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Originally, bankruptcy in the United States, as nearly all matters directly concerning individual citizens, was a subject of state law. However, there were several short-lived federal bankruptcy laws before the Act of 1898: the Bankruptcy Act of 1800, [3] which was repealed in 1803; the Act of 1841, [4] which was repealed in 1843; and the Act of 1867, [5] which was amended in 1874 [6] and ...
In such municipal bankruptcies, the municipal government repudiate or modify contracts and debts. [3] The federal judge overseeing the case can reject the proposed plan, but cannot force a tax hike or any other government function. [3] The Supreme Court found the law to be constitutional in the 1938 case United States v. Bekins. [7]
The United States government-endorsed sale enabled the NGMCO Inc. [1] ("New GM") to purchase the continuing operational assets of the old GM. [2] [3] [4] Normal operations, including employee compensation, warranties, and other customer services were uninterrupted during the bankruptcy proceedings. [2]
United States bankruptcy courts are courts created under Article I of the United States Constitution. [1] The current system of bankruptcy courts was created by the United States Congress in 1978, effective April 1, 1984. [2] United States bankruptcy courts function as units of the district courts and have subject-matter jurisdiction over ...
The 2023 United States banking crisis was a series of bank failures and bankruptcies that took place in early 2023, with the United States federal government ultimately intervening in several ways. Over the course of five days in March 2023, three small-to-mid size U.S. banks failed, triggering a sharp decline in global bank stock prices and ...
Section 201 of the Social Security Act requires that the money in the trust funds be invested in interest-bearing debt securities issued and guaranteed by the federal government known as U.S ...
This is a list of Supreme Court of the United States cases in the area of bankruptcy. This list is a list solely of United States Supreme Court decisions about applying law related to bankruptcy. Not all Supreme Court decisions are ultimately influential and, as in other fields, not all important decisions are made at the Supreme Court level.
Bankruptcy in the United States is a matter placed under federal jurisdiction by the United States Constitution (in Article 1, Section 8, Clause 4), which empowers Congress to enact "uniform Laws on the subject of Bankruptcies throughout the United States".