As part of the anniversary program sponsored by ABI to consider the impact of BAPCPA on the law, various commentators provided their views on the legislation's impact on bankruptcy. One of these commentators, Clifford J. White, provided his views from the perspective of a U.S. Trustee. Please note that these comments are those of the commentator and not necessarily those of the Legislation Committee or the ABI.
Making Bankruptcy Reform Work
by: Clifford J. White
U.S. Trustees Executive Office; San Juan, P.R.
Overall, the systems established to implement and enforce the reform law are proving workable for all stakeholders – debtors, creditors and the general public. The number and patterns of bankruptcy filings changed significantly after the enactment of Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (BAPCPA). (Numbers exclude judicial districts in North Carolina and Alabama, which are outside the jurisdiction of the U.S. Trustee Program).
- In FY 2006 (i.e., Oct. 1, 2005, through Sept. 30, 2006), total filings are expected to be slightly less than 1.1 million.
- Approximately 600,000 cases were filed during the two weeks prior to the
Oct. 17, 2005, general effective date of the BAPCPA. - In the latter part of FY 2006, filing rates were approximately 40 percent of the pre-BAPCPA rates.
- The number of cases filed per week is gradually rising.
- Chapter 13 filings represent a higher proportion of total consumer filings.
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In the latter part of FY 2006, chapter 13 filing rates have been well above
60 percent of the pre-BAPCPA rates. -
In the latter part of FY 2006, chapter 13 cases have represented 40 percent
of total filings compared to a historic average of 27.4 percent. - Chapter 11 filings have decreased post-BAPCPA by nearly 25 percent compared to FY 2005.
Read the full article. (Materials from the One Year Anniversary Program on BAPCPA)
Agenda for the 2006 Winter Leadership Conference
The Court Administration and Legislation Committees will have a joint session on Friday, Dec. 1 at 9:30 a.m., titled “How Judgeships Are Created and Vacancies Filled; Bankruptcy Rules and How New Rules Are Promulgated.” Where in the process are the new Rules to implement BAPCPA? What are some of the problems/implementation issues that courts/clerks are having with implementing the new Rules? Are there any suggestions to help or streamline the new Rules/BAPCPA? Speakers include Hon. David W. Houston III (U.S. Bankruptcy Court, S.D. Miss.; Aberdeen), R. Scott Williams (Haskell Slaughter Young & Rediker, LLC; Birmingham, Ala.) and Lynn Lewis Tavenner (Tavenner & Beran, PLC; Richmond).