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Federal & State Bankruptcy Laws
Bankruptcy law provides for the development of a plan that allows a debtor, who
is unable to pay his creditors, to resolve his debts through the division of his
assets among his creditors. The following is list of laws related to Bankruptcy:
Special purpose entities in bankruptcy can be used
A business, usually a special-purpose entity, established to perform limited functions and to have one or a few primary creditors. This type of entity is sometimes established to protect lenders on large, complex projects, when the lender is to be paid solely or almost exclusively out of the money generated when the project becomes operational.
Definition:
Bankruptcies of municipalities; only a few of these are filed each year; over the period 1980 through 1988 there averaged about 4 Chapter 9 filings per year.
Disclosure statement
Definition:
A comprehensive disclosure document sent to creditors when they are asked to vote on a plan of reorganization in Chapter 11.
Set-off
Definition:
The ability to discharge or reduce a debt by applying a counter claim between the same parties.
If you live in the following cities and need a Bankruptcy attorney you should contact
our Bankruptcy Attorney as soon as possible:
Ames
Ankeny
Bettendorf
Burlington
Cedar Falls
Cedar Rapids
Clinton
Council Bluffs
Davenport
Des Moines
Dubuque
Fort Dodge
Iowa City
Marion
Marshalltown
Mason City
Muscatine
Newton
Ottumwa
Sioux City
Urbandale
Waterloo
West Des Moines
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