"Arizona Chapter 11"
Reorganization of debts according to 11 U.S.C. 1101, et seq., through the federal court system. All Arizona
bankruptcy proceedings under chapter
11 must be filed in federal court, and generally, do not require a trustee to administer the estate. The
majority of all Arizona bankruptcy cases filed under Chapter 11 are administered by the debtor-in-possession.
| 11 U.S.C. §1107: "(a) Subject to any limitations on a trustee serving in a case under this
chapter, and to such limitations or conditions as the court prescribes, a debtor in possession shall have all the
rights, other than the right to compensation under section 330 of this title, and powers, and shall perform all
the functions and duties, except the duties specified in sections 1106(a)(2), (3), and (4) of this title, of a
trustee serving in a case under this chapter. (b) Notwithstanding section 327(a) of this title, a person is not
disqualified for employment under section 327 of this title by a debtor in possession solely because of such
person's employment by or representation of the debtor before the commencement of the case" |
In the matter of ARIZONA BANKRUPTCY PETITION PREPARERS, General order No. 89 issued by the U.S. District.
Arizona Bankruptcy Court., July 1, 2003. 11 USC 110(k) does not permit a bankruptcy petition preparer to engage
in activities "that are otherwise prohibited by law. including the rules and laws that prohibit the unauthorized
practice of law." The Supreme Court of the State of Arizona has enacted amendments to its Rule 31 governing the
unauthorized practice of law which became effective commencing July 1, 2003. Rule 31 sets forth the general rule
that only an active member of the State Bar of Arizona may practice law in the State. The amendments also create
a limited exception for certified legal document preparers provided that the services performed are in
compliance with State Code of Judicial Administration, Part 7, Chapter 2, Section 7-208.
Back to Arizona Bankruptcy words & phrases.
|
|
