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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 
Spanish to English
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 
English to Spanish
creditorA person to whom or business to which the debtor owes money or that claims to be owed money by the debtor. 
English
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 
Spanish to English
derecho de propiedadequity interest 
Spanish to English
dischargeA release of a debtor from personal liability for certain dischargeable debts. (A discharge releases a debtor from personal liability for certain debt 
English
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 
English to Spanish
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 
English
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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