This is an extension of Chapter 11, designed to help debt-burdened family farms. It allows family farmers to operate under bankruptcy court protection while paying off creditors.
Bankruptcies filed under Chapter 12 of the Bankruptcy Code are the "family farmers" version of Chapter 13 filings.
Family Farmerâ€(tm)s Debt Adjustment. An individual or joint debtor family farmer, or a corporation/partnership family farmer seeking discharge of most debts. The debtor is permitted by law to keep certain property as exempt.
the chapter of the Bankruptcy Code providing for a court-approved debt payment relief plan for family farmers with regular income.
Chapter 12 for family farmers. It is very similar to Chapter 13.
A simplified reorganization plan for family farmers and fishermen, whose debts fall within certain limits.
The operating chapter of the bankruptcy code whereby certain agricultural enterprises may reorganize.
This chapter was developed for family farmers exclusively. This chapter seeks to reorganize and rehabilitate the financial structure of the debtor. Normally it allows a debtor to propose a plan to pay creditors.
a reorganization for a family farmer. Chapter 12 must be renewed by Congress each times it expires. Therefore, it is not always available.
Signed into law in November 1986, the Chapter 12 bankruptcy reorganization was created to accommodate the special needs of financially strapped family farmers.
The chapter of the Bankruptcy Code providing for adjustment of debts of a "family farmer," or a "family fisherman" as those terms are defined in the Bankruptcy Code.
A simplified reorganization plan for family farmers whose debts fall within certain limits. Chapter 12 was not renewed when it expired this session of Congress.
family farmer bankruptcies; created by Congress in 1986 (Chapter 12 became effective on November 26, 1986 and is now a permanent Chapter of the Bankruptcy Code); only a family owned farm business can qualify for Chapter 12 and it must have debt less than $1.5 million and have 50% of its income from farming operations.
The chapter of the Bankruptcy Code providing for adjustment of debts of a "family farmer," as that term is defined in the Code.
A financial reorganization of a family farming enterprise.
Chapter of the Bankruptcy Code designed to give special relief to a family farmer with regular income.
The chapter of the bankruptcy code under which family farmer with regular income.