The bankruptcy jungle

Article Abstract:

Bankruptcy filings have increased, along with bankruptcy costs and the number of fraudulent bankruptcy filings. Personal bankruptcy filings increased by an average of 39,600 per year between 1980 and 1988, and they are expected to increase by an average of 52,500 per year between 1991 and 1998. Bankruptcy costs totaled $12 billion for creditors and $1.5 billion for bank credit card issuers in 1988. Fraudulent bankruptcies have also increased, involving such tactics as transferring assets a shortly before filing for bankruptcy, and incurring debts without expecting to repay them. Visa USA has been attempting to decrease bankruptcies and bankruptcy fraud through a consumer education program and the Bankruptcy Recovery Program.

Analysis, Management, Statistics, Bankruptcy, Visa U.S.A. Inc., Fraudulent conveyances

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Are the U.S. bankruptcy courts observing state laws?

Article Abstract:

Public utilities may be facing bankruptcy judges who are not agreeing with the positions advocated by utilities. Bankruptcy judges should comply with state laws related to utilities' practices. In the case of Robinson, the bankruptcy court relied on Section 959(b) of the Bankruptcy code in deciding that Section 366(b) of the Bankruptcy Code did not preempt all state laws related to the termination of the services of a utility. In disputes involving Section 366(b), bankruptcy courts should ensure that their decisions fit within the scope of Section 959(b).

ELECTRIC, GAS, AND SANITARY SERVICES, Courts, Interpretation and construction, Cases, Bankruptcy law, Public utilities, Bankruptcy courts

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