BAPCPA

Judge Riblet on the Absolute Priority Rule

The Absolute Priority Rule is an arcane part of the Bankruptcy Code (see 11 USC § 1129(b)(2)(B)(ii)). It basically says that in a Chapter 11 plan, lower classes of creditors cannot be paid anything unless higher classes have either been paid in full or consent to their treatment. As an example, I have a debtor […]

Posted in BAPCPA, Courts, Lawyering | Comments Off on Judge Riblet on the Absolute Priority Rule

Where can you file a bankruptcy case?

I had a client who lived in Europe – Luxembourg, of all places.  He went there because his business ventures in the US were going bad, so he took time away from this country.  His wife was a national of Luxembourg, so he moved his whole family to a house in the shadow of his […]

Posted in BAPCPA, Business, Corporations, Pre-Bankruptcy Planning, Procedure, Trustee | Comments Off on Where can you file a bankruptcy case?

The “recent” change to bankruptcy law

Congress spent a great deal of effort creating the Bankruptcy Abuse Prevention and Consumer Protection Act in 2005. If you have filed bankruptcy in the past, you probably did so before BAPCPA, and may be a bit surprised by the increase in fees most attorneys now charge, or the extraordinary amount of documentation required to […]

Posted in BAPCPA, Procedure, Taxes | Tagged , | Comments Off on The “recent” change to bankruptcy law