BAPCPA

Judge Riblet on the Absolute Priority Rule

BAPCPA, Courts, Lawyering

The Absolute Priority Rule is an arcane part of the Bankruptcy Code (see 11 USC § 1129(b)(2)(B)(ii)). It says that, in a Chapter 11 plan, lower classes of creditors cannot be paid anything unless higher classes have either been paid in full Read more >>

Filing Bankruptcy If Debtor No Longer Lives in US

BAPCPA, Business, Corporations, Pre-Bankruptcy Planning, Procedure, Trustee

I had an American client who lived in Europe – Luxembourg, of all places. He moved because his business ventures in the US were going bad. His wife was from Luxembourg, so the family moved close to his in-laws Read more >>