Bankruptcy, Pension Reform Has Limited Effect: GAO

Law360, New York (September 17, 2007, 12:00 AM EDT) -- Two recent laws affecting the legal landscape of employer-sponsored benefits within the Chapter 11 process are unlikely to dramatically affect employers' decisions, the U.S. Government Accountability Office found in a recent report.

At the request of several prominent congressional Democrats, the GAO studied the effects of the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 and the Pension Protection Act of 2006 on the 115 Chapter 11 bankruptcies filed between October 2004 and October 2006.

“Most professionals agreed that [BAPCPA] will not substantially affect employers’...
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