Will Rule 6003 Have A Lasting Impact On Anyone?

Law360, New York (May 21, 2009, 12:00 AM EDT) -- Bankruptcy Rule 6003 was added to the Bankruptcy Code in response to pressure from creditors on Congress to restrict the relief available to debtors in the early stages of a bankruptcy case. Prior to Rule 6003, debtors routinely requested a broad spectrum of relief from courts during the first few days of any new filing.

This included critical vendor motions as well as motions to immediately sell all or a substantial part of a debtor’s assets and/or assume and assign some or all existing leases or...
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