Bankruptcy Reform Act of 1978


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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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The 1898 Act was amended at various times in the twentieth century and then replaced by the Bankruptcy Reform Act of 1978, which introduced the Bankruptcy Code.
The delay afforded me the opportunity to get his perspective on the newly enacted Bankruptcy Reform Act of 1978 (the "Bankruptcy Code").
May 8 /PRNewswire/ -- The Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (BAPCPA) was designed to address arguments that the Bankruptcy Reform Act of 1978 was abused by consumers and riddled with loopholes -- costing the credit industry millions of dollars in unnecessary credit losses.
The next significant piece of bankruptcy legislation was the Bankruptcy Reform Act of 1978.
The court also pointed out that property exempt from creditors' claims was excluded in determining insolvency under the Bankruptcy Reform Act of 1978.
22) A minority of courts rejected the Tinker standard, reasoning that it was overruled by the Bankruptcy Reform Act of 1978.
212) It had no official title, but has come to be known as the Bankruptcy Reform Act of 1978 or the "B.
The Bankruptcy Reform Act of 1978, which is currently`effective, gives a company in reorganization a better break than previous U.
The change in the availability of Chapter 13 provided by the Bankruptcy Reform Act of 1978 had a noticeable positive influence on the average probability that a petitioner would choose that route to debt relief.
The Settlement Agreement also requires Eagle to file a voluntary petition under Chapter 11 of the Bankruptcy Reform Act of 1978, as amended, during the third quarter of 1999.
5043, Subcommittee of Select Revenue Measures, House Ways and Means Committee (2/20/80) (in conformity with the bankruptcy Reform Act of 1978, tax attribute reduction is extended in H.
The Bankruptcy Reform Act of 1978 made substantial changes to the BC.