Federal courts have exclusive jurisdiction over bankruptcy cases. This means that a bankruptcy case cannot be filed in a state court.
The primary purposes of the law of bankruptcy are:
- to give an honest debtor a “fresh start” in life by relieving the debtor of most debts, and
to repay creditors in an orderly manner to the extent that the debtor has property available for payment.
Some bankruptcy cases are filed to allow a debtor to reorganize and establish a plan to repay creditors, while other cases involve liquidation of the debtor’s property.
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