Legislation Committee

In 2005, Congress enacted sweeping changes in the Bankruptcy Code in a law commonly known as BAPCPA (bap-SEE-puh).  Most insolvency professionals recognize BAPCPA’s changes to consumer bankruptcy, such as the means test, modifications to the discharge exceptions and new limits on homestead exemptions.  But BAPCPA affected business bankruptcy too, making chapter 12 permanent and creating the notion of a “small business case” in chapter 11. As BAPCPA turns 20, this panel reflects on its past two decades: what worked, what didn’t, and what might come next.

Using the current proposed amendments to Bankruptcy Rule 9031 as an example, this panel will provide an overview on how to add, delete or revise the Bankruptcy Rules from concept to a successful enacted rule change.

The increased debt limit applicable to subchapter V cases expired in June 2024. This webinar, hosted by ABI's Business Reorganization and Legislation Committees, will examine the effects of the increased debt limit's expiration, where small business debtors and their attorneys can go from here, best practices and potential workarounds, prospects for further congressional action and more.

This panel will explore the various roles of neutrals in bankruptcy, including applicable provisions of the Bankruptcy Code and Rules, as well as the limitations on the use of neutrals in bankruptcy. Examples of neutral roles in bankruptcy include mediators, fee examiners, subchapter V trustees, and mass tort personal-injury plan administrators. Limitations on the use of neutrals in bankruptcy can be found in Bankruptcy Rule 9031, and there is growing support to modify the rule to eliminate this limitation.

Over the last several years, an increasing number of states, including New York, have adopted the UniformVoidable Transactions Act (UVTA), the latest update to the Uniform Voidable Transfer Act. The UVTA made a number of minor changes and updates to the Uniform Fraudulent Transfer Act (UFTA), including changingthe name. What changes were significant? What opportunities to fix problems/vagaries in the UFTA did the drafters miss? What amendments should the UVTA drafters consider?

The steep rise in student loan debt is one of the most pressing issues our country faces as it strives to create a more just and equitable society. Getting a college degree has become steadily more expensive, and graduates are often left with overwhelming debt burdens that sometimes take decades to repay. Coupled with the nondischargeability of student debt under the Bankruptcy Code, the “student debt problem” has become one of the most pressing issues of our time.

"Hosted by the International and Legislation Committees. In recent years, multiple jurisdictions have reformed or modernized their insolvency laws, either through incremental amendments or by entirely replacing the legislation. In this session, attendees will hear from practitioners from various jurisdictions about what motivated the decisions to amend their insolvency laws — and how the process unfolded in practice."

Public Securities and the Bankruptcy Plan Process: What Not to Do

Secured Credit Under the Code and Commission Report

The Asset Sales Committee hosted their most recent committee call on Wednesday, November 12. This call was titled "Bankruptcy Reform Commission’s Consideration of a Proposal to Surcharge Secured Lenders for 363 Asset Sales" and worked to more broadly inform and engage bankruptcy and restructuring professionals about the proposal being considered by the Bankruptcy Reform Commission to assess a charge on secured lenders for 363 asset sales in Chapter 11. Ms. Kathryn A. Coleman of Hughes Hubbard & Reed LLP and Mr. Gregory A.