The Professional
Bankruptcy Dictionary




means common carrier by railroad engaged in the transportation of individuals or property or owner of trackage facilities leased by such a common carrier;

Sec. 101. Definitions

reaffirmation agreement

A reaffirmation is an agreement between the debtor and the creditor (typically a secured creditor) that the debtor will pay all or a portion of the money balance owed on the installment agreement, even though the debtor has filed bankruptcy. In return, the creditor promises that, as long as payments are made, the creditor will not repossess or take back the automobile or other personal property constituting the collateral for the debt.

Public Information Series of the Bankruptcy Judges Division

reach-back period

The period immediately prior to filing the bankruptcy within which transfers of money or property may be deemed fraudulent or preferential; the period prior to filing bankruptcy within which one or more of the critical time periods may or may not have expired for purposes of discharging taxes in bankruptcy.


money owed to a person or entity; in business usage, money owed by a customer or client to a business entity for goods or services sold.


the doctrine allowing one party to reduce a judgment owed to another on account of an obligation owed to the first party arising out of the same transaction. [to be distinguished from setoff]

In re LaPierre, 180 B.R. 95 (Bkrtcy. S.C. 1994).


the act of a bankruptcy debtor retaining title and possession of an asset for which there is a balance owed, by paying off in a lump sum the present value of the property "as is" and discharging any unsecured balance, pursuant to Bankruptcy Code § 722.


A bankruptcy court is established in each federal judicial district. However, this bankruptcy court is not an independent court. Instead, it is a "unit" of the district court. Reference of bankruptcy cases and proceedings by the district court to the bankruptcy court is discretionary with the district court.

Nevertheless, all district courts have adopted a local rule automatically referring all bankruptcy cases and proceedings to the bankruptcy judges in the district.

Because the bankruptcy court is merely an adjunct of the district court, the district court may withdraw the reference of a bankruptcy case or a particular bankruptcy proceeding from the bankruptcy judge at any time.

Ginsberg And Martin On Bankruptcy [Aspen]


The original name for a bankruptcy judge under the Bankruptcy Act of 1898.

regular associate

means any attorney regularly employed by, associated with, or counsel to an individual or firm.

Rule 9001. General Definitions


Resolution of a debtor's financial problems through the bankruptcy process. Typically used in a Chapter 13 or Chapter 11 business context


In the bankruptcy context, may refer to the act of the debtor or the estate rejecting (repudiating) a lease or executory contract pursuant to 11 U.S.C. § 365, or may refer to a creditor's negative vote on the plan in a Chapter 11 case.


means individual related by affinity or consanguinity within the third degree as determined by the common law, or individual in a step or adoptive relationship within such third degree;

Sec. 101. Definitions

relief from stay

permission of the bankruptcy court to proceed against the debtor or the debtor's property during the period that the automatic or permanent stay is in effect.

Sec. 362(d)


The act of a court of appeal returning a case to the lower court (i.e., the bankruptcy court) for further adjudication of issues within the ruling or guidelines in the case set by the court of appeal.


the act of moving a piece of litigation from another court to the bankruptcy court, or the U.S. District Court.


a form of bankruptcy (chapter 9 or chapter 11) in which an entity's financial affairs are reorganized in order to provide relief from debt while continuing as a going-concern. Typically involves a rescheduling of debt payments and may include discharge of some debt.

Sec. 1101 et seq.

repo participant

means an entity that, on any day during the period beginning 90 days before the date of the filing of the petition, has an outstanding repurchase agreement with the debtor;

Sec. 101. Definitions

repurchase agreement

(which definition also applies to a reverse repurchase agreement) means an agreement, including related terms, which provides for the transfer of certificates of deposit, eligible bankers' acceptances, or securities that are direct obligations of, or that are fully guaranteed as to principal and interest by, the United States or any agency of the United States against the transfer of funds by the transferee of such certificates of deposit, eligible bankers' acceptances, or securities with a simultaneous agreement by such transferee to transfer to the transferor thereof certificates of deposit, eligible bankers' acceptances, or securities as described above, at a date certain not later than one year after such transfers or on demand, against the transfer of funds;

Sec. 101. Definitions


In Chapter 7 the debtor has the choices, provided by statute, to deal with a secured debt by 1) surrendering the property and discharging the debt; 2) keeping the property, paying in a lump sum only the present value of the collateral and discharging the unsecured balance (redemption); or 3) reaffirming the original contract, keeping the property and continue paying the regular payment.

In many jurisdictions the courts have allowed a fourth option - keep the collateral, no need to reaffirm, and keep paying the regular payment (ride-through).

Rooker-Feldman doctrine

A limitation on the jurisdiction of lower federal courts, based on the statute, 28 U.S.C. § 1257, that grants the Supreme Court of the United States jurisdiction to review decisions of the highest court of a state. Specifically, "[t]he Rooker-Feldman doctrine interprets 28 U.S.C. § 1257 as ordinarily barring direct review in the lower federal courts of a decision reached by the highest state court.

In re Benalcazar, ______ B.R. ______(N.D.Ill. 2002).

Under this principle, even though a California state court decision is on appeal and not final for the purposes of claim preclusion under California law, it is binding upon us and all federal courts (except the United States Supreme Court) and may not be reexamined by us except in very limited circumstances.

IN RE WILLIAMS, (9th Cir. 2002)