Proposed Bankruptcy Chapter would End Government Bailouts

more+
less-

Financial institutions deemed "too big to fail" may have a new avenue to eliminate debts and get square with creditors under a proposed amendment to the U.S. Bankruptcy Code.

A new bill proposed by Rep. Spencer Bachus (R-AL), called the Consumer Protection and Regulatory Enhancement Act, would create a Chapter 14 of the laws governing bankruptcy in the United States. It would allow non-bank financial institutions to restructure their debts without inflicting chaos into the financial markets.

The bill comes in response to a year of government bailout and interventions to prop up struggling firms such as Bear Stearns and AIG.

LOADING PDF: If there are any problems, click here to download the file.


DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Chris Kramer, Clear Bankruptcy | Attorney Advertising

Written by:

more+
less-

Clear Bankruptcy on:

JD Supra Readers' Choice 2016 Awards
Reporters on Deadline

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:

Sign up to create your digest using LinkedIn*

*By using the service, you signify your acceptance of JD Supra's Privacy Policy.

Already signed up? Log in here

*With LinkedIn, you don't need to create a separate login to manage your free JD Supra account, and we can make suggestions based on your needs and interests. We will not post anything on LinkedIn in your name. Or, sign up using your email address.
×
Loading...
×
×