Antitrust and Bankruptcy

Question 1

unlawful horizontal agreements

Answer 1

competitors make an agreement and unreasonably restrain trade

price fixing (two businesses coordinate)

Question 2

unlawful vertical agreements

Answer 2

agreements with buyers that unreasonably restraining trade

tying agreements

you must buy product B to buy and use A

Question 3

unlawful monopolization

Answer 3

abuse of dominant position

Question 4

price descrimination

Answer 4

different valued buyers get different prices

Question 5

amnesty

Answer 5

offered by the government if a company surrenders and helps bust cartel

Question 6

dawn raids

Answer 6

government strategy when planning to go “overt”

Question 7

Avoiding antitrust cases

Signs to lookout for and avoid

3 main signs

Answer 7

1. opportunity to collide
2. signaling
3. actions against independent interest

Question 8

objectives of bankruptcy

two objectives

Answer 8

protect debtor and equitable treatment to creditors

Question 9

liquidation bankruptcy

chapter 7

Answer 9

assets turned over to trustee

Question 10

What debts are not discharged under chapter 7

Hint: divorce

Answer 10

alimony and child support

Question 11

involuntary bankruptcy

Answer 11

creditors force a debtor into bankruptcy

Question 12

after petition is filed

Answer 12

order of relief

issued by court

Question 13

how often are federal exemptions adjusted

Answer 13

3 years

Question 14

reorganization

chapter 11

Answer 14

debtor can pay portion and remain conducting business

creditors’ committee

Question 15

chapter 11 opportunity window

Answer 15

120 days after order of relief

Question 16

adjustments

chapter 13

Answer 16

Debtors with regular income can have their debts adjusted by filing a voluntary petition for Chapter 13 debt relief