New York Bankruptcy Proceedings Under 28 U.S.C., Section 157 (Proceedings to Set Aside Judgments Non-Core), Sept. 14, 1988, is a set of federal laws that allow debtors to challenge the validity of judgments they have received. This law allows debtors to file motions in bankruptcy court to set aside judgments obtained that are considered to be non-core matters. This includes judgments related to matters such as personal injury, fraud, and defamation. The proceedings also provide debtors with the opportunity to defend themselves against creditors’ claims in order to have their debts discharged. Generally, these proceedings will be heard before a bankruptcy judge who has the authority to determine the merits of the case and decide whether the judgment should be set aside or not. There are two types of proceedings under this law: those in which the judge rules on the merits of the case and those in which the judge reviews the legal sufficiency of the creditor's claims.
New York Bankruptcy Proceedings Under 28 U.S.C., Section 157 (Proceedings to Set Aside Judgments Non-Core), Sept. 14, 1988
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A procedure that permits matters that have been automatically referred to the bankruptcy court under a general order of reference (28 U.S.C. § 157(a)) to be returned to and heard by the district court.
A procedure that permits matters that have been automatically referred to the bankruptcy court under a general order of reference (28 U.S.C. § 157(a)) to be returned to and heard by the district court.
A core proceeding also includes any issue affecting the sale of a debtor's assets or the relationship between a debtor and creditor, except for a personal injury or wrongful death action.
A core proceeding also includes any issue affecting the sale of a debtor's assets or the relationship between a debtor and creditor, except for a personal injury or wrongful death action.
A bankruptcy proceeding is a legally authorized procedure that a bankruptcy case follows through the court system which consists of approving arrangements for the repayment of debts to relieve the debtor of their liability to creditors.
§ 157 prohibits devising or intending to devise a scheme or artifice to defraud and, for purposes of executing or concealing the scheme either (1) filing a bankruptcy petition; (2) filing a document in a bankruptcy proceeding; or (3) making a false statement, claim, or promise (a) in relationship to a bankruptcy
The bankruptcy judge has the power to hear and decide these matters and enter judgment on them. Some examples of core proceedings are: the bankruptcy trustee's duties, matters concerning debtor exemptions, or proceedings to determine, decide or recover fraudulent transfers.
Stated another way, core issues are matters arising under the Bankruptcy Code that relate directly to the bankruptcy. Non-core matters do not involve the bankruptcy itself but affect the outcome of the bankruptcy case. The statute gives bankruptcy courts authority to determine core proceedings.