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Resolution Authority: Dodd-Shelby Amendment

posted by Stephen Lubben

Still digesting the new Dodd-Shelby compromise, but so far the implications for resolution authority that I can see are:

  • Proceedings move from the Delaware bankruptcy court to the D.C. District Court.
  • There is a hard cap on the length of proceedings at 5 years (3 yrs. plus two 1 yr. extensions)
  • There is a new priority for employee wage claims, like the one found the Bankruptcy Code

May 5, 2010 at 1:36 PM in Pending and New Legislation

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