"Arizona Filing Chapter 11"
Each debtor filing Arizona bankruptcy under Chapter 11 is authorized to proceed as a debtor in possession. As a
term of legal art, a debtor in possession assumes the rights and responsibilities traditionally associated with
a trustee in consumer cases. All debtors filing Chapter 11 must be prepared to satisfy an extensive array of
duties within court established deadlines.
| 11 U.S.C. §1121 provides, in part,: "(a) The debtor may file a plan with a petition commencing a voluntary
case, or at any time in a voluntary case or an involuntary case. (b) Except as otherwise provided in this
section, only the debtor may file a plan until after 120 days after the date of the order for relief under
this chapter." |
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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