U.S. Bankruptcy Court for the District of R.I. Adopts Loss Mitigation Program and Procedures by Catherine V. Eastwood, Esq., Patricia Antonelli, Esq., and Lauren F. Verni, Esq.


On October 22, 2009, the Bankruptcy Court for the District of Rhode Island issued a General Order announcing the adoption of a court-supervised loss mitigation program (the “Program”) that will go into effect on November 1, 2009. The Program is patterned closely on a similar program utilized by the United States Bankruptcy Court for the Southern District of New York. The Program places specific burdens and time frames on creditors.

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