Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (BAPCPA) | Practical Law

Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (BAPCPA) | Practical Law

Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (BAPCPA)

Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (BAPCPA)

Practical Law Glossary Item 2-382-3254 (Approx. 2 pages)

Glossary

Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (BAPCPA)

Extensive amendments to the Bankruptcy Code signed into law on April 20, 2005, which became effective on October 17, 2005. These amendments generally disadvantage debtors and shift leverage on various important restructuring matters to creditors, while restricting or eliminating judicial discretion on a wide range of issues. The BAPCPA amendments also generally promote the expedited resolution of bankruptcy cases. For example, some BAPCPA amendments directly encourage the use of prepackaged bankruptcies, and others do so indirectly by making traditional reorganizations more difficult and expensive.