Client Alert
The Business Side of the New Bankruptcy Act
April 25, 2005
Published in the April 27, 2005 issue of the Southeast Tech Wire
Abstract
The Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (“BAPCPA”) was signed into law by President Bush on April 20, 2005. Due to extensive media coverage and political debate, it is generally known that BAPCPA substantially changes consumer bankruptcy law. However, the 500-page plus legislation also makes important changes to business bankruptcy law of which our clients should be aware.
This Client Alert, prepared by Womble Carlyle’s Bankruptcy and Creditors’ Rights Practice Group, summarizes the key business bankruptcy law changes by BAPCPA and offers advice on how some of the changes are likely to affect our clients. (Not covered are various provisions of BAPCPA dealing with municipal cases, tax issues, bankruptcy statistics and data, ancillary and cross-border insolvency cases, financial contract provisions, family farmer and fishermen cases, consumer cases, and consumer credit disclosure.)
Click here to read this Client Alert in PDF format.
If you have any questions or would like assistance regarding the matters discussed in this Client Alert, please contact Bill Sullivan at 336-721-3506 or via email; or your regular Womble Carlyle contact.
