Bankruptcy Newsletters

Case Closing and Reopening

Bankruptcy Case Closing Defined

Contested Matters

Whenever there is an actual dispute, other than an adversary proceeding, before the bankruptcy court, the litigation to resolve that dispute is a contested matter. For example, the filing of an objection to a proof of claim, to a claim of exemption, or to a disclosure statement creates a dispute that is a contested matter. Even when an objection is not formally required, there may be a dispute. If a party in interest opposes the amount of compensation sought by a professional, there is a dispute that is a contested matter.

First Meeting of Creditors

Under the Bankruptcy Code, the United States trustee must convene and preside at a meeting of creditors, which is often referred to as the section 341 meeting. This must occur within a reasonable time after the order for relief in a case.

The Bankruptcy Appellate Panels and Review of Bankruptcy Decisions

Bankruptcy Appellate Panels or "BAPs"

Turnover to the Trustee

The Bankruptcy Code requires an entity in possession, custody, or control of property of the estate, including exempt property, to deliver that property to the trustee, unless the property is of inconsequential value to the estate.