A Relief for Creditors: How the Bankruptcy Reform Act Impacts Business
Reprinted with permission from the July 2005 issue of Smart Business Philadelphia.
The much-anticipated and highly publicized bill to reform the federal bankruptcy law — the Bankruptcy Abuse, Prevention and Consumer Protection Act of 2005 — was approved by Congress and signed by President Bush on April 20th. Although attention has been focused on its effect on consumers, the act contains many provisions that impact creditors in commercial settings.
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