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> Federal Bankruptcy Law provides the procedural framework. Federal bankruptcy law sets the substantive as well as procedural rules for bankruptcy, and its sub
by dragonwriter 2y ago
> Federal Bankruptcy Law provides the procedural framework.
Federal bankruptcy law sets the substantive as well as procedural rules for bankruptcy, and its substantive provisions trump any state law, but, OTOH, state law has some role both in determining what the set of claims going in to bankruptcy are and, to the extent permitted in federal bankruptcy law, setting things like allowable personal exemptions, etc.
- a12k 2y agoYep! This is all correct. The point remains, however, that Delaware law does have a substantial amount to do with bankruptcy proceedings in Delaware, which is really the point I was responding to.
- ensignavenger 2y agoI may have been wrong to say "nothing" but from what I understand Delaware law has very little to do with it and I don't see how it would be relevant to this particular ruling, but I am always open to learning more as I find the topic of law quite interesting.