What Do The Bankruptcy Amendments Mean For The Healthcare Industry?
As has been widely reported in the financial press, the April 2005 amendment of the Bankruptcy Code represents the most sweeping changes to the Code in several decades. And while considerable media coverage has described what the new laws mean for consumers, the ramifications of those changes for healthcare bankruptcies has gone largely unaddressed by the mainstream press. We believe that for the healthcare industry, the most significant ramifications of the 2005 bankruptcy law changes are likely to include the following:
Continue Reading Questions & comments 1Bankruptcy Abuse Prevention and Consumer Protection Act of 2005
On April 20 President Bush signed the "Bankruptcy Abuse Prevention and Consumer Protection Act of 2005." This act represents the biggest overhaul of bankruptcy law in more than 25 years. While the focus of the act, and much of the publicity surrounding its passage, has centered on its consumer provisions, numerous other changes have been made to the bankruptcy laws that govern chapter 11 business reorganizations.
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