Bankruptcy Reform Act of 1978

(redirected from Bankruptcy Reform Act)

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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Warren need not look far for a fresh example of why the Bankruptcy Reform Act of 201, which she has co-sponsored with Texas Republican Sen.
The Bankruptcy Reform Act of 197851 was the first major federal bankruptcy act not to stem from a major economic panic in the nation, (52) and was the product of nearly a decade of intensive study by the congressionally formed Commission on the Bankruptcy Laws of the United States, bipartisan negotiations, and several draft bills.
27) King, supra note 13, at 1158; Patchan & Collins, supra note 11, at 289, 291; The Bankruptcy Reform Act.
49) Despite continuing debate in Congress of whether educational debt should be treated differently than other debt, (50) the undue hardship standard (when discharging federal student loans five years or less after repayment begins) (51) was retained in the 1978 Bankruptcy Reform Act.
Iraq war, NAFTA, Bankruptcy Reform Act of 2000, immigration, gun control, the Keystone XL pipeline, the Trans-Pacific Partnership, same-sex marriage).
The enactment of the Bankruptcy Reform Act of 1978 (which provided that a plan of reorganization could provide for "sale of all or any part of the property of the estate") and a succession of cases that almost immediately followed such enactment opened the door to such bankruptcy sales.
The Code as we know it was created in its entirety by the Bankruptcy Reform Act of 1978, which was signed into law by President Jimmy Carter.
Credit card defaults registered the second largest monthly decline since the passage of the Bankruptcy Reform Act in 2005 and are now back in line with historical averages.
The delay afforded me the opportunity to get his perspective on the newly enacted Bankruptcy Reform Act of 1978 (the "Bankruptcy Code").
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.
Chapter 11 under the 1978 Bankruptcy Reform Act was intended to eliminate the numerous litigations over the appropriateness of the firm's choice of Chapter X or XI bankruptcy filing under the Chandler Act.
Furthermore, under the Bankruptcy Reform Act of 2005, anyone who files for bankruptcy must first visit one of these agencies.