| Legislative Update (Articles from the ABI Journal) |
LEGISLATIVE UPDATE: (citation: Legislative Update, XXVIII ABI Journal 9, 10, 66-67, November 2009) November 02, 2009
| LEGISLATIVE UPDATE: (citation: Prof. Adam J. Levitin, The Consumer Financial Protection Agency, XXVIII ABI Journal 8, 10, 66-68, October 2009) October 01, 2009
| LEGISLATIVE UPDATE: (citation: Legislative Update, XXVIII ABI Journal 7, 10, 68-71, September 2009) September 01, 2009
| LEGISLATIVE UPDATE: (citation: Legislative Update, XXVIII ABI Journal 6, 10, 72-73, July/August 2009) July 30, 2009
| LEGISLATIVE UPDATE: (citation: ABI, U.S. Senate Rejects Mortgage Modification in Chapter 13 Cases, Sens. Durbin, Kyl Debate the Response to America's Foreclosure Crisis, XXVIII ABI Journal 5, 10, 69, June 2009) June 01, 2009
| LEGISLATIVE UPDATE: (citation: Legislative Update, XXVIII ABI Journal 4, 10, 62-63, May 2009) May 04, 2009
| LEGISLATIVE UPDATE: (citation: Legislative Update, XXVIII ABI Journal 3, 10, 89-92, April 2009) April 04, 2009
| LEGISLATIVE UPDATE: (citation: Todd J. Zywicki and Adam Levitin, Legislative Update, XXVIII ABI Journal 2, 10, 76-77, March 2009) March 04, 2009
| LEGISLATIVE UPDATE: (citation: Legislative Update, XXVIII ABI Journal 1, 10, 58-59, February 2009) February 09, 2009
| LEGISLATIVE UPDATE: (citation: Legislative Update, XXVII ABI Journal 10, 10, 62-64, December/January 2009) December 05, 2008
| LEGISLATIVE UPDATE: (citation: Legislative Update, XXVII ABI Journal 9, 10, November 2008) November 03, 2008
| LEGISLATIVE UPDATE: (citation: Legislative Update, XXVII ABI Journal 8, 10, 77 October 2008) October 01, 2008
| LEGISLATIVE UPDATE: (citation: Babette Ceccotti and Michael L. Bernstein, Protecting Employees and Retirees in Business Bankruptcies Act of 2007, XXVII ABI Journal 6, 10, 58-62 July/August 2008) August 01, 2008
| LEGISLATIVE UPDATE: (citation: Debra Miller, Katherine Porter and Clifford White, Is Misconduct in Bankruptcy Fueling the Foreclosure Crisis?, XXVII ABI Journal 5, 10, 41-43 June 2008) June 05, 2008
Description: Three ABI members testify before the U.S. Senate Judiciary Committee. | LEGISLATIVE UPDATE: (citation: Sen. Durbin Makes the Case for Judicial Mortgage Modification in Chapter 13, XXVII 3, 10, 42 April 2008) April 20, 2008
| LEGISLATIVE UPDATE: (citation: ABI Journal, Vol. XXVI, No. 1, p. 10, Feb. 2008) February 15, 2008
| LEGISLATIVE UPDATE: ABI Directors Testify Before Congress: (citation: ABI Journal, Vol. XXVI, No. 9, p. 10, November 2007) November 01, 2007
| LEGISLATIVE UPDATE: Hearing on "American Workers in Crisis:" House Judiciary Committee Testimony: (citation: ABI Journal, Vol. XXVI, No. 8, p. 10, October 2007) October 30, 2007
| LEGISLATIVE UPDATE: Paying Trustees Post-BAPCPA: Small Change, Big Impact: (citation: ABI Journal, Vol. XXVI, No. 7, p. 10, September 2007) September 01, 2007
| LEGISLATIVE UPDATE: Interlocutory Direct Appeals under BAPCPA: Questionable Role of Bankruptcy Court: (citation: ABI Journal, Vol. XXVI, No. 6, p. 10,71, July/August 2007) August 01, 2007
| LEGISLATIVE UPDATE: Means Testing and the Vehicle Ownership/Lease Expense Deduction: Allowance or Actual Expense? (citation: ABI Journal, Vol. XXVI, No. 5, p. 10, June 2007) June 01, 2007
| LEGISLATIVE UPDATE: The Committee's Duty to Share, Post-BAPCPA (citation: ABI Journal, Vol. XXVI, No. 4, p. 12, May 2007) May 01, 2007
| LEGISLATIVE UPDATE: A Year Older, A Year Wiser: The Evolution of BAPCPA and Florida's Homestead Exemption (citation: ABI Journal, Vol. XXVI, No. 2, p. 10, March 2007) March 01, 2007
| LEGISLATIVE UPDATE - The Exemption Opt-Out: Does It Violate the Constitutional Requirement of Uniformity? (citation: ABI Journal, Vol. XXVI, No. 1, p. 10, Feb. 2007) February 01, 2007
| LEGISLATIVE UPDATE: BAPCPA: It's No Gettysburg Address (citation: ABI Journal, Vol. XXV, No. 10, p. 10, Dec/Jan 2007) January 01, 2007
Description: The Bankruptcy Abuse Prevention and Consumer Protection Act created two new provisionsó11 U.S.C. ßß362(h) and 521(a)(6)óthat automatically terminate the stay imposed by ß362(a) and remove property from the bankruptcy estate. The language used in ß362(h), however, appears to be much broader than the language used in ß521(a)(6), and the timelines used in ß362(h) are much more restrictive. Thus, the question arises of when, if ever, will ß521(a)(6) apply to a case: Is the entire section meaningless surplusage? | LEGISLATIVE UPDATE: Bankruptcy-Related Provisions of the Pension Protection Act of 2006 (citation: ABI Journal, Vol. XXV, No. 9, p. 10, November 2006) November 01, 2006
Description: The Pension Protection Act of 20061 (PPA) began as an Administration pension reform proposal in January 2005 that included a number of proposed bankruptcy-related changes, including a proposal to allow the Pension Benefit Guaranty Corp. (PBGC) to perfect its lien for missed contributions while a plan sponsor was in bankruptcy. While the proposal to create a PBGC exception to the automatic stay never received serious consideration during the legislative drafting, PPA does contain a number of provisions that impact both employers in bankruptcy and their employees. Some of these are explicitly tied to bankruptcy, while others apply generally but will have significant impact on troubled companies that sponsor defined benefit plans. PPA also added new requirements for tax-exempt credit counseling organizations, which are outside the scope of this article (see PPA ß1220). | LEGISLATIVE UPDATE: Individual Chapter 11 Cases after BAPCPA: Can You Still Close the Case Early? (citation: ABI Journal, Vol. XXV, No. 6, p. 10, July/August 2006) August 01, 2006
Description: Practitioners, judges and scholars have debated the ins and outs of BAPCPA in countless seminars and scholarly efforts. One area that courts will inevitably address pertains to the changes associated with individual chapter 11 cases. | LEGISLATIVE UPDATE: Discharge of Unfiled Taxes under BAPCPA: No More "Super" Discharge? (citation: ABI Journal, Vol. XXV, No. 5, p. 10, June 2006) June 01, 2006
Description: Discharge of Unfiled Taxes under BAPCPA: No More "Super" Discharge?
The basic concept of a chapter 13 bankruptcy filing historically was to allow individual debtors to reorganize their finances. The policy of giving the debtor a chance to have a fresh start was foremost behind Congress' intent to provide the debtor with a broad discharge of his/her debts incurred through false representation, fraud or recent consumer debt.1 The term of art used in dealing with a discharge of this type of liabilities was called a "super" discharge. | LEGISLATIVE UPDATE: 30-Day Lifting of the Automatic Stay under §362(c)(3)(A): Not What It Purports to Be (citation: ABI Journal, Vol. XXV, No. 3, p. 10, April 2006) April 01, 2006
Description: The Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA) has been touted as a mechanism to prevent abusive bankruptcy filings by individual debtors. One of the specific "abuses" that Congress sought to limit was the practice of repeat filing through revised §362(c)(3)(A). At first blush, §362(c)(3)(A) purports to lift the automatic stay as to secured or leased property within 30 days after the filing of a bankruptcy petition if the debtor was dismissed from a previous bankruptcy case within one year of the filing of the existing case. Of course, when it comes to the lexical prestidigitation of statutory construction, few things are ever what they first appear to be. BAPCPA has barely been in effect for four months, and two recent bankruptcy opinions have already ripped the teeth out of the 30-day stay-lifting provision of §362(c)(3)(A). | LEGISLATIVE UPDATE: Second Thoughts on "Home Court Advantage" for Small-Dollar Preference Defendants (citation: ABI Journal, Vol. XXV, No. 2, p. 10, March 2006) March 01, 2006
Description: The Bankruptcy Abuse Prevention and Creditor Protection Act (BAPCPA) amended 28 U.S.C. §1409, which relates to venue of certain bankruptcy proceedings. As amended, §1409(b) now states, in relevant part: [A] trustee in a case under Title 11 may commence a proceeding arising in or related to such case to recover a money judgment of or property worth less than $1,000 or a consumer debt of less than $15,000, or a debt (excluding a consumer debt) against a noninsider of less than $10,000, only in the district court for the district in which the defendant resides. | LEGISLATIVE UPDATE: Designation Rights—A New, Post-BAPCPA World (citation: ABI Journal, Vol. XXV, No. 1, p. 10, February 2006) February 01, 2006
Description: Though this question may have been debatable several years ago,1 a debtor’s ability to sell to a third party the estate’s right to market, assume and assign an unexpired lease of nonresidential real property—what has come to be called “designation rights”—is now a permanent fixture in large chapter 11 cases of retailers and other multi-location debtors. With the passage of the Bankruptcy Abuse Prevention and Consumer Protection Action of 2005 (BAPCPA), however, there are new timing and substantive limitations on a debtor’s ability to assume and assign a nonresidential real property lease. This article addresses these new “rules of engagement” for disputes between multi-location/big box retail debtors and landlords. | LEGISLATIVE UPDATE: Homestead Exemption No Longer "Debtors' Paradise" (citation: ABI Journal, Vol. XXIV, No. 10, p. 6, December/January 2006) December 01, 2005
Description: One of the most talked-about provisions of the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (BAPCPA) is its limitation on the homestead exemption. Specifically, newly created 11 U.S.C. §522(p) provides generally that a debtor's claim of homestead is limited to $125,000 in value if the homestead was acquired within 1,215 days pre-petition. | LEGISLATIVE UPDATE: Constitutionality of the Means Test: Does It Lack Uniformity? (citation: ABI Journal, Vol. XXIV, No. 9, p. 6, November 2005) November 01, 2005
Description: Article I, §8 of the U.S. Constitution grants Congress the power to establish "uniform laws on the subject of bankruptcies throughout the United States." Does the so-called "means test" contained in §707(b) as enacted by BAPCPA violate the Bankruptcy Clause of the Constitution? | LEGISLATIVE UPDATE: Did BAPCPA Eliminate the "Fourth Option" for Individual Debtors' Secured Personal Property? (citation: ABI Journal, Vol. XXIV, No. 8, p. 6, October 2005) October 01, 2005
Description: Courts have long struggled with the issue of whether the Code permits a "ride-through" for a chapter 7 debtor's secured personal property. | LEGISLATIVE UPDATE: Finding a Loophole in the Means Test without Collusion: Will Chapter 7 Involuntaries Be on the Rise? (citation: ABI Journal, Vol. XXIV, No. 7, p. 6, September 2005) September 01, 2005
Description: Although the mathematical formula used to perform the means test is outside the scope of discussion here, it is clear that it will be more difficult for a chapter 7 debtor to avoid either conversion to chapter 11 or 13 or an outright dismissal. | LEGISLATIVE UPDATE: Bankruptcy Reform and Nonmonetary Defaults—What Have They Done Now? (citation: ABI Journal, Vol. XXIV, No. 6, p. 6, July/August 2005) August 01, 2005
Description: Bankruptcy specialists know that debtors must cure contractual defaults before assuming any executory contract or lease. But changes made in the Bankruptcy Reform Act of 1994 left practitioners unsure about whether debtors' obligations to cure non-monetary defaults had been eliminated. | LEGISLATIVE UPDATE: Reforms Benefiting Business Creditors Generally June 01, 2005
Description: The Update continues its multi-part coverage of the new bankruptcy law (Pub. L. 109-8). This month's Update reprints an overview from Schiff Hardin LLP on some key issues affecting general unsecured trade creditors and landlords. | LEGISLATIVE UPDATE: S. 256: Summary of Changes Affecting Individual Bankruptcy Cases May 01, 2005
Description: This month's Update contains excerpts from a synopsis of S. 256, prepared by Thomas J. Yerbich, vice chair of ABI's Consumer Bankruptcy Committee. | LEGISLATIVE UPDATE: Hatch: On Assuming or Rejecting Leases under the New Law April 01, 2005
Description: The primary focus on S. 256 has been on consumer bankruptcy provisions in general and on the means test in particular. But there are a number of business bankruptcy changes in the 500-page bill. | LEGISLATIVE UPDATE: S. 314 - Fairness in Bankruptcy Litigation Act of 2005: Restricting Venue Choices for Corporate Debtors March 01, 2005
Description: As Attorney General of Texas, John Cornyn argued that the Enron bankruptcy should have been filed in or moved to Houston, where the company is located. | LEGISLATIVE UPDATE: Grassley Plans Pension Reform February 01, 2005
Description: Distress terminations of pension plans are now a common feature of large chapter 11 cases. | LEGISLATIVE UPDATE: Bankruptcy Reform Bill November 01, 2004
Description: While there are a number of bankruptcy-related bills floating around on Capitol Hill, most activity appears to be stalled. | LEGISLATIVE UPDATE: Testimony: Court Competition for Large Ch. 11 Cases September 01, 2004
Description: This month's Update contains excerpts from the testimony of Prof. Lynn LoPucki (UCLA Law School) before the House Judiciary Committee on July 21, 2004. Prof. LoPucki testified about his research on the effect of so many large public companies' decisions to file for bankruptcy in either the District of Delaware or the Southern District of New York. Prof. LoPucki's research and controversial findings are in part funded by a grant from the ABI Endowment Fund. | LEGISLATIVE UPDATE: Sen. Kerry on Bankruptcy Reform August 01, 2004
Description: The following are excerpts from Senate floor statements made by Sen. John F. Kerry (D-Mass.) on the Bankruptcy Reform Act of 2001 (S. 420 in the 107th Congress), the predecessor bill to H.R. 975 in the current Congress. | LEGISLATIVE UPDATE May 01, 2004
Description: This month's Update contains excerpts from an April 7 hearing of the Senate Judiciary Committee on various proposals to split the Ninth Circuit. | LEGISLATIVE UPDATE April 01, 2004
Description: This month's Update features excerpts from the debate at ABI's "25th Anniversary Symposium on the Bankruptcy Code," held last October in Washington, D.C. Debating the resolution, "The 1978 Code Has Been a Success for Business Bankruptcy," are Prof. Ralph Brubaker (pro) and Prof. Ken Klee (con). | LEGISLATIVE UPDATE March 01, 2004
Description: This month's update features excerpts from the House debate on passage of the bankruptcy bill (S. 1920) on Jan. 28, 2004. The House attached the text of H.R. 975, as previously passed, to the six-month extension of chapter 12, and appointed conferees for a conference with the Senate on bankruptcy reform. | LEGISLATIVE UPDATE: Should the "Plain Meaning" Always Prevail? Supreme Court Hears Oral Argument of "Debtor's Attorney" in Section 330(a)(1) February 01, 2004
| LEGISLATIVE UPDATE: Poking Holes in GOlden Parachutes: Management Pensions at Risk in Bankruptcy December 01, 2003
| LEGISLATIVE UPDATE: Retirement Savings and Bankruptcy: Recent Developments November 01, 2003
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