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Houston Bankruptcy - Terms & Definitions

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Reach-Back Period
the period immediately before the filing of a bankruptcy petition within which transfers are vulnerable to avoidance.
The debtor can choose to reaffirm debts that would otherwise be discharged by the bankruptcy. When a debt is reaffirmed, the parties to the reaffirmed debt have the same rights and liabilities that each had prior to the bankruptcy filing, and the debtor will again be obligated to pay.
Reaffirmation agreement
An agreement by a debtor to continue paying a dischargeable debt after the bankruptcy, usually for the purpose of keeping collateral or mortgaged property that would otherwise be subject to repossession.
a right to payment, whether or not such right has been earned by performance.
a proceeding, originating in equity, under which a person (receiver) is appointed to take control of property and to preserve and administer it as the court directs.
a seller's limited right to reclaim goods when the buyer was insolvent upon receipt of the goods and the seller was unaware of the insolvency. Reclamation is governed by UCC §2.702 and is given qualified recognition in bankruptcy by §546(c).
A written account of the proceedings in a case, including all pleadings, evidence, and exhibits submitted in the course of the case.
Redelivery Bond
a bond posted by the debtor for the purpose of regaining possession of attached property pending final determination of the suit. In the bond, the debtor undertakes to redeliver the property or its value if the creditor ultimately obtains judgment. Unlike a discharging bond, a redelivery bond does not release the attachment lien.
a right given a Chapter 7 consumer debtor to pay a lump sum to a secured creditor in an amount equal to the value of any collateral. A valuation hearing may be necessary to determine the adequacy of the redemption amount. Section 722 of the Bankruptcy Code permits redemption.
the original name for a bankruptcy judge under the Bankruptcy Act of 1898.
Regular Income
income sufficient and stable enough to support performance of a Chapter 13 plan by an individual. Regular income is not limited to wages or salary. Pension, social security, and commission income may all constitute regular income for Chapter 13 purposes.
in a general sense, resolution of the debtor's financial difficulties through bankruptcy, so that the debtor's fiscal viability is restored. More specifically, bankruptcy relief by means of a plan under Chapter 11, 12, or 13 as distinct from liquidation.
Rejection (of a contract)
the estate's repudiation of a prepetition executory contract of the debtor, so that the estate acquires no performance rights and obligations under the contract and the other party has a general unsecured claim for damages.
Related Proceedings
litigation concerning a matter of Nonbankruptcy law, the outcome of which affects the rights, liabilities, or administration of the estate. Because the controversy has an impact on the estate, it falls within the nonexclusive jurisdiction of the district court. In the absence of consent by the parties, related proceedings cannot be finally determined by the bankruptcy court, but must be returned to the district court for final judgment. See core proceedings.
See backdating
Relief from Stay
A creditor can ask the judge to lift the automatic stay and permit some action against the debtor or the property of the estate. The motion allows the moving party to take whatever action the court permits. Relief can be absolute, such as foreclosure on property, or limited by allowing the recordation of a notice of default.
the bankruptcy court's return of a matter to the court from which it was removed.
the transfer of related proceedings from another court to the bankruptcy court.
a bankruptcy proceeding where a debtor seeks confirmation of a plan that will repay creditors while permitting the debtor to retain assets or continue in business. The proceedings permitted by Chapters 9, 11, 12, and 13 of the Bankruptcy Code are reorganization proceedings.
Reorganization Plan
a repayment plan prepared according to the requirements of Chapter 11 of the Bankruptcy Code.
a possessory action for the recovery of specific tangible personal property that has been wrongfully taken or retained. As a pre- judgment remedy, replevin enables a plaintiff to obtain provisional seizure and possession of property which is the subject matter of the underlying suit. (Replevin is called "claim and delivery" in some states.)
Once in default, the creditor can repossess the collateral by self-help or with the aid of a court order, dispose of the collateral by public or private foreclosure sale, retain the collateral in satisfaction of the debt, terminate the debtor's right of redemption, add the costs of repossession and foreclosure to the unpaid balance of the debt, and pursue the debtor for any remaining unpaid balance or deficiency.
Residential Real Property
real property in which a debtor resides.
the report submitted by the sheriff that states the action taken on a writ or other process.
The act of a court setting aside the decision of a lower court. A reversal is often accompanied by a remand to the lower court for further proceedings.
Revival (of judgment)
the renewal of a judgment that has become dormant because it has not been executed upon during its period of enforceability.
Rule 2004 Examination
an extended examination of any person pursuant to Federal Rule of Bankruptcy Procedure 2004 regarding one or more aspects of a debtor's financial affairs. A Rule 2004 examination is similar to a deposition in Nonbankruptcy proceedings.

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