The Bankruptcy Abuse Prevention and Consumer Protection Act of 2005

(Chapters 9, and 11 excluded)

presented by Robert T. DeMarco*



TITLE 11 - BANKRUPTCY

CHAPTER

HEADING

SECTION

1

General Provisions

101

3

Case Administration

301

5

Creditors, the Debtor, and the Estate

501

7

Liquidation

701

9

Adjustment of Debts of a Municipality

901

11

Reorganization

1101

12

Adjustment of Debts of a Family Farmers or Family Fisherman with Regular Annual Income

1201

13

Adjustment of Debts of an Individual With Regular Income

1301

15

Ancillary and Other Cross-Border Cases

1501



CHAPTER 1 - GENERAL PROVISIONS

SECTION

HEADING

101

Definitions.

102

Rules of construction.

103

Applicability of chapters.

104

Adjustment of dollar amounts.

105

Power of court.

106

Waiver of sovereign immunity.

107

Public access to papers.

108

Extension of time.

109

Who may be a debtor.

110

Penalty for persons who negligently or fraudulently prepare bankruptcy petitions.

111

Nonprofit budget and credit counseling agencies; financial management instructional courses.

112

Prohibition on disclosure of name of minor children.



CHAPTER 3 - CASE ADMINISTRATION

SUBCHAPTER I - COMMENCEMENT OF A CASE

SECTION

HEADING

301

Voluntary cases.

302

Joint cases.

303

Involuntary cases.

304

Cases ancillary to foreign proceedings.

305

Abstention.

306

Limited appearance.

307

United States trustee.

308

Debtor reporting requirements.



SUBCHAPTER II - OFFICERS

SECTION

HEADING

321

Eligibility to serve as trustee.

322

Qualification of trustee.

323

Role and capacity of trustee.

324

Removal of trustee or examiner.

325

Effect of vacancy.

326

Limitation on compensation of trustee.

327

Employment of professional persons.

328

Limitation on compensation of professional persons.

329

Debtor's transactions with attorneys.

330

Compensation of officers.

331

Interim compensation.

332

Consumer privacy ombudsman.

333

Appointment of ombudsman.



SUBCHAPTER III - ADMINISTRATION

SECTION

HEADING

341

Meetings of creditors and equity security holders.

342

Notice.

343

Examination of the debtor.

344

Self-incrimination; immunity.

345

Money of estates.

346

Special tax provisions related to the treatment of State and local taxes.

347

Unclaimed property.

348

Effect of conversion.

349

Effect of dismissal.

350

Closing and reopening cases.

351

Disposal of patient records.



SUBCHAPTER IV - ADMINISTRATIVE POWERS

SECTION

HEADING

361

Adequate protection.

362

Automatic stay.

363

Use, sale, or lease of property.

364

Obtaining credit.

365

Executory contracts and unexpired leases.

366

Utility service.

347

Unclaimed property.

348

Effect of conversion.

349

Effect of dismissal.

350

Closing and reopening cases.

351

Disposal of patient records.



CHAPTER 5 - CREDITORS, THE DEBTOR, AND THE ESTATE

SUBCHAPTER I - CREDITORS AND CLAIMS

SECTION

HEADING

501

Filing of proofs of claims or interests.

502

Allowance of claims or interests.

503

Allowance of administrative expenses.

504

Sharing of compensation.

505

Determination of tax liability.

506

Determination of secured status.

507

Priorities.

508

Effect of distribution other than under this title.

509

Claims of codebtors.

510

Subordination.

511

Rate of interest on tax claims.



SUBCHAPTER II - DEBTOR'S DUTIES AND BENEFITS

SECTION

HEADING

521

Debtor's duties.

522

Exemptions.

523

Exceptions to discharge.

524

Effect of discharge.

525

Protection against discriminatory treatment.

526

Restrictions on debt relief agencies.

527

Disclosures.

528

Requirements for debt relief agencies.



SUBCHAPTER IIII - THE ESTATE

SECTION

HEADING

541

Property of the estate.

542

Turnover of property to the estate.

543

Turnover of property by a custodian.

544

Trustee as lien creditor and as successor to certain creditors and purchasers.

545

Statutory liens.

546

Limitations on avoiding powers.

547

Preferences.

548

Fraudulent transfers and obligations.

549

Postpetition transactions.

550

Liability of transferee of avoided transfer.

551

Automatic preservation of avoided transfer.

552

Postpetition effect of security interest.

553

Setoff.

554

Abandonment of property of the estate.

555

Contractual right to liquidate, terminate, or accelerate a securities contract.

556

Contractual right to liquidate, terminate, or accelerate a commodityies contract or forward contract.

557

Expedited determination of interests in, and abandonment or other disposition of grain assets.

558

Defenses of the estate.

559

Contractual right to liquidate, terminate, or accelerate a repurchase agreement.

560

Contractual right to liquidate, terminate, or accelerate a swap agreement.

561

Contractual right to terminate, liquidate, accelerate, or offset under a master netting agreement and across contracts; proceedings under chapter 15.

562

Timing of damage measure in connection with swap agreements, securities contracts, forward contracts, commodity contracts, repurchase agreements, or master netting agreements.



CHAPTER 7 - LIQUIDATION

SUBCHAPTER I - OFFICERS AND ADMINISTRATION

SECTION

HEADING

701

Interim trustee.

702

Election of trustee.

703

Successor trustee.

704

Duties of trustee.

705

Creditors' committee.

706

Conversion.

707

Dismissal of a case or conversion to a case under chapter 11 or 13.



SUBCHAPTER II - COLLECTION, LIQUIDATION, AND DISTRIBUTION OF THE ESTATE

SECTION

HEADING

721

Authorization to operate business.

722

Redemption.

723

Rights of partnership trustee against general partners.

724

Treatment of certain liens.

725

Disposition of certain property.

726

Distribution of property of the estate.

727

Discharge.

728

Special tax provisions.



SUBCHAPTER III - STOCKBROKER LIQUIDATION

SECTION

HEADING

741

Definitions for this subchapter.

742

Effect of section 362 of this title in this subchapter.

743

Notice.

744

Executory contracts.

745

Treatment of accounts.

746

Extent of customer claims.

747

Subordination of certain customer claims.

748

Reduction of securities to money.

749

Voidable transfers.

750

Distribution of securities.

751

Customer name securities.

752

Customer property.

753

Stockbroker liquidation and forward contract merchants, commodity brokers, stockbrokers, financial institutions, financial participants, securities clearing agencies, swap participants, repo participants, and master netting agreement participants.



SUBCHAPTER IV - COMMODITY BROKER LIQUIDATION

SECTION

HEADING

761

Definitions for this subchapter.

762

Notice to the Commission and right to be heard.

763

Treatment of accounts.

764

Voidable transfers.

765

Customer instructions.

766

Treatment of customer property.

767

Commodity broker liquidation and forward contract merchants, commodity brokers, stockbrokers, financial institutions, financial participants, securities clearing agencies, swap participants, repo participants, and master netting agreement participants.



SUBCHAPTER V - CLEARING BANK LIQUIDATION

SECTION

HEADING

781

Definitions.

782

Selection of trustee.

783

Additional powers of trustee.

784

Right to be heard.



CHAPTER 9 - ADJUSTMENT OF DEBTS OF A MUNICIPALITY (This chapter not presently available)

SUBCHAPTER I - GENERAL PROVISIONS

SECTION

HEADING

901

Applicability of other sections of this title.

902

Definitions for this chapter.

903

Reservation of State power to control municipalities.

904

Limitation on jurisdiction and powers of court.



SUBCHAPTER II - ADMINISTRATION

SECTION

HEADING

921

Petition and proceedings relating to petition.

922

Automatic stay of enforcement of claims against the debtor.

923

Notice.

924

List of creditors.

925

Effect of list of claims.

926

Avoiding powers.

927

Limitation on recourse.

928

Post petition effect of security interest.

929

Municipal leases.

930

Dismissal.



SUBCHAPTER III - THE PLAN

SECTION

HEADING

941

Filing of plan.

942

Modification of plan.

943

Confirmation.

944

Effect of confirmation.

945

Continuing jurisdiction and closing of the case.

946

Effect of exchange of securities before the date of the filing of the petition.



CHAPTER 11 - REORGANIZATION (This chapter not presently available)

SUBCHAPTER I - OFFICERS AND ADMINISTRATION

SECTION

HEADING

1101

Definitions for this chapter.

1102

Creditors' and equity security holders' committees.

1103

Powers and duties of committees.

1104

Appointment of trustee or examiner.

1105

Termination of trustee's appointment.

1106

Duties of trustee and examiner.

1107

Rights, powers, and duties of debtor in possession.

1108

Authorization to operate business.

1109

Right to be heard.

1110

Aircraft equipment and vessels.

1111

Claims and interests.

1112

Conversion or dismissal.

1113

Rejection of collective bargaining agreements.

1114

Payment of insurance benefits to retired employees.

1115

Property of the estate.

1116

Duties of trustee or debtor in possession in small business cases.



SUBCHAPTER II - THE PLAN

SECTION

HEADING

1121

Who may file a plan.

1122

Classification of claims or interests.

1123

Contents of plan.

1124

Impairment of claims or interests.

1125

Postpetition disclosure and solicitation.

1126

Acceptance of plan.

1127

Modification of plan.

1128

Confirmation hearing.

1129

Confirmation of plan.



SUBCHAPTER III - POSTCONFIRMATION MATTERS

SECTION

HEADING

1141

Effect of confirmation.

1142

Implementation of plan.

1143

Distribution.

1144

Revocation of an order of confirmation.

1145

Exemption from securities laws.

1146

Special tax provisions.



SUBCHAPTER IV - RAILROAD REORGANIZATION

SECTION

HEADING

1161

Inapplicability of other sections.

1162

Definition

1163

Appointment of trustee.

1164

Right to be heard.

1165

Protection of the public interest.

1166

Effect of subtitle IV of title 49 and of Federal, State, or local regulations.

1167

Collective bargaining agreements.

1168

Rolling stock equipment.

1169

Effect of rejection of lease of railroad line.

1170

Abandonment of railroad line.

1171

Priority claims.

1172

Contents of plan.

1173

Confirmation of plan.

1174

Liquidation.



CHAPTER 13 - ADJUSTMENT OF DEBTS OF AN INDIVIDUAL WITH REGULAR INCOME

SUBCHAPTER I - OFFICERS, ADMINISTRATION, AND THE ESTATE

SECTION

HEADING

1301

Stay of action against codebtor.

1302

Trustee.

1303

Rights and powers of debtor.

1304

Debtor engaged in business.

1305

Filing and allowance of postpetition claims.

1306

Property of the estate.

1307

Conversion or dismissal.

1308

Filing of prepetition tax returns.



SUBCHAPTER II - THE PLAN

SECTION

HEADING

1321

Filing of plan.

1322

Contents of plan.

1323

Modification of plan before confirmation.

1324

Impairment of claims or interests.

1325

Confirmation of plan.

1326

Payments.

1327

Effect of confirmation.

1328

Discharge.

1329

Modification of plan after confirmation.

1330

Revocation of an order of confirmation.



* Copyright 2005 All Rights Reserved, Robert T. DeMarco



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