On April 20, 2005, President Bush signed into law the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (the Act). The Act made significant modifications to the United States Bankruptcy Code (11 U.S.C.
2005 Bankruptcy Act: What Your Company Needs To Know
On April 20, 2005, President Bush signed into law the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (the Act). The Act made significant modifications to the United States Bankruptcy Code (11 U.S.C. Section 101, <i>et seq.</i>) and related federal statutes. While initial focus centered on the Act's consumer bankruptcy provisions, the Act also contains provisions that significantly impact businesses and their representatives, including officers, directors and employees.
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