Bankruptcy Reform Act of 1978
Bankruptcy Reform Act of 1978
the first substantive bankruptcy code revision since the Chandler Act of 1938. It took effect on October 1, 1979 and some of the major elements of this act were as follows: upgrading the jurisdiction of the U.S. bankruptcy courts to deal with cases handled by other courts (subsequently modified); allowing the filing of a single joint petition of bankruptcy by husband and wife; reorganizing the Chapters of bankruptcy; in particular, concerning business reorganization, Chapters X, XI and XII of the old code are replaced by Chapter 11; expanding the number of people eligible and the type of relief available to people in a new Chapter 13, wage-earner reorganization bankruptcy; altering the appellate procedure allowing direct appeal to the U.S. courts of appeal (subsequently modified); and generally, making federal exemption provisions and options for debtors more extensive (Glossary of Common Bankruptcy Terms)

United Glossary of Bankruptcy Terms 2012.


Glossary of Bankruptcy.

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  • Bankruptcy Reform Act of 1978 — The Bankruptcy Reform Act of 1978 (USPL|95|598, USStat|92|2549, November 6, 1978) is a United States Act of Congress regulating Bankruptcy.The current Bankruptcy Code was enacted in 1978 by § 101 of the Act which generally became effective on… …   Wikipedia

  • Bankruptcy Reform Act of 1994 — the most comprehensive piece of bankruptcy legislation since the Bankruptcy Reform Act of 1978; signed into law on October 22, 1994 with most provisions effective immediately; included in the 1994 Act are: provisions to expedite bankruptcy… …   Glossary of Bankruptcy

  • Bankruptcy Tax Act of 1980 — the Bankruptcy Reform Act of 1978 did not specify how certain tax matters concerning bankruptcies should be handled. The Bankruptcy Tax Act of 1980 was passed to specify the tax treatment of bankruptcy tax issues. It specifies the tax treatment… …   Glossary of Bankruptcy

  • Bankruptcy Reform Act — 1978 A US law that brought about major changes to bankruptcy law after 40 years of the previous legislation. The reforms made it easier to file petitions, amended the previous absolute rule giving priority to secured creditors in all cases, and… …   Big dictionary of business and management

  • Bankruptcy Act of 1898 — the basis of the federal bankruptcy statutes used until the Bankruptcy Reform Act of 1978. It provided primarily for liquidation of companies; reorganization could be affected indirectly under the 1898 Act through equity receiverships (these were …   Glossary of Bankruptcy

  • American Recovery and Reinvestment Act of 2009 — Stimulus bill redirects here. For other uses, see Stimulus bill (disambiguation). ARRA redirects here. For other uses, see ARRA (disambiguation). American Recovery and Reinvestment Act of 2009 Full title An act making supplemental appropriations… …   Wikipedia

  • Bankruptcy Code — the name given to the statutory body of bankruptcy laws after the Bankruptcy Reform Act of 1978 (Glossary of Common Bankruptcy Terms) The common name given to title 11 of the United States Code. The Bankruptcy Code is a set of federal statutes… …   Glossary of Bankruptcy

  • Bankruptcy Amendments of 1984 — a set of amendments to the Bankruptcy Reform Act of 1978. The Amendments contain a number of provisions including: limiting the jurisdiction of the bankruptcy court, limiting the right of companies to invalidate labor contracts while in… …   Glossary of Bankruptcy

  • Bankruptcy in the United States — The United States Constitution (Article 1, Section 8, Clause 4) authorizes Congress to enact uniform Laws on the subject of Bankruptcies throughout the United States. Congress has exercised this authority several times since 1801, most recently… …   Wikipedia

  • Bankruptcy Appellate Panel — A Bankruptcy Appellate Panel (abbreviated BAP) is a group of judges of the United States bankruptcy courts who are appointed to hear appeals from certain bankruptcy cases under the supervision of the United States courts of appeals.Not all of the …   Wikipedia

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