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The '''Bankruptcy Code''' is an informal name for Title 11 of the [[United States]] Code (11 U.S.C. §§ 101-1330), which serves as the federal bankruptcy law.
The '''Bankruptcy Code''' is an informal name for Title 11 of the [[United States]] Code (11 U.S.C. §§ 101-1330), which serves as the federal bankruptcy law. Currently there are several types of bankruptcies which are referred to by their respective chapters. All bankruptcies are filed in a federal court called the US Bankruptcy Court, which will supervise such cases to termination.
== History ==
== History ==
The first [[federal]] bankruptcy law was repealed by [[Congress]] just three years later.<ref>2 Stat. 248.</ref> A decade later, the [[U.S. Supreme Court]] confirmed that the Bankruptcy Clause does not vest exclusive power in Congress, but instead leaves an important role for the States.<ref>See Sturges v. Crowninshield, 17 U.S. 122, 4 Wheat. 122, 4 L. Ed. 529 (1819).</ref> It was not until 1841 that Congress enacted another bankruptcy law, ch. 9, 5 Stat. 440, and then repealed it less than two years later, ch. 82, id., at 614. The [[Civil War]] and the debts it caused led Congress to pass another bankruptcy law in 1867, ch. 176, 14 Stat. 517, but that was likewise repealed after just over a decade, ch. 160, 20 Stat. 99.
The first [[federal]] bankruptcy law was repealed by [[Congress]] just three years later.<ref>2 Stat. 248.</ref> A decade later, the [[U.S. Supreme Court]] confirmed that the Bankruptcy Clause does not vest exclusive power in Congress, but instead leaves an important role for the States.<ref>See Sturges v. Crowninshield, 17 U.S. 122, 4 Wheat. 122, 4 L. Ed. 529 (1819).</ref> It was not until 1841 that Congress enacted another bankruptcy law, ch. 9, 5 Stat. 440, and then repealed it less than two years later, ch. 82, id., at 614. The [[Civil War]] and the debts it caused led Congress to pass another bankruptcy law in 1867, ch. 176, 14 Stat. 517, but that was likewise repealed after just over a decade, ch. 160, 20 Stat. 99.
== Types of bankruptcies==
== References ==
== References ==
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