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Bankruptcy

Bankruptcy in the United States is governed by the U.S. Bankruptcy Code.Different types of bankruptcy filings are governed by specificsections of the Bankruptcy Code. The types of bankruptcies are: (i)reorganization under Chapter 11 for corporations and individuals,(ii) liquidation under Chapter 7 for corporations and individuals,(iii) Chapter 13 for individuals, and (iv) Chapter 9 for municipalities. Another type of bankruptcy proceeding in the United States are proceedings under Chapter 15 of the Bankruptcy Code, whichallows foreign companies, with assets located in the United States,to seek an injunction of all proceedings that would take their assets from them.

Bankruptcy can be considered a special proceeding, with the creation of aspecial set of courts and judges handling these cases. Corporations,municipalities and individuals who seek protection under the Code aregiven so-called "fresh start" by reorganizing their businesses and finances and ranking their creditors by order of priority. The goal of the Code is to allow a debtor to emerge from bankruptcy with a better business structure, or, in the case ofindividuals, a plan for a better management of finances. Bankruptcy is not adversarial in nature, although adversary proceedings may arise from issues relating to bankruptcy.

Lenders, who are often big banks and financial institutions, are firstpriority in the rank of creditors in bankruptcy proceedings. There are also numerous "small" creditors who need a strong voiceto represent them in bankruptcy proceedings. These small creditorsusually include workers who lost their jobs as a result of a debtor'sfinancial difficulty or who are on the verge of losing their jobswhen a debtor decides to halt their operations. The recent decline inoil prices resulted to the bankruptcy filings of numerous oil and gas companies, resulting to the retrenchment of hundreds of workers. Workers file claims for unpaid wages and benefits and retirees.Workers also seek compensation for damages arising from death orpersonal injury as a result of exposure to toxic minerals orchemicals used by bankrupt companies in the operation of their business. Moreover, small creditors include retirees, whose benefitsare often cut or terminated within the course of the bankruptcy proceeding as a cost-saving strategy for the ailing debtor. Retirees,old but have contributed significantly to the company, join the ranksof lenders to seek to have their benefits reinstated and continued.If not represented by a bankruptcy specialist, these small creditors may find their voices lost among the big corporate lenders.

Divorce,illness, student loan debt, and unpaid mortgages are some of thecommon reasons why individuals seek bankruptcy protection, either under Chapter 11 or Chapter 13. When the individual's bankruptcy proceeding is caused by divorce, the individual debtor needs expert representation by a bankruptcy attorney who is not just knowledgeableof the bankruptcy law but also of divorce law, child support andchild custody. In instances when an individual seeks bankruptcy proceeding as a result of staggering student loan debt or unpaid mortgage, the debtor's attorney also need to match the skills of attorneys representing the student loan provider or the mortgagee, which are often big companies equipped with a legal team ready to quash a creditor.

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Transportation Law - Legal Information and Resources
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Transportation

Transportation law governs the transportation system in the United States, including motor cycles, motor vehicles, trucks, railways, helicopters, and airplanes, and the infrastructure that supports the transportation system. Transportation law governs the mode of transportation and the transportation industry. It is an area of law that encompasses numerous other areas of law, such as trade law.

Transportation law is comprised of federal and state legislation. Transportation, however, is within the authority of the U.S. Congress by virtue of its mandate to regulate interstate and foreign commerce. The U.S. Department of Transportation is the primary federal agency that sets policies the American transportation system. Rules and regulation The Federal Aviation Administration governs the aviation industry. Policies from the FAA range from protecting flyers, cargo in air crafts, air traffic, airport and air carrier maintenance, pilots' and flight attendants' labor issues, and ticketing issues. The Federal Railroad Administration governs the railway industry. In the United States, railroads are used more for transporting goods, usually gas and oil, rather than people, and the FRA issues policies that focus on the safety of railroads to avoid fatal derailments. The National Transportation Safety Board also provides guidelines and investigates mass transit accidents. States pass their own rules and regulations regarding transportation that are in line with federal rules and regulations and create administrative agencies in concerted efforts with the federal government to ensure safety in the transportation system. The Occupational Safety and Health Administration governs longshoring and maritime industry safety and health standards. Other workers' law ensure that workers in the transportation industry are granted the same benefits.

Transportation law ranges from compliance to manufacturing standards, licensing and registration vehicles, and regulation of cargo in both land and air travel. The bulk of the work of transportation law attorneys lies in making sure companies are in compliance with regulations as non-compliance will result to penalties. With respect to companies providing transportation services, they are required that their vehicles adhere to standards imposed by the law and the vehicles are well maintained so that no untowardly accidents will happen while the vehicle is in transit. Accidents relating to the transportation of goods, especially when the commodity is hazardous or dangerous, is not uncommon. An accident involving a train carrying crude oil in July 2013 wiped out a portion of a town in Quebec, killed more than 40 people, resulted to numerous lawsuits, filed by the victims against possible responsible parties, and possible responsible parties against each other and against government agencies. The fatal train derailment pushed the railway company to bankruptcy. It is this kind of situations that companies aim to avoid, such that they retain transportation law attorneys to, foremost, ensure they are in compliance with the law, and defend them at the time when accidents happen.

Transportation by land and air is the most common mode of transportation in the United States. Making sure roads are safe and companies are in compliance with the law ensures that transportation will continue to contribute to the economic development of the country.

Areas of Law