"Arizona Chapter 11 Filings"
The majority of debtors filing Arizona Chapter 11 cases are business, however, individuals may also file for
reorganization under this chapter. The total cost of filing Arizona bankruptcy reorganization is significantly
higher than wage earners plans and liquidation, and in turn, offers significantly greater options. Of all
Arizona bankruptcy cases filed, Chapter 11 cases generally represent about one percent of total case volume.
| 11 U.S.C. §1102(a) provides, in part, "(1) Except as provided in paragraph (3), as soon as practicable
after the order for relief under chapter 11 of this title, the United States trustee shall appoint a committee
of creditors holding unsecured claims and may appoint additional committees of creditors or of equity security
holders as the United States trustee deems appropriate. (2) On request of a party in interest, the court may
order the appointment of additional committees of creditors or of equity security holders if necessary to
assure adequate representation of creditors or of equity security holders. The United States trustee shall
appoint any such committee." |
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.
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