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 LATEST NEWS |
November 20.2008
ALTUS MAN SENTENCED 41 MONTHS AND MUST PAY OVER $4 MILLION IN RESTITUTION FOR USING FAKE CHURCH BOND TO DEFRAUD WESTERN OKLAHOMA BANKS |
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November 19.2008
Interim Assistant Secretary Neel Kashkari Remarks on Implementation of the Emergency Economic Stabilization Act |
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November 19.2008
Company to Pay $5.6 Million for Allegedly Overcharging U.S. on Contract to Recruit & Select Airport Screeners |
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November 19.2008
SENATOR DIANNE WILKERSON INDICTED FOR ATTEMPTED EXTORTION |
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November 19.2008
Former State Senator Wayne Bryant Guilty of all Counts for Schemes to Obtain a Corrupt Low-show Job at UMDNJ and Fraudulently Pad State Pension – Former Dean of Medical School Also Convicted – |
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November 19.2008
FORMER BROKERAGE FIRM CEO CHARGED IN NATURAL GAS MISMARKING SCHEME AND FORMER LEAD TRADER AT BANK OF MONTREAL PLEADS GUILTY |
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November 19.2008
MIAMI HIV CLINIC ADMINISTRATOR AND TWO MIAMI RESIDENTS SENTENCED FOR THEIR ROLES IN A $14 MILLION MEDICARE FRAUD SCHEME |
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November 19.2008
From the Heart to Our Troops |
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November 19.2008
In Case You Missed It: 'Fighting the Financial Crisis, One Challenge at a Time' |
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November 19.2008
Testimony by Treasury Secretary Henry M. Paulson, Jr. before the House Committee on Financial Services |
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November 19.2008
Two Charged With Illegal Trading With Iran |
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November 19.2008
D.C. Court of Appeals Clears Way for $200 Million Restitution Order in Tax Fraud Conviction |
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TERMS / What is the difference between the petition date and the date of the 'order for relief' in a case?The general rule in bankruptcy cases filed voluntarily by a debtor under the Bankruptcy Code is that the filing of the bankruptcy petition with the bankruptcy court constitutes the "order for relief" in the case. Thus, in voluntary cases, the date the bankruptcy petition is filed (the "petition date") is also the date of the order for relief. In involuntary cases commenced by the filing of a petition by one or more of the debtor’s creditors (or a general partner of a partnership debtor), absent the consent of or subsequent voluntary filing by the debtor, an order for relief is only entered if the petition is not timely controverted by the debtor (or a general partner of a partnership debtor that did not join in the petition) or if, after trial, the bankruptcy court finds that grounds exist for sustaining the involuntary petition. Thus, the date of the order for relief in involuntary cases always occurs after the petition date. Notwithstanding the foregoing, the conversion of a case from a case proceeding under one chapter (i.e., chapter 11) to a case proceeding under another chapter (i.e., chapter 7), constitutes an order for relief under the new chapter and, under certain circumstances, the conversion order operates as if the conversion order is the order for relief in the case.
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