Bankruptcy
• Explain (1) the requirements for voluntary and
involuntary bankruptcy cases, (2) the priorities of
creditors’ claims, (3) the debtor’s exemptions, and
(4) the debts that are not dischargeable in
bankruptcy.
• Explain the duties of a trustee and his rights (1) as
a lien creditor, (2) to avoid preferential transfers,
(3) to avoid fraudulent transfers, and (4) to avoid
statutory liens.
• Explain the procedure followed in distributing the
debtor’s estate under
• Compare the adjustment of debt proceedings under
Chapters 11 and 13.
• Identify and define the nonbankruptcy compromises
between debtors and creditors
