B.R. (Bankruptcy Rules)

The Bankruptcy Rules (B.R.) are detailed guidelines that govern the process of submitting and managing bankruptcy cases in court. They outline procedures for filing, government notifications, creditor interactions, asset management, and court hearings. These rules ensure the bankruptcy process is fair, transparent, and efficient, protecting the rights of debtors and creditors alike. Essentially, B.R. standardizes how bankruptcy cases are handled to facilitate an organized resolution of financial distress, enabling individuals or businesses to either reorganize their debts or obtain relief from unmanageable liabilities.