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united states bankruptcy court

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A United States bankruptcy court is a federal court that has subject matter jurisdiction over bankruptcy cases. Bankruptcy cases cannot be filed in state court. Each of the 94 federal judicial districts handles bankruptcy matters.

The bankruptcy judges in each judicial district in regular active service constitute a “unit” of the applicable United States district court (see 28 U.S.C. § 151). The bankruptcy judge is appointed for a term of 14 years by the United States court of appeals for the circuit in which the applicable district is located (see 28 U.S.C. § 152).

Technically, the United States district courts have subject matter jurisdiction over bankruptcy matters (see 28 U.S.C. § 1334(a)). However, each such district court may, by order, “refer” bankruptcy matters to the bankruptcy court (see 28 U.S.C. § 157(a)). As a practical matter, most district courts have a standing “reference” order to that effect, so that all bankruptcy cases in that district are handled, at least initially, by the bankruptcy court. In unusual circumstances, a district court may in a particular case “withdraw the reference” (i.e., take the case or a particular proceeding within the case away from the bankruptcy court and decide the matter itself) under 28 U.S.C. § 157(d).

The overwhelming majority of all proceedings in bankruptcy are held before a United States bankruptcy judge, whose decision in all matters is final, subject to appeals to the district judge for review of the decision.

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Here's our top rated united states bankruptcy court links for the day:

Court Approves Armstrong Holdings, Inc. Settlement with Armstrong World Industries, Inc.; Holdings' Annual Financial ... 

[Press Release] PR Newswire via Yahoo! Finance - Apr 02 1:15 PM
Armstrong Holdings, Inc. announced today that the United States Bankruptcy Court for the District of Delaware has approved the Company's settlement with its former subsidiary, Armstrong World Industries, Inc. .
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Lender Files For Bankruptcy, Fires 3,200 
ABC 7 Denver - Apr 03 1:44 PM
Subprime lender New Century files for bankruptcy and fires 3,200 employees.
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Subprime Lender Files For Bankruptcy 
WGAL 8 Susquehanna Valley - Apr 03 1:47 PM
New Century Financial files for bankruptcy protection and fires more than half its workforce.
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MIDDAY BUSINESS REPORT: California subprime lender seeks bankruptcy protection 
Kansas City Star - Apr 02 11:20 PM
Embattled subprime mortgage lender New Century Financial Corp. filed for bankruptcy protection from its creditors this morning.
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U.S. home lender files for bankruptcy protection 
International Herald Tribune - Apr 03 6:33 AM
New Century Financial has become the biggest, and most prominent, corporate failure in the U.S. subprime mortgage business.
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3 pilots ask a federal court for a ruling on flying past the age of 60 
The York Dispatch - Apr 03 8:21 AM
HARRISBURG -- An airline pilot from Pennsylvania and two others who want to keep flying past the mandatory retirement age of 60 have asked a federal court to help them stay in the skies.
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Sale of Williamston plant approved 
Lansing State Journal - Apr 03 1:27 AM
A bankruptcy court has approved the sale of auto parts supplier Collins & Aikman Corp.'s Williamston operation.
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BUSINESS DIGEST 
San Jose Mercury News - 29 minutes ago
Bankruptcy judge OKs borrowing by New Century New Century Financial, the largest subprime lender in bankruptcy, can borrow up to $150 million to stay open while it auctions off its assets, a judge ruled. U.
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Mortgage lender New Century Financial files for bankruptcy 
International Herald Tribune - Apr 02 3:19 PM
The real estate investment trust listed liabilities of more than $100 million.
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Dana, Unions Argue Wage, Benefit Cuts 
AP via Yahoo! Finance - Apr 03 12:08 PM
Dana Corp. needs to cut labor costs and retirement obligations in order to emerge from bankruptcy and compete with cheaper overseas suppliers, lawyers for the auto parts maker argued Tuesday in asking for the right to make the cuts.
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Last Update: 2007-04-04 02:29:13

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