The current version of the Bankruptcy Code was enacted in 1978, but through the years has been subject to many amendments, the last one being the Bankruptcy Abuse Prevention and Consumer Protection Act in 2005. While the Bankruptcy Code was intended to provide a uniform set of federal laws to be applied in all jurisdictions of the United States, the Bankruptcy Code’s provisions are constantly being challenged by interested parties and interpreted by various federal courts from across the country. Not surprisingly, there is often a divergence of opinions from jurisdiction to jurisdiction as to what the legislature intended particular bankruptcy provisions to mean.
To lessen the confusion, this site will attempt to explain a variety of corporate bankruptcy concepts that often arise in business reorganizations and liquidations. To keep things interesting, the site will also bring to light some of the latest developments in business and municipal bankruptcies from around the country.
Since 1998, the editor has been representing corporate debtors, committees, lenders, trustees, officers, directors, landlords and other interested parties affected by bankruptcy reorganizations and has been actively involved in some of the largest bankruptcies in the United States.