Bankruptcy Reform Forces Lawyers To Plan Ahead

Law360, New York (December 21, 2006, 12:00 AM EST) -- While the Bankruptcy Abuse Prevention and Consumer Protection Act has only been in effect for a little more than a year, bankruptcy attorneys are already noticing that while companies may spend less time parked in bankruptcy, they will need more time to prepare before they file.

With stricter limits on debtor exclusivity periods, consumer leases and executive compensation, the bankruptcy reform act compels companies to take more steps before filing for bankruptcy in order to put their cases on the fast track.

“Companies are going to...
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