The Federal Rule of Bankruptcy Procedure 7026
Chapter 11 of the United States Bankruptcy Code, which is utilized primarily by businesses in debt, allows entities to reorganize, rather than close, their businesses under federal bankruptcy laws. The Federal Rules of Bankruptcy Procedure are procedural rules that must be followed in all cases filed under Chapter 11. The rules were formulated so that bankruptcy proceedings could proceed quickly and inexpensively.
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Adversary Proceedings
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Federal Rule of Bankruptcy Procedure 7026 is located in Chapter VII of the Federal Rules of Bankruptcy Procedure. Chapter VII addresses all aspects of adversary proceedings.
An adversary proceeding in a bankruptcy case is a lawsuit filed by either the debtor or a creditor. For example, under Chapter 11, debtors are granted an automatic stay, which means that a creditor may not attempt to collect the debt once a business has filed for Chapter 11. If a creditor violates the automatic stay, the debtor could initiate an adversary proceeding against the creditor and ask the court for an injunction to halt collection efforts.
Federal Rule of Civil Procedure 26 Applies to Bankruptcy Adversary Proceedings
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Federal Rule of Bankruptcy Procedure 7026 provides that Federal Rule of Civil Procedure 26 applies to all Chapter 11 adversary proceedings.
Federal Rule of Civil Procedure 26 governs discovery. Discovery is the process through which attorneys prepare for lawsuits or adversary proceedings by discovering the facts surrounding a case through unrequested initial disclosures such as potential witnesses and evidence as well as expert testimony.
All of the procedures outlined in Federal Rule of Civil Procedure 26 must be followed in a Chapter 11 bankruptcy adversary proceeding. For example, Rule 26(a)(2) requires that a party to an adversary proceeding provide to the opposing party the name of any expert it plans to use as a witness at the proceeding.
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Citations
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When quoting or citing the federal rules of procedure in a legal pleading, brief or correspondence, the following citations should be used:
Federal Rule of Bankruptcy Procedure 7026 should be cited as "Fed. R. Bankr. P. 7026."
Federal Rule of Civil Procedure should be cited as "Fed. R. Civ. P. 26" or "F.R.C.P. 26" or "FRCP 26."
If a particular subsection of the rule applies, indicate such. Also, the year the rules were enacted does not need to be included so long as the citation is to the most recent version of the rules.
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References
Resources
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