Exam 23: Debtor-Creditor Relations and Bankruptcy.

In theStern v.Marshall case discussed in the text,the U.S.Supreme Court addressed whether a counterclaim for tortuous interference with an expected gift,filed in response to a bankruptcy claim for defamation,was a core matter subject to the jurisdiction of the bankruptcy court.And if it was a core matter subject,did the authority conferred upon the bankruptcy court violate Article III of the U.S.Constitution? How did the Court rule?

An equipment lease that serves the purpose of financing is known as a(n)__________ lease.

Which of the following makes a security interest created under Article 9 a floating lien?

Discuss the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 ("BAPCPA")in regards to whether Chapter 7 or Chapter 13 relief is appropriate.

A __________ is an agreement whereby one or more creditors of a common debtor agree to defer payment of their claims until another creditor of the same debtor is fully paid.

A provision in a loan agreement that the borrower cannot incur additional debt beyond a certain amount is an example of a(n)__________ covenant.

After-acquired property is property that the debtor acquires after the repayment of a loan under a security agreement.

An equipment lease that serves the purpose of financing is known as a(n)__________ lease.

In a __________ bankruptcy under Chapter 11,the debtor solicits votes on its plan of reorganization and only files for Chapter 11 protection after it has obtained the required votes in favor of the plan.

Payments in the ordinary course of business made within 90 days prior to a Chapter 11 bankruptcy filing are voidable as a preference.

In order to reflect the greater risk to the lender,secured loans are priced at a higher rate than unsecured loans.

In CASE 23.3United States Department of Justice v.Sperry (2013),Sperry,the sole owner of a Subchapter S corporation that filed bankruptcy,made paymentstoother creditors before paying the corporation's federal tax obligations.Sperrycountered that he was released from the tax liens,and claimed the corporation-not him-owed the 'trust fund taxes.' The IRS sued.How did the court rule and why?

Several commentators have criticized the Bankruptcy Code as too easily excusing individuals and businesses from honoring their lawful obligations.From a societal standpoint,do you believe that the Bankruptcy Code plays a positive role in social and economic relationships? What changes,if any,would you recommend?

Set forth the five events referenced in the text that usually constitute events of default.

National banks acting as lenders are subject to state usury laws.

With a(n)__________ guaranty,subsidiaries guarantee,or pledge their assets as security for,the parent's debt.

In theIn re Bryan Road casereferencedin the text,the main issue before the Florida court was whethera pre bankruptcy waiver of the automatic stay in a prepetition workout was enforceable.How did the court rule?

The UCC provides that,unless otherwise agreed,a security agreement gives the secured party a security interest in the proceeds if collateral is sold,exchanged,collected,or otherwise disposed of.

__________ creditors must file a __________ stating the amount of their claim in a form provided by the bankruptcy court within time periods established by the jurisdiction in which the case if filed.

A purchase-money security interest in consumer goods is automatically perfected.