcy Litigation. Toronto, Ontario, Canada: Thomson Reuters. §1:6. ISBN 978-1-5392-3368-8
^See 28 U.S.C. sec. 151.
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