San Diego Bankruptcy Attorneys

Here at the San Diego Bankruptcy Law Center we work with clients who face many problems: crushing credit card debt with high interest rates up to 34%, unemployment or substantial decrease in income, overwhelming medical bills, home foreclosures, adjusting interest rates on their homes, and struggling or failed small businesses. Some of our clients are caught in the destructive cycle of payday loans. If you are in a similar situation, the legal team at the San Diego Bankruptcy Law Center can help.

The San Diego Bankruptcy Law Center has a team of lawyers and paralegals with years of experience who are trained to assist you through the troubling process of filing for Bankruptcy. The firm's bankruptcy practice addresses a wide range of financial and legal issues, including mortgage foreclosures, credit cards debt, loan defaults, federal income tax debt, condominium liens, divorce liabilities, real estate taxes, loan guaranties and business debt.

In times when consumer debt is at an all time high and our economy is reeling from the housing market meltdown even the affluent can be confronted by overwhelming debt. Filing bankruptcy will immediately get the creditors off your back. With Chapter 7, most debts are able to be discharged. With our extensive experience in bankruptcy, we know this complicated law well. Our Lawyers have included information on this site to help you decide if bankruptcy is right for you as well as exactly what bankruptcy is. If you have any questions, don't hesitate to contact us, call 1-800-551-7922 or email us using the form to the left.

When our attorneys review your situation, we will help you determine what your secured debts are, and what your unsecured debts are. Unsecured debts that can not usually be eliminated include certain taxes, domestic obligations (like child support) student loans (unless undue hardship is shown), and improper use of credit before filing.

Even if filing for bankruptcy is not the option for you, we have many other effective options to help you save your home and/or put you back in a more suitable financial position. We offer a variety of services from Debt Settlement, Credit Restoration, and mortgage Loan modifications. We may be able to stop the creditors from harassing you and keep your assets. Federal law puts real restrictions on how and when debt collectors can contact you. Our team of Lawyers uses the fair debt collection act to your advantage.

Now if you decide to file for bankruptcy, the bankruptcy court imposes something called an "automatic stay" upon your creditors. From that time forward, your creditors can take no further action to collect their debts. Instead, creditors must participate in the bankruptcy court process if they want to contest a discharge of your debt. We here at the San Diego Bankruptcy Law Center possess a team of trained lawyers and paralegals that specialize specifically in the area of Bankruptcy law. Our main office is centrally located in the heart of downtown San Diego, and we cater specifically to the local San Diego area community. If you want to find out more about stopping harassment from debt collectors, please contact San Diego Bankruptcy Law Center at 1-800-551-7922 to speak with a trained lawyer today.

The Bankruptcy Law Center is a local San Diego Law Firm. We specialize in the field of Bankruptcy Law. Our team of lawyers can help you save your home in California or even a rental property located in another state. Our lawyers have filed thousands of Chapter 7 Bankruptcy cases and Chapter 13 Bankruptcy Cases all throughout California. Our team is licensed to file bankruptcy cases in the Northern District (bay area), Central District (Los Angeles) however, we focus the majority of our firm's bankruptcy filings in the Southern District of California Bankruptcy Court (San Diego). Every one of the lawyers at the Bankruptcy Law Center has appeared in front of every judge in the Bankruptcy Court in San Diego on countless occasions. The Bankruptcy Attorneys at our office are thoroughly familiar with every judge and trustee in the San Diego Bankruptcy Court. Our legal team has extensive experience and knowledge regarding the Bankruptcy Code, which allows us to save your home from foreclosure, wipe out your credit card debt, erase your medical bills, and even wipe out your 2nd mortgage. Many people are unaware of where to look for a good Bankruptcy Attorney in San Diego. This can be a very troubling time for you and the last thing you want to do when suffering from overwhelming debt and loss of income is to worry about choosing the wrong lawyer. As you can see from our website’s attorney biographies, our law firm has compiled a team of experienced and qualified bankruptcy lawyers. The Bankruptcy Law Center in San Diego is a local law firm that focuses only on Bankruptcy Law. Our Supervising Bankruptcy Attorney, Scott Orona, has been practicing Bankruptcy Law for over 25 years. Ahren Tiller, another San Diego Bankruptcy Lawyer, has filed over 1000 bankruptcy cases, and has defended multiple clients in numerous adversarial proceedings in Bankruptcy. Every Lawyer at our office is well versed in every area of Bankruptcy Law. We have compiled a team of Bankruptcy Lawyers and paralegals, which will diligently represent you through the troubling process of filing for bankruptcy. A Chapter 7 Bankruptcy can wipe out all of your unsecured debt and give you the “fresh start” you so desperately need. Many individuals actually have better credit after they file for a Chapter 7 Bankruptcy. The reason being is that once you file for bankruptcy and receive a discharge of your unsecured debts, you no longer are obligated to pay those monthly installment payments. Since you no longer have those monthly payments post-filing, you have more disposable monthly income (more money in your pocket). Furthermore, since you can only file for a Bankruptcy once every eight (8) years, you no longer pose a risk to creditors to file a bankruptcy on any new debt you incur after filing. Thus, your credit improves after filing bankruptcy due to having more money in your pocket and now being less of a risk to file bankruptcy on any new debt you incur post-filing. If you have any questions regarding bankruptcy, how to save your home, how to save your car, or just general questions regarding the San Diego Bankruptcy Court, please do not hesitate to give us a call to set up a FREE consultation at 1-800-551-7922.

Bankruptcy Code TITLE 11—BANKRUPTCY This title was enacted by Pub. L. 95–598, title I, § 101, Nov. 6, 1978, 92 Stat. 2549 Chap. Sec. 1. General Provisions ............................. 101 3. Case Administration ........................... 301 5. Creditors, the Debtor, and the Estate ...................................................... 501 7. Liquidation ........................................... 701 9. Adjustment of Debts of a Municipality ................................................... 901 11. Reorganization .................................... 1101 12. Adjustments of Debts of a Family Farmer or Family Fisherman with Regular Annual Income 1 ..... 1201 13. Adjustment of Debts of an Individual With Regular Income ............... 1301 15. Ancillary and Other Cross-Border Cases ................................................... 1501 AMENDMENTS 2005—Pub. L. 109–8, title VIII, § 801(b), title X, § 1007(d), Apr. 20, 2005, 119 Stat. 145, 188, substituted ‘‘Adjustments of Debts of a Family Farmer or Family Fisherman with Regular Annual Income’’ for ‘‘Adjustment of Debts of Family Farmers with Regular Annual Income’’ in item for chapter 12 and added item for chapter 15. 1994—Pub. L. 103–394, title V, § 501(d)(39), Oct. 22, 1994, 108 Stat. 4147, struck out item for chapter 15, ‘‘United States Trustees’’. 1986—Pub. L. 99–554, title II, § 257(a), Oct. 27, 1986, 100 Stat. 3114, added item for chapter 12. TABLE I This Table lists the sections of former Title 11, Bankruptcy, and indicates the sections of Title 11, as revised by Pub. L. 95–598 which cover similar and related subject matter. Title 11 Former Sections Title 11 New Sections ENACTING CLAUSE Pub. L. 95–598, title I, § 101, Nov. 6, 1978, 92 Stat. 2549, provided in part: ‘‘The law relating to bankruptcy is codified and enacted as title 11 of the United States Page 7 TITLE 11—BANKRUPTCY Code, entitled ‘Bankruptcy’, and may be cited as 11 U.S.C. § —.’’ REPEALS Pub. L. 95–598, title IV, § 401(a), Nov. 6, 1978, 92 Stat. 2682, provided that: ‘‘The Bankruptcy Act [act July 1, 1898, ch. 541, 30 Stat. 544, as amended] is repealed.’’ EFFECTIVE DATE Pub. L. 95–598, title IV, § 402, Nov. 6, 1978, 92 Stat. 2682, as amended by Pub. L. 98–249, § 1(a), Mar. 31, 1984, 98 Stat. 116; Pub. L. 98–271, § 1(a), Apr. 30, 1984, 98 Stat. 163; Pub. L. 98–299, § 1(a), May 25, 1984, 98 Stat. 214; Pub. L. 98–325, § 1(a), June 20, 1984, 98 Stat. 268; Pub. L. 98–353, title I, §§ 113, 121(a), July 10, 1984, 98 Stat. 343, 345; Pub. L. 98–454, title X, § 1001, Oct. 5, 1984, 98 Stat. 1745, provided that: ‘‘(a) Except as otherwise provided in this title [sections 401 to 411], this Act [for classification to the Code, see Tables] shall take effect on October 1, 1979. ‘‘(b) Except as provided in subsections (c) and (d) of this section, the amendments made by title II [sections 201 to 252] of this Act shall not be effective. ‘‘(c) The amendments made by sections 210, 214, 219, 220, 222, 224, 225, 228, 229, 235, 244, 245, 246, 249, and 251 of this Act shall take effect on October 1, 1979. ‘‘(d) The amendments made by sections 217, 218, 230, 247, 302, 314(j), 317, 327, 328, 338, and 411 of this Act shall take effect on the date of enactment of this Act [Nov. 6, 1978]. ‘‘(e) [Repealed. Pub. L. 98–454, title X, § 1001, Oct. 5, 1984, 98 Stat. 1745].’’ [Amendment of section 402(b) of Pub. L. 95–598, set out above, by section 113 of Pub. L. 98–353 effective June 27, 1984, see section 122(c) of Pub. L. 98–353, set out as an Effective Date note under section 151 of Title 28, Judiciary and Judicial Procedure.] SAVINGS PROVISION Pub. L. 95–598, title IV, § 403, Nov. 6, 1978, 92 Stat. 2683, as amended by Pub. L. 98–353, title III, § 382, July 10, 1984, 98 Stat. 364, provided that: ‘‘(a) A case commenced under the Bankruptcy Act, [act July 1, 1898, ch. 541, 30 Stat. 544, as amended], and all matters and proceedings in or relating to any such case, shall be conducted and determined under such Act as if this Act had not been enacted, and the substantive rights of parties in connection with any such bankruptcy case, matter, or proceeding shall continue to be governed by the law applicable to such case, matter, or proceeding as if the [this] Act had not been enacted. ‘‘(b) Notwithstanding subsection (a) of this section, sections 1165, 1167, 1168, 1169, and 1171 of title 11 of the United States Code, as enacted by section 101 of this Act, apply to cases pending under section 77 of the Bankruptcy Act ([former] 11 U.S.C. 205) on the date of enactment of this Act [Nov. 6, 1978] in which the trustee has not filed a plan of reorganization. ‘‘(c) The repeal [of the Bankruptcy Act] made by section 401(a) of this Act does not affect any right of a referee in bankruptcy, United States bankruptcy judge, or survivor of a referee in bankruptcy or United States bankruptcy judge to receive any annuity or other payment under the civil service retirement laws. ‘‘(d) The amendments made by section 314 of this Act [for classification to the Code, see Tables] do not affect the application of chapter 9, chapter 96, section 2516, section 3057, or section 3284 of title 18 of the United States Code to any act of any person— ‘‘(1) committed before October 1, 1979; or ‘‘(2) committed after October 1, 1979, in connection with a case commenced before such date. ‘‘(e) Notwithstanding subsection (a) of this section— ‘‘(1) a fee may not be charged under section 40c(2)(a) of the Bankruptcy Act [former 11 U.S.C. 68(c)(2)(a)] in a case pending under such Act after September 30, 1979, to the extent that such fee exceeds $200,000; ‘‘(2) a fee may not be charged under section 40c(2)(b) of the Bankruptcy Act in a case in which the plan is confirmed after September 30, 1978, or in which the final determination as to the amount of such fee is made after September 30, 1979, notwithstanding an earlier confirmation date, to the extent that such fee exceeds $100,000; ‘‘(3) after September 30, 1979, all moneys collected for payment into the referees’ salary and expense fund in cases filed under the Bankruptcy Act shall be collected and paid into the general fund of the Treasury; and ‘‘(4) any balance in the referees’ salary and expense fund in the Treasury on October 1, 1979, shall be transferred to the general fund of the Treasury and the referees’ salary and expense fund account shall be closed.’’ Pub. L. 98–353, title III, § 381, July 10, 1984, 98 Stat. 364, provided that: ‘‘This subtitle [(§§ 381, 382) amending section 403(e) of Pub. L. 95–598, set out above] may be cited as the ‘Referees Salary and Expense Fund Act of 1984’.’’ HISTORY OF BANKRUPTCY ACTS The bankruptcy laws were revised generally and enacted as Title 11, Bankruptcy, by Pub. L. 96–598, Nov. 6, 1978, 92 Stat. 2549. Earlier bankruptcy laws included the following acts: Apr. 4, 1800, ch. 19, 2 Stat. 19, repealed Dec. 19, 1803, ch. 6, 2 Stat. 248. Aug. 19, 1841, ch. 9, 5 Stat. 440, repealed Mar. 3, 1843, ch. 82, 5 Stat. 614. Mar. 2, 1867, ch. 176, 14 Stat. 517, the provisions of which were incorporated in Rev. Stat. Title LXI, §§ 4972 to 5132, were materially amended June 22, 1874, ch. 390, 18 Stat. 178, and were repealed June 7, 1878, ch. 160, 20 Stat. 99. The Bankruptcy Act of July 1, 1898, ch. 541, 30 Stat. 544, as amended, sometimes called the Nelson Act, repealed by Pub. L. 95–598. The Chandler Act of July 22, 1938, ch. 575, 52 Stat. 883, which revised the Bankruptcy Act generally and materially amended the provisions covering corporate reorganizations, repealed by Pub. L. 95–598. NATIONAL BANKRUPTCY REVIEW COMMISSION Pub. L. 103–394, title VI, Oct. 22, 1994, 108 Stat. 4147, established the National Bankruptcy Review Commission to (1) investigate and study issues and problems relating to title 11, United States Code, (2) evaluate the advisability of proposals and current arrangements with respect to such issues and problems, (3) solicit divergent views of all parties concerned with the operation of the bankruptcy system, and (4) prepare and submit to the Congress, the Chief Justice, and the President a report not later than 2 years after the date of its first meeting, and provided for termination of the Commission 30 days after submission of the report which was submitted on Oct. 20, 1997. COMMISSION ON THE BANKRUPTCY LAWS OF THE UNITED STATES Pub. L. 91–354, §§ 1–6, July 24, 1970, 84 Stat. 468, as amended by Pub. L. 92–251, Mar. 17, 1972, 86 Stat. 63; Pub. L. 93–56, § 1, July 1, 1973, 87 Stat. 140, established the Commission on the Bankruptcy Laws of the United States, to study and recommend changes to this title, which ceased to exist 30 days after the date of submission of its final report which was required prior to July 31, 1973. CHAPTER 1—GENERAL PROVISIONS Sec. 101. Definitions. 102. Rules of construction. 103. Applicability of chapters. 104. Adjustment of dollar amounts. 105. Power of court. 106. Waiver of sovereign immunity. 107. Public access to papers. § 101 TITLE 11—BANKRUPTCY Page 8 Sec. 108. Extension of time. 109. Who may be a debtor. 110. Penalty for persons who negligently or fraudulently prepare bankruptcy petitions. 111. Nonprofit budget and credit counseling agencies; financial management instructional courses. 112. Prohibition on disclosure of name of minor children. AMENDMENTS 2005—Pub. L. 109–8, title I, § 106(e)(2), title II, § 233(b), Apr. 20, 2005, 119 Stat. 41, 74, added items 111 and 112. 1994—Pub. L. 103–394, title III, § 308(b), Oct. 22, 1994, 108 Stat. 4137, added item 110. § 101. Definitions In this title the following definitions shall apply: (1) The term ‘‘accountant’’ means accountant authorized under applicable law to practice public accounting, and includes professional accounting association, corporation, or partnership, if so authorized. (2) The term ‘‘affiliate’’ means— (A) entity that directly or indirectly owns, controls, or holds with power to vote, 20 percent or more of the outstanding voting securities of the debtor, other than an entity that holds such securities— (i) in a fiduciary or agency capacity without sole discretionary power to vote such securities; or (ii) solely to secure a debt, if such entity has not in fact exercised such power to vote; (B) corporation 20 percent or more of whose outstanding voting securities are directly or indirectly owned, controlled, or held with power to vote, by the debtor, or by an entity that directly or indirectly owns, controls, or holds with power to vote, 20 percent or more of the outstanding voting securities of the debtor, other than an entity that holds such securities— (i) in a fiduciary or agency capacity without sole discretionary power to vote such securities; or (ii) solely to secure a debt, if such entity has not in fact exercised such power to vote; (C) person whose business is operated under a lease or operating agreement by a debtor, or person substantially all of whose property is operated under an operating agreement with the debtor; or (D) entity that operates the business or substantially all of the property of the debtor under a lease or operating agreement. (3) The term ‘‘assisted person’’ means any person whose debts consist primarily of consumer debts and the value of whose nonexempt property is less than $150,000. (4) The term ‘‘attorney’’ means attorney, professional law association, corporation, or partnership, authorized under applicable law to practice law. (4A) The term ‘‘bankruptcy assistance’’ means any goods or services sold or otherwise provided to an assisted person with the express or implied purpose of providing information, advice, counsel, document preparation, or filing, or attendance at a creditors’ meeting or appearing in a case or proceeding on behalf of another or providing legal representation with respect to a case or proceeding under this title. (5) The term ‘‘claim’’ means— (A) right to payment, whether or not such right is reduced to judgment, liquidated, unliquidated, fixed, contingent, matured, unmatured, disputed, undisputed, legal, equitable, secured, or unsecured; or (B) right to an equitable remedy for breach of performance if such breach gives rise to a right to payment, whether or not such right to an equitable remedy is reduced to judgment, fixed, contingent, matured, unmatured, disputed, undisputed, secured, or unsecured. (6) The term ‘‘commodity broker’’ means futures commission merchant, foreign futures commission merchant, clearing organization, leverage transaction merchant, or commodity options dealer, as defined in section 761 of this title, with respect to which there is a customer, as defined in section 761 of this title. (7) The term ‘‘community claim’’ means claim that arose before the commencement of the case concerning the debtor for which property of the kind specified in section 541(a)(2) of this title is liable, whether or not there is any such property at the time of the commencement of the case. (7A) The term ‘‘commercial fishing operation’’ means— (A) the catching or harvesting of fish, shrimp, lobsters, urchins, seaweed, shellfish, or other aquatic species or products of such species; or (B) for purposes of section 109 and chapter 12, aquaculture activities consisting of raising for market any species or product described in subparagraph (A). (7B) The term ‘‘commercial fishing vessel’’ means a vessel used by a family fisherman to carry out a commercial fishing operation. (8) The term ‘‘consumer debt’’ means debt incurred by an individual primarily for a personal, family, or household purpose. (9) The term ‘‘corporation’’— (A) includes— (i) association having a power or privilege that a private corporation, but not an individual or a partnership, possesses; (ii) partnership association organized under a law that makes only the capital subscribed responsible for the debts of such association; (iii) joint-stock company; (iv) unincorporated company or association; or (v) business trust; but (B) does not include limited partnership. (10) The term ‘‘creditor’’ means— (A) entity that has a claim against the debtor that arose at the time of or before the order for relief concerning the debtor; (B) entity that has a claim against the estate of a kind specified in section 348(d), 502(f), 502(g), 502(h) or 502(i) of this title; or Page 9 TITLE 11—BANKRUPTCY § 101 (C) entity that has a community claim. (10A) The term ‘‘current monthly income’’— (A) means the average monthly income from all sources that the debtor receives (or in a joint case the debtor and the debtor’s spouse receive) without regard to whether such income is taxable income, derived during the 6-month period ending on— (i) the last day of the calendar month immediately preceding the date of the commencement of the case if the debtor files the schedule of current income required by section 521(a)(1)(B)(ii); or (ii) the date on which current income is determined by the court for purposes of this title if the debtor does not file the schedule of current income required by section 521(a)(1)(B)(ii); and (B) includes any amount paid by any entity other than the debtor (or in a joint case the debtor and the debtor’s spouse), on a regular basis for the household expenses of the debtor or the debtor’s dependents (and in a joint case the debtor’s spouse if not otherwise a dependent), but excludes benefits received under the Social Security Act, payments to victims of war crimes or crimes against humanity on account of their status as victims of such crimes, and payments to victims of international terrorism (as defined in section 2331 of title 18) or domestic terrorism (as defined in section 2331 of title 18) on account of their status as victims of such terrorism. (11) The term ‘‘custodian’’ means— (A) receiver or trustee of any of the property of the debtor, appointed in a case or proceeding not under this title; (B) assignee under a general assignment for the benefit of the debtor’s creditors; or (C) trustee, receiver, or agent under applicable law, or under a contract, that is appointed or authorized to take charge of property of the debtor for the purpose of enforcing a lien against such property, or for the purpose of general administration of such property for the benefit of the debtor’s creditors. (12) The term ‘‘debt’’ means liability on a claim. (12A) The term ‘‘debt relief agency’’ means any person who provides any bankruptcy assistance to an assisted person in return for the payment of money or other valuable consideration, or who is a bankruptcy petition preparer under section 110, but does not include— (A) any person who is an officer, director, employee, or agent of a person who provides such assistance or of the bankruptcy petition preparer; (B) a nonprofit organization that is exempt from taxation under section 501(c)(3) of the Internal Revenue Code of 1986; (C) a creditor of such assisted person, to the extent that the creditor is assisting such assisted person to restructure any debt owed by such assisted person to the creditor; (D) a depository institution (as defined in section 3 of the Federal Deposit Insurance Act) or any Federal credit union or State credit union (as those terms are defined in section 101 of the Federal Credit Union Act), or any affiliate or subsidiary of such depository institution or credit union; or (E) an author, publisher, distributor, or seller of works subject to copyright protection under title 17, when acting in such capacity. (13) The term ‘‘debtor’’ means person or municipality concerning which a case under this title has been commenced. (13A) The term ‘‘debtor’s principal residence’’— (A) means a residential structure, including incidental property, without regard to whether that structure is attached to real property; and (B) includes an individual condominium or cooperative unit, a mobile or manufactured home, or trailer. (14) The term ‘‘disinterested person’’ means a person that— (A) is not a creditor, an equity security holder, or an insider; (B) is not and was not, within 2 years before the date of the filing of the petition, a director, officer, or employee of the debtor; and (C) does not have an interest materially adverse to the interest of the estate or of any class of creditors or equity security holders, by reason of any direct or indirect relationship to, connection with, or interest in, the debtor, or for any other reason. (14A) The term ‘‘domestic support obligation’’ means a debt that accrues before, on, or after the date of the order for relief in a case under this title, including interest that accrues on that debt as provided under applicable nonbankruptcy law notwithstanding any other provision of this title, that is— (A) owed to or recoverable by— (i) a spouse, former spouse, or child of the debtor or such child’s parent, legal guardian, or responsible relative; or (ii) a governmental unit; (B) in the nature of alimony, maintenance, or support (including assistance provided by a governmental unit) of such spouse, former spouse, or child of the debtor or such child’s parent, without regard to whether such debt is expressly so designated; (C) established or subject to establishment before, on, or after the date of the order for relief in a case under this title, by reason of applicable provisions of— (i) a separation agreement, divorce decree, or property settlement agreement; (ii) an order of a court of record; or (iii) a determination made in accordance with applicable nonbankruptcy law by a governmental unit; and (D) not assigned to a nongovernmental entity, unless that obligation is assigned voluntarily by the spouse, former spouse, child of the debtor, or such child’s parent, legal guardian, or responsible relative for the purpose of collecting the debt. § 101 TITLE 11—BANKRUPTCY Page 10 (15) The term ‘‘entity’’ includes person, estate, trust, governmental unit, and United States trustee. (16) The term ‘‘equity security’’ means— (A) share in a corporation, whether or not transferable or denominated ‘‘stock’’, or similar security; (B) interest of a limited partner in a limited partnership; or (C) warrant or right, other than a right to convert, to purchase, sell, or subscribe to a share, security, or interest of a kind specified in subparagraph (A) or (B) of this paragraph. (17) The term ‘‘equity security holder’’ means holder of an equity security of the debtor. (18) The term ‘‘family farmer’’ means— (A) individual or individual and spouse engaged in a farming operation whose aggregate debts do not exceed $3,237,000 and not less than 50 percent of whose aggregate noncontingent, liquidated debts (excluding a debt for the principal residence of such individual or such individual and spouse unless such debt arises out of a farming operation), on the date the case is filed, arise out of a farming operation owned or operated by such individual or such individual and spouse, and such individual or such individual and spouse receive from such farming operation more than 50 percent of such individual’s or such individual and spouse’s gross income for— (i) the taxable year preceding; or (ii) each of the 2d and 3d taxable years preceding; the taxable year in which the case concerning such individual or such individual and spouse was filed; or (B) corporation or partnership in which more than 50 percent of the outstanding stock or equity is held by one family, or by one family and the relatives of the members of such family, and such family or such relatives conduct the farming operation, and (i) more than 80 percent of the value of its assets consists of assets related to the farming operation; (ii) its aggregate debts do not exceed $3,237,000 and not less than 50 percent of its aggregate noncontingent, liquidated debts (excluding a debt for one dwelling which is owned by such corporation or partnership and which a shareholder or partner maintains as a principal residence, unless such debt arises out of a farming operation), on the date the case is filed, arise out of the farming operation owned or operated by such corporation or such partnership; and (iii) if such corporation issues stock, such stock is not publicly traded. (19) The term ‘‘family farmer with regular annual income’’ means family farmer whose annual income is sufficiently stable and regular to enable such family farmer to make payments under a plan under chapter 12 of this title. (19A) The term ‘‘family fisherman’’ means— (A) an individual or individual and spouse engaged in a commercial fishing operation— (i) whose aggregate debts do not exceed $1,500,000 and not less than 80 percent of whose aggregate noncontingent, liquidated debts (excluding a debt for the principal residence of such individual or such individual and spouse, unless such debt arises out of a commercial fishing operation), on the date the case is filed, arise out of a commercial fishing operation owned or operated by such individual or such individual and spouse; and (ii) who receive from such commercial fishing operation more than 50 percent of such individual’s or such individual’s and spouse’s gross income for the taxable year preceding the taxable year in which the case concerning such individual or such individual and spouse was filed; or (B) a corporation or partnership— (i) in which more than 50 percent of the outstanding stock or equity is held by— (I) 1 family that conducts the commercial fishing operation; or (II) 1 family and the relatives of the members of such family, and such family or such relatives conduct the commercial fishing operation; and (ii)(I) more than 80 percent of the value of its assets consists of assets related to the commercial fishing operation; (II) its aggregate debts do not exceed $1,500,000 and not less than 80 percent of its aggregate noncontingent, liquidated debts (excluding a debt for 1 dwelling which is owned by such corporation or partnership and which a shareholder or partner maintains as a principal residence, unless such debt arises out of a commercial fishing operation), on the date the case is filed, arise out of a commercial fishing operation owned or operated by such corporation or such partnership; and (III) if such corporation issues stock, such stock is not publicly traded. (19B) The term ‘‘family fisherman with regular annual income’’ means a family fisherman whose annual income is sufficiently stable and regular to enable such family fisherman to make payments under a plan under chapter 12 of this title. (20) The term ‘‘farmer’’ means (except when such term appears in the term ‘‘family farmer’’) person that received more than 80 percent of such person’s gross income during the taxable year of such person immediately preceding the taxable year of such person during which the case under this title concerning such person was commenced from a farming operation owned or operated by such person. (21) The term ‘‘farming operation’’ includes farming, tillage of the soil, dairy farming, ranching, production or raising of crops, poultry, or livestock, and production of poultry or livestock products in an unmanufactured state. (21A) The term ‘‘farmout agreement’’ means a written agreement in which— (A) the owner of a right to drill, produce, or operate liquid or gaseous hydrocarbons on property agrees or has agreed to transfer or Page 11 TITLE 11—BANKRUPTCY § 101 1 So in original. Probably should be followed by a comma. assign all or a part of such right to another entity; and (B) such other entity (either directly or through its agents or its assigns), as consideration, agrees to perform drilling, reworking, recompleting, testing, or similar or related operations, to develop or produce liquid or gaseous hydrocarbons on the property. (21B) The term ‘‘Federal depository institutions regulatory agency’’ means— (A) with respect to an insured depository institution (as defined in section 3(c)(2) of the Federal Deposit Insurance Act) for which no conservator or receiver has been appointed, the appropriate Federal banking agency (as defined in section 3(q) of such Act); (B) with respect to an insured credit union (including an insured credit union for which the National Credit Union Administration has been appointed conservator or liquidating agent), the National Credit Union Administration; (C) with respect to any insured depository institution for which the Resolution Trust Corporation has been appointed conservator or receiver, the Resolution Trust Corporation; and (D) with respect to any insured depository institution for which the Federal Deposit Insurance Corporation has been appointed conservator or receiver, the Federal Deposit Insurance Corporation. (22) The term ‘‘financial institution’’ means— (A) a Federal reserve bank, or an entity that is a commercial or savings bank, industrial savings bank, savings and loan association, trust company, federally-insured credit union, or receiver, liquidating agent, or conservator for such entity and, when any such Federal reserve bank, receiver, liquidating agent, conservator or entity is acting as agent or custodian for a customer (whether or not a ‘‘customer’’, as defined in section 741) in connection with a securities contract (as defined in section 741) such customer; or (B) in connection with a securities contract (as defined in section 741) an investment company registered under the Investment Company Act of 1940. (22A) The term ‘‘financial participant’’ means— (A) an entity that, at the time it enters into a securities contract, commodity contract, swap agreement, repurchase agreement, or forward contract, or at the time of the date of the filing of the petition, has one or more agreements or transactions described in paragraph (1), (2), (3), (4), (5), or (6) of section 561(a) with the debtor or any other entity (other than an affiliate) of a total gross dollar value of not less than $1,000,000,000 in notional or actual principal amount outstanding (aggregated across counterparties) at such time or on any day during the 15-month period preceding the date of the filing of the petition, or has gross mark-to-market positions of not less than $100,000,000 (aggregated across counterparties) in one or more such agreements or transactions with the debtor or any other entity (other than an affiliate) at such time or on any day during the 15-month period preceding the date of the filing of the petition; or (B) a clearing organization (as defined in section 402 of the Federal Deposit Insurance Corporation Improvement Act of 1991). (23) The term ‘‘foreign proceeding’’ means a collective judicial or administrative proceeding in a foreign country, including an interim proceeding, under a law relating to insolvency or adjustment of debt in which proceeding the assets and affairs of the debtor are subject to control or supervision by a foreign court, for the purpose of reorganization or liquidation. (24) The term ‘‘foreign representative’’ means a person or body, including a person or body appointed on an interim basis, authorized in a foreign proceeding to administer the reorganization or the liquidation of the debtor’s assets or affairs or to act as a representative of such foreign proceeding. (25) The term ‘‘forward contract’’ means— (A) a contract (other than a commodity contract, as defined in section 761) for the purchase, sale, or transfer of a commodity, as defined in section 761(8) of this title, or any similar good, article, service, right, or interest which is presently or in the future becomes the subject of dealing in the forward contract trade, or product or byproduct thereof, with a maturity date more than two days after the date the contract is entered into, including, but not limited to, a repurchase or reverse repurchase transaction (whether or not such repurchase or reverse repurchase transaction is a ‘‘repurchase agreement’’, as defined in this section) 1 consignment, lease, swap, hedge transaction, deposit, loan, option, allocated transaction, unallocated transaction, or any other similar agreement; (B) any combination of agreements or transactions referred to in subparagraphs (A) and (C); (C) any option to enter into an agreement or transaction referred to in subparagraph (A) or (B); (D) a master agreement that provides for an agreement or transaction referred to in subparagraph (A), (B), or (C), together with all supplements to any such master agreement, without regard to whether such master agreement provides for an agreement or transaction that is not a forward contract under this paragraph, except that such master agreement shall be considered to be a forward contract under this paragraph only with respect to each agreement or transaction under such master agreement that is referred to in subparagraph (A), (B), or (C); or (E) any security agreement or arrangement, or other credit enhancement related to any agreement or transaction referred to § 101 TITLE 11—BANKRUPTCY Page 12 in subparagraph (A), (B), (C), or (D), including any guarantee or reimbursement obligation by or to a forward contract merchant or financial participant in connection with any agreement or transaction referred to in any such subparagraph, but not to exceed the damages in connection with any such agreement or transaction, measured in accordance with section 562. (26) The term ‘‘forward contract merchant’’ means a Federal reserve bank, or an entity the business of which consists in whole or in part of entering into forward contracts as or with merchants in a commodity (as defined in section 761) or any similar good, article, service, right, or interest which is presently or in the future becomes the subject of dealing in the forward contract trade. (27) The term ‘‘governmental unit’’ means United States; State; Commonwealth; District; Territory; municipality; foreign state; department, agency, or instrumentality of the United States (but not a United States trustee while serving as a trustee in a case under this title), a State, a Commonwealth, a District, a Territory, a municipality, or a foreign state; or other foreign or domestic government. (27A) The term ‘‘health care business’’— (A) means any public or private entity (without regard to whether that entity is organized for profit or not for profit) that is primarily engaged in offering to the general public facilities and services for— (i) the diagnosis or treatment of injury, deformity, or disease; and (ii) surgical, drug treatment, psychiatric, or obstetric care; and (B) includes— (i) any— (I) general or specialized hospital; (II) ancillary ambulatory, emergency, or surgical treatment facility; (III) hospice; (IV) home health agency; and (V) other health care institution that is similar to an entity referred to in subclause (I), (II), (III), or (IV); and (ii) any long-term care facility, including any— (I) skilled nursing facility; (II) intermediate care facility; (III) assisted living facility; (IV) home for the aged; (V) domiciliary care facility; and (VI) health care institution that is related to a facility referred to in subclause (I), (II), (III), (IV), or (V), if that institution is primarily engaged in offering room, board, laundry, or personal assistance with activities of daily living and incidentals to activities of daily living. (27B) The term ‘‘incidental property’’ means, with respect to a debtor’s principal residence— (A) property commonly conveyed with a principal residence in the area where the real property is located; (B) all easements, rights, appurtenances, fixtures, rents, royalties, mineral rights, oil or gas rights or profits, water rights, escrow funds, or insurance proceeds; and (C) all replacements or additions. (28) The term ‘‘indenture’’ means mortgage, deed of trust, or indenture, under which there is outstanding a security, other than a votingtrust certificate, constituting a claim against the debtor, a claim secured by a lien on any of the debtor’s property, or an equity security of the debtor. (29) The term ‘‘indenture trustee’’ means trustee under an indenture. (30) The term ‘‘individual with regular income’’ means individual whose income is sufficiently stable and regular to enable such individual to make payments under a plan under chapter 13 of this title, other than a stockbroker or a commodity broker. (31) The term ‘‘insider’’ includes— (A) if the debtor is an individual— (i) relative of the debtor or of a general partner of the debtor; (ii) partnership in which the debtor is a general partner; (iii) general partner of the debtor; or (iv) corporation of which the debtor is a director, officer, or person in control; (B) if the debtor is a corporation— (i) director of the debtor; (ii) officer of the debtor; (iii) person in control of the debtor; (iv) partnership in which the debtor is a general partner; (v) general partner of the debtor; or (vi) relative of a general partner, director, officer, or person in control of the debtor; (C) if the debtor is a partnership— (i) general partner in the debtor; (ii) relative of a general partner in, general partner of, or person in control of the debtor; (iii) partnership in which the debtor is a general partner; (iv) general partner of the debtor; or (v) person in control of the debtor; (D) if the debtor is a municipality, elected official of the debtor or relative of an elected official of the debtor; (E) affiliate, or insider of an affiliate as if such affiliate were the debtor; and (F) managing agent of the debtor. (32) The term ‘‘insolvent’’ means— (A) with reference to an entity other than a partnership and a municipality, financial condition such that the sum of such entity’s debts is greater than all of such entity’s property, at a fair valuation, exclusive of— (i) property transferred, concealed, or removed with intent to hinder, delay, or defraud such entity’s creditors; and (ii) property that may be exempted from property of the estate under section 522 of this title; (B) with reference to a partnership, financial condition such that the sum of such partnership’s debts is greater than the aggregate of, at a fair valuation—