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The 1986 Act applies to cases filed since November 26, 1986. The Bankruptcy Reform Act of 1994 is effective as to cases filed on or after October 22, 1994. The reform act and the case law interpreting its provisions have a great impact upon the mortgage banking industry and the servicers of mortgage loans.
The Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA) made changes to American bankruptcy laws, affecting both consumer and business bankruptcies. Many of the bill's provisions were explicitly designed by the bill's Congressional sponsors to make it "more difficult for people to file for bankruptcy."
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were several short-lived federal bankruptcy laws before the Act of 1898: the Bankruptcy Act of 1800, [3] which was repealed in 1803; the Act of 1841, [4] which was repealed in 1843; and the Act of 1867, [5] which was amended in 1874 [6] and ...
December 20, 2019: National Defense Authorization Act for Fiscal Year 2020, Pub. L. 116–92 (text) January 29, 2020: United States–Mexico–Canada Agreement Implementation Act, Pub. L. 116–113 (text) March 6, 2020: Coronavirus Preparedness and Response Supplemental Appropriations Act, 2020, Pub. L. 116–123 (text)
In 1994, Congress enacted the Bankruptcy Reform Act of 1994, which included an amendment of 28 U.S.C. § 158 (the statute governing appeals in bankruptcy cases) to require all circuits to establish a BAP unless the judicial council of a circuit found that (1) there were insufficient judicial resources in the circuit to do so, or (2) the ...
Jason Iuliano, associate professor of law at the University of Utah and an expert on student loan bankruptcy law, told Yahoo Finance that the bill's 10-year waiting period was noteworthy.
The coronavirus pandemic has devastated the restaurant industry. By mid-April of 2020, an estimated 30,000 American restaurants had closed for good and more than 110,000 were expected to shutter by...
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 ...