Examlex
Which of the following citations denotes a regular decision of the Tax Court?
Involuntary Bankruptcy
A legal process initiated by creditors requesting the court to declare a debtor bankrupt, forcing the debtor to liquidate assets to pay off debts.
Chapter 7
A provision of the Bankruptcy Code providing for "liquidation," which involves the sale of a debtor's non-exempt property and the distribution of the proceeds to creditors.
Permanent Trustee
A trustee appointed to manage and administer a trust indefinitely until the trust’s objectives are fulfilled or the trust is legally dissolved.
Chapter 7
A provision under the U.S. Bankruptcy Code allowing for liquidation of a debtor's assets to pay off creditors.
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