Section 747 - Subordination of Certain Customer Claims


Title 11 of the United States Code - Bankruptcy
LIQUIDATION – CHAPTER 7


Subordination of Certain Customer Claims- Section 747
11 USCS § 747



Except as provided in section 510 of this title [11 USCS § 510], unless all other customer net equity claims have been paid in full, the trustee may not pay in full or pay in part, directly or indirectly, any net equity claim of a customer that was, on the date the transaction giving rise to such claim occurred--
   (1) an insider;
   (2) a beneficial owner of at least five percent of any class of equity securities of the debtor, other than--
      (A) nonconvertible stock having fixed preferential dividend and liquidation rights; or
      (B) interests of limited partners in a limited partnership;
   (3) a limited partner with a participation of at least five percent in the net assets or net profits of the debtor; or
   (4) an entity that, directly or indirectly, through agreement or otherwise, exercised or had the power to exercise control over the management or policies of the debtor.


Sagaria Law is proud to announce the internet publishing of the United States Bankruptcy Code to this site.  Title 11, as it is also known, has been provided here on our bankruptcy website for your convenience.  We encourage all of our bankruptcy clients and website visitors to take advantage of being able to view it here, as no other bankruptcy sites offer this opportunity.
Our bankruptcy law firm in San Mateo deals with all types of bankruptcy questions, filings and issues.  If at any time you would like to speak to our informed bankruptcy specialists or set up a consultation with one of our experienced bankruptcy attorneys in San Mateo, please contact us! We are here to serve you, San Mateo County!

Attorney Consultation!! $99 Retainer Fee!! Free Bankruptcy Evaluation
Motivation Bills Assets Budget
The law varies from state-to-state — please provide your zip code!

Why are you considering bankruptcy? (select all that apply)









Motivation Bills Assets Budget

What bills do you have? (select all that apply)








Motivation Bills Assets Budget
Do you own real estate ?
If Yes , are you behind in these payments?


Do you own an automobile ?
If Yes , are you behind in these payments?


Do you have any additional assets worth more than $1000.00?
Motivation Bills Assets Budget

What types of income do you have? (select all that apply)






$
Contact Info Your Evaluation

Call For A Consultation

toll free: 1-866-447-8460