Page 5 - US Bankruptcy Code Overview

Where to File:
- Situs of domicile, residence/office, principal place of business, or where principal assets have been located for previous 180 days, or where affiliate case is filed. See 28 U.S.C. § 1408.
- Structure of Judicial System for filings:
U.S. Supreme Court
U.S. Circuit Courts of Appeal (12)
U.S. District Courts (94) Bankruptcy Appellate Panels (6) U.S. Bankruptcy Courts (94 Districts-specialized judges)
How to File. What is Filed:
- Filing of a petition, together with the required filing fee, with the clerk of the relevant Bankruptcy Court – petition includes basic information about debtor and/or individuals filing petition. See Bankruptcy Rules 1005 & 1006.
- List of creditors/schedule of liabilities, and list of 20 largest creditors filed together with petition. See Bankruptcy Rules 1007(a) & (d).
- Schedules of Assets & Liabilities, current income & expenditures, executory contracts & unexpired leases, and a statement of financial affairs filed along with petition. See Bankruptcy Rule 1007(b).
- Schedules, lists and statements should be filed within 14 days of order for relief unless deadline is extended by the court.
- List of equity security holders should be filed within 14 days of order for relief. See Bankruptcy Rule 1007(a)(3).
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