This form is an order for relief in an involuntary bankruptcy case. The form must be signed by the presiding bankruptcy judge.
Puerto Rico Order for Relief in an Involuntary Case - B 253
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How to fill out Order For Relief In An Involuntary Case - B 253?
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An order for relief will be entered if the debtor does not contest the involuntary petition or, if the debtor contests the involuntary petition, an order for relief will be entered if (1) the court determines that the debtor is not paying its undisputed debts as they come due, or (2) a custodian (other than a trustee, ...
The determination that a person or entity is a debtor under the Bankruptcy Code. In a voluntary bankruptcy case, the filing of the bankruptcy petition constitutes an order for relief (§ 301(b), Bankruptcy Code).
An Involuntary Petition may be commenced only under chapters 7 or 11 of Title 11, and only against a person, except a farmer, family farmer, or a corporation that is not a moneyed, business, or commercial corporation, that may be a debtor under the chapter under which such case is commenced.
"Order for relief" is to a court order determining that a debtor is subject to the control of the bankruptcy court. It means a debtor obtain a discharge from all debts that arose before the date of the order for relief. It is obtained through a properly filed voluntary petition.
An order for relief invokes the automatic stay and brings down an iron curtain, separating the pre-bankruptcy from the post-bankruptcy debtor, creating a bankruptcy estate and prohibiting unauthorized transfers of the debtor's property.