Tougher bankruptcy fight looms; bill revived

Article Abstract:

Senators Howell Heflin and Charles E. Grassley plan to reintroduce bankruptcy legislation which was almost passed in 1992, and bankruptcy attorneys and banks promise to fight the proposed law. Critics charge that the bill is anti-consumer and would give creditors unfair leverage over consumers. The bill establishes a commission to study the Bankruptcy Code, includes measures to encourage debtors to repay monies owed rather than liquidate debts and a limit on the time allowed for filing reorganization plans.

Interpretation and construction, Debtor and creditor

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Court reverses self on 'new value exception.' (bankruptcy)

Article Abstract:

A panel of the 5th US Circuit Court of Appeals withdrew a section of a recent decision which was favorable to creditors in bankruptcy matters. The Feb 27, 1992 ruling overturned the court's Nov 19, 1991 opinion which dismissed the 'new value exception' to the priority rule. The new value exception has been invoked to help debtors hold properties against creditors. The Nov 1991 ruling has already been cited in several bankruptcy cases, although it has been interpreted both for and against creditors.

Cases, Priorities of claims and liens

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Bankruptcy, OSHA, workplace bills top Congress' agenda

Article Abstract:

The 1993-94 US Congress will consider many business issues. One of these is the Workplace Fairness Act, which would forbid companies from permanently replacing strikers but allow temporary replacements. The Bankruptcy Improvements Act would diminish lending to bankrupt corporations, which the National Bankruptcy Conference charges would unduly complicate corporate reorganizations. The Comprehensive Occupational Safety and Health Reform Act would make enforcement in this area stricter.

Occupational health and safety, Occupational safety and health, Political aspects, Labor law

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