Law360 (April 2, 2009, 12:00 AM EDT) -- As more and more businesses file for bankruptcy, Rep. Jerrold Nadler, D-N.Y., has introduced a bill in the U.S. House of Representatives that aims to roll back some of the 2005 revisions to the U.S. Bankruptcy Code, which congressional Democrats fear are making reorganization tougher in the current economy.
The Business Reorganization and Consumer Protection Act, put forth Thursday, calls for certain aspects of the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 to be rescinded, in an effort to ease the burden for retailers...
US Rep. Pushes To Kill '05 Bankruptcy Code Reforms
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