Title 11: Ch. 7, Sub. 1, Section 705
(a) At the meeting under section 341 (a) of this title, creditors that may vote for a trustee under section 702 (a) of this title may elect a committee of not fewer than three, and not more than eleven, creditors, each of whom holds an allowable unsecured claim of a kind entitled to distribution under section 726 (a)(2) of this title.
(b) A committee elected under subsection (a) of this section may consult with the trustee or the United States trustee in connection with the administration of the estate, make recommendations to the trustee or the United States trustee respecting the performance of the trustee’s duties, and submit to the court or the United States trustee any question affecting the administration of the estate.
Explanation: Creditors have meetings in a bankruptcy action where they can agree on certain things, including voting for which individual/entity will act as the trustee in the case.
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Title 11: Ch. 7, Sub. 1, Section 706
(a) The debtor may convert a case under this chapter to a case under chapter 11, 12, or 13 of this title at any time, if the case has not been converted under section 1112, 1208, or 1307 of this title. Any waiver of the right to convert a case under this subsection is unenforceable.
(b) On request of a party in interest and after notice and a hearing, the court may convert a case under this chapter to a case under chapter 11 of this title at any time.
(c) The court may not convert a case under this chapter to a case under chapter 12 or 13 of this title unless the debtor requests or consents to such conversion.
(d) Notwithstanding any other provision of this section, a case may not be converted to a case under another chapter of this title unless the debtor may be a debtor under such chapter.
Explanation: If you're a debtor, and you have a bankruptcy action, you have the ability to normally move your case to a different chapter. Anyone can actually request the court to transfer, but certain chapters (12 and 13) would require the debtor's consent. The biggest issue is that you can only convert (move) your case to another chapter if that chapter really applies to you.
Title 11: Ch. 7, Sub. 2, Section 721
The court may authorize the trustee to operate the business of the debtor for a limited period, if such operation is in the best interest of the estate and consistent with the orderly liquidation of the estate.
Explanation: If a business is part of your assets, or your business is part of the bankruptcy action, then the trustee can actually operate your business for a while. This is done by a determination that it is in the "best interest" of the estate. This is likely determined by the bankruptcy court or in law.
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Title 11: Ch. 7, Sub. 2, Section 722
An individual debtor may, whether or not the debtor has waived the right to redeem under this section, redeem tangible personal property intended primarily for personal, family, or household use, from a lien securing a dischargeable consumer debt, if such property is exempted under section 522 of this title or has been abandoned under section 554 of this title, by paying the holder of such lien the amount of the allowed secured claim of such holder that is secured by such lien in full at the time of redemption.
Explanation: This is a more complex issue, but all of Chapter 7 is important for any debtor. It appears to be that in a bankruptcy action you can get rid of a lien on personal/family property if it's part of certain code exemptions (522 or 554).
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