Bankruptcy Legislation To Watch In 2015

Law360, New York (January 2, 2015, 3:29 PM EST) -- Reworking bankruptcy rules may not top any lawmaker's 2015 to-do list, but with lingering worries in Congress about the ripple effects of a failed financial institution, attorneys expect reforms of the existing bank-resolution process to take shape this year.

Congress has flirted before with overhauling Chapter 11 to make bankruptcy a workable option for dismantling systemically important financial institutions. But lawmakers now appear poised to act on legislation designed to avert the disorderly wind-downs seen in the aftermath of the 2008 financial crisis, while cross-border regulators have chimed in to advance their own ideas for keeping the markets safe when a megabank...

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