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Bankruptcy Reform Act of 1978
(redirected from Bankruptcy Reform Act)

   Also found in: Wikipedia 0.01 sec.
Bankruptcy Reform Act of 1978
A major overhaul of previous bankruptcy law in the United States. The Act forms the basis for how bankruptcies have been conducted ever since. The Act provides for three main types of bankruptcy. Chapter 7 provides for liquidation of a business and discharge of debts. Chapter 11 allows corporations to continue operations after reorganization. Chapter 13 restructures debt but does not forgive it. See also: Bankruptcy Abuse Prevention and Consumer Protection Act, Bankruptcy and Insolvency Act.


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GAO was asked to examine the (1) availability and accessibility of data from the personal bankruptcy system and (2) potential benefits and limitations of the new data requirements of the Bankruptcy Reform Act in addressing these issues.
More than 50 attorneys attended this seminar designed to recruit and train pro bono attorneys on the New Bankruptcy Reform Act.
Editorial covers all types of bankruptcy cases, conversion and dismissal, role of the trustee, debtor's estate and appeals, and the Bankruptcy Reform Act of 1994.
 
 
 
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