Bankruptcy is a federal statute, although there is some variation from state to state due to individual state laws. , This learning module presents an overview of the chapters of bankruptcy, giving more detail to Chapters 7 and 11. , Other topics covered include The Players and What They Want, Creditor Issues, Preferences and Proof of Claim. , After successful completion of this learning module the student should understand what each bankruptcy chapter is designed to address and how it functions, who is involved in a bankruptcy case, and what their roles are, the function of the means test, the role of the creditors committee, the order of distribution of assets in a Chapter 11, what a reclamation right is, what a preference is and when to file a proof of claim.
Robert S. Bernstein is managing partner of Bernstein Law Firm, P.C. , He serves as counsel to commercial landlords, equipment lessors, bankruptcy trustees, creditors' committees, creditors, and reorganizing businesses in proceedings throughout Pennsylvania and the Middle Atlantic States, concentrating in the many facets of bankruptcy and commercial law. , Mr. Bernstein writes and lectures for local and national groups on matters of collection, bankruptcy, business law, and professional ethics and, for more than ten years, has been certified as both a creditors' rights and business bankruptcy specialist by the American Board of Certification. , Mr. Bernstein earned a BA from the University of Pittsburgh in 1976 and a J.D. from Duquesne University in 1981.