After more than two years of study on what needs fixing, the ABI Reform Commission proposed hundreds of discrete recommendations on refurbishing the Bankruptcy Code. The 396 page report addresses a wide variety of topics, from modifying the rights of secured lenders in large corporate workouts to creating a viable restructuring path for small businesses. Yet … Continue Reading
The bankruptcy laws of the United States have a rich history, stemming in significant part from the railroad failures of the late 19th century, and the Great Depression of the 1930s. In 1970, Congress established a “Commission on the Bankruptcy Laws of the United States” to study and recommend changes to the Bankruptcy Act of … Continue Reading
