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- Face sheet filing
- A bankruptcy case filed either without schedules or with incomplete schedules listing few creditors and debts. (Face sheet filings are often made for the purpose of delaying an eviction or foreclosure.)
- Fair and Equitable Standard
- a Chapter 11 plan can only be confirmed by the cramdown method if classes of claims and interests are treated in a fair and equitable manner. This requires not only fair treatment in the usual sense, but also that the specific requirements of §1129(b) (such as the absolute priority rule) are satisfied.
- Fair Market Value
- Is the price that a non-compelled buyer would pay for goods or services offered by a willing but non-compelled seller.
- Family Farmer
- a debtor meeting the filing qualifications for a Chapter 12 proceeding. A family farmer may be an individual, corporate, or partnership debtor. In the latter two instances, more than 50 percent of the owner- ship must belong to members of the same family. A qualified family farmer's total debt may not exceed $1,500,000. Section 101(17) of the Bankruptcy Code defines family farmer.
- Feasibility Requirement
- finding that the Bankruptcy Court must make to permit confirmation of a Chapter 11 reorganization plan.
- Feasibility Standard
- the requirement for plan confirmation that the debtor has demonstrated a reasonable prospect of being able to make the payments and meet the rehabilitative goals set out in the plan.
- Federal Exemptions
- exemptions permitted under federal law, specifically, Section 522(d) of the Bankruptcy Code.
- Federal Judges
- judges appointed to the federal bench pursuant to U.S. Const., art. III, §2.
- Federal public defender
- An attorney employed by the federal courts on a full-time basis to provide legal defense to defendants who are unable to afford counsel. The judiciary administers the federal defender program pursuant to the Criminal Justice Act.
- Federal Public Defender Organization
- As provided for in the Criminal Justice Act, an organization established within a federal judicial circuit to represent criminal defendants who cannot afford an adequate defense. Each organization is supervised by a federal public defender appointed by the court of appeals for the circuit.
- Federal question jurisdiction
- Jurisdiction given to federal courts in cases involving the interpretation and application of the U.S. Constitution, acts of Congress, and treaties.
- Federal Rules of Bankruptcy Procedure
- national rules promulgated to govern practice in all bankruptcy proceedings.
- Felony
- A serious crime, usually punishable by at least one year in prison.
- Fiduciary
- One who is entrusted with duties on behalf of another. The law requires the highest level of good faith, loyalty and diligence of a fiduciary, higher than the common duty of care. The debtor in possession in a Chapter 11 is a fiduciary for the creditors, owing loyalty to the creditors and not the shareholders of the debtor.
- Fieri facias
- originally, a common law writ commanding the sheriff to seize chattels of the debtor to satisfy a judgment. The term is still used in some jurisdictions as the name for the writ of execution. (Abbreviated as "fi fa".) See elegit
- File
- To place a paper in the official custody of the clerk of court to enter into the files or records of a case.
- Financing Statement
- the document filed in public records to perfect a security interest under UCC Article 9.
- First-in-time Rule
- the general rule of priority under which an earlier perfected lien or interest in property takes precedence over a later one.
- Floating Lien
- a line of credit from a bank, financial institution, or other lender secured by the existing and after-acquired inventory, equipment, and proceeds of a debtor's business.
- Foreclosure
- The legal process by which a borrower in default is deprived of his or her interest in property. This usually involves a forced sale of the property at public auction with the proceeds of the sale being applied to the debt.
- Foreign Judgment
- as used in the Uniform Enforcement of Foreign Judgments Act, "foreign" means judgments of the courts of other states and federal courts, not judgments of the courts of foreign nations.
- Fraudulent Transfer
- a transfer made by a debtor with an intent to hinder, delay, or defraud creditors. A transfer without reasonable or fair consideration made while a debtor is insolvent or that renders a debtor insolvent will also be fraudulent. Fraudulent transfers are the subject of Bank- ruptcy Code Section 548. Fraudulent transfers are one of the trustee's avoiding powers.
- Fresh Cash Rule
- portion of a debt incurred by use of a false written financial statement.
- Fresh Start
- the phrase most frequently used colloquially to describe the basic elements of debtor relief: discharge, exemptions, and the automatic stay.
- Future Advance
- a loan or credit advanced to the debtor after a security interest has been created, and secured by such preexisting security interest.
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