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Translation glossary: Bankruptcy

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Terejimenez
Terejimenez
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341 meetingA meeting of creditors at which the debtor is questioned under oath by creditors, a trustee, examiner, or the United States trustee about his/her fina 
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acreencias parcialmente admitidas o acreencias inadmitidaspartially allowed claims or fully disallowed claims 
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adversary proceedingA lawsuit arising in or related to a bankruptcy case that is commenced by filing a complaint with the court. 
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assumeAn agreement to continue performing duties under a contract or lease. 
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automatic stayAn injunction that automatically stops lawsuits, foreclosure, garnishments, and all collection activity against the debtor the moment a bankruptcy pet 
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bankruptcyA legal procedure for dealing with debt problems of individuals and businesses; specifically, a case filed under one of the chapters of title 11 of th 
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Bankruptcy AdministratorAn officer of the judiciary serving in the judicial districts of Alabama and North Carolina who, like the United States trustee, is responsible for su 
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Bankruptcy CodeThe informal name for title 11 of the United States Code (11 U.S.C. §§ 101 - 1330), the federal bankruptcy law. 
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bankruptcy courtThe bankruptcy judges in regular active service in each district; a unit of the district court. 
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bankruptcy estateAll legal or equitable interests of the debtor in property at the time of the bankruptcy filing. (The estate includes all property in which the debtor 
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bankruptcy judgeA judicial officer of the United States district court who is the court official with decision-making power over federal bankruptcy cases. 
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bankruptcy millA business not authorized to practice law that provides bankruptcy counseling and prepares bankruptcy petitions. 
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bankruptcy petitionA formal request for the protection of the federal bankruptcy laws. (There is an official form for bankruptcy petitions.) 
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bankruptcy trusteeA private individual or corporation appointed in all chapter 7, chapter 12, and chapter 13 cases to represent the interests of the bankruptcy estate a 
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business bankruptcyA bankruptcy case in which the debtor is a business or an individual involved in business and the debts are for business purposes. 
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chapter 11A reorganization bankruptcy, usually involving a corporation or partnership. (A chapter 11 debtor usually proposes a plan of reorganization to keep it 
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chapter 12The chapter of the Bankruptcy Code providing for adjustment of debts of a \"family farmer,\" as that term is defined in the Code. 
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chapter 13The chapter of the Bankruptcy Code providing for adjustment of debts of an individual with regular income. (Chapter 13 allows a debtor to keep propert 
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chapter 13 trusteeA person appointed to administer a chapter 13 case. (A chapter 13 trustee\'s responsibilities are similar to those of a chapter 7 trustee; however, a 
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chapter 7The chapter of the Bankruptcy Code providing for \"liquidation,\" i.e., the sale of a debtor\'s nonexempt property and the distribution of the proceed 
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chapter 7 trusteeA person appointed in a chapter 7 case to represent the interests of the bankruptcy estate and the unsecured creditors. (The trustee\'s responsibiliti 
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claimA creditor\'s assertion of a right to payment from a debtor or the debtor\'s property. 
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complaintThe first or initiatory document in a lawsuit that notifies the court and the defendant of the grounds claimed by the plaintiff for an award of money 
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confirmationApproval of a plan of reorganization by a bankruptcy judge. 
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consumer bankruptcyA bankruptcy case filed to reduce or eliminate debts that are primarily consumer debts. 
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consumer debtsDebts incurred for personal, as opposed to business, needs. 
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contingent claimA claim that may be owed by the debtor under certain circumstances, for example, where the debtor is a cosigner on another person\'s loan and that per 
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cramdownconfirmación 
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creditorA person to whom or business to which the debtor owes money or that claims to be owed money by the debtor. 
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debtorA person who has filed a petition for relief under the bankruptcy laws. 
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defendantAn individual (or business) against whom a lawsuit is filed. 
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denuncio rentísticoincome tax return 
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derecho de propiedadequity interest 
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dischargeA release of a debtor from personal liability for certain dischargeable debts. (A discharge releases a debtor from personal liability for certain debt 
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dischargeable debtA debt for which the Bankruptcy Code allows the debtor\'s personal liability to be eliminated. 
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disclosure statementA written document prepared by the chapter 11 debtor or other plan proponent that is designed to provide \"adequate information\" to creditors to enab 
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equityThe value of a debtor\'s interest in property that remains after liens and other creditors\' interests are considered. (Example: If a house valued at 
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equity remedyacción jurídica 
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executory contract or leaseGenerally includes contracts or leases under which both parties to the agreement have duties remaining to be performed. (If a contract or lease is exe 
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exemptA description of any property that a debtor may prevent creditors from recovering. 
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exempt propertyProperty or value in property that a debtor is allowed to retain, free from the claims of creditors who do not have liens. 
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exemptionProperty that the Bankruptcy Code or applicable state law permits a debtor to keep from creditors. 
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face sheet filingA bankruptcy case filed either without schedules or with incomplete schedules listing few creditors and debts. (Face sheet filings are often made for 
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fraudulent transferA transfer of a debtor\'s property made with intent to defraud or for which the debtor receives less than the transferred property\'s value. 
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fresh startThe characterization of a debtor\'s status after bankruptcy, i.e., free of most debts. (Giving debtors a fresh start is one purpose of the Bankruptcy 
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insider (of corporate debtor)A director, officer, or person in control of the debtor; a partnership in which the debtor is a general partner; a general partner of the debtor; or a 
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insider (of individual debtor)Any relative of the debtor or of a general partner of the debtor; partnership in which the debtor is a general partner; general partner of the debtor; 
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joint administrationA court-approved mechanism under which two or more cases can be administered together. (Assuming no conflicts of interest, these separate businesses o 
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joint petitionOne bankruptcy petition filed by a husband and wife together. 
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lienA charge upon specific property designed to secure payment of a debt or performance of an obligation. 
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