« Challenge to CFPB Authority | Main | Apologies for Bankruptcy »

A Change in Name and More

posted by Bob Lawless

Some recent moves in the Senate Judiciary Committee should be of interest to bankruptcy specialists.  The committee has approved a new subcommittee to be called "Bankruptcy and the Courts" with Senator Chris Coons of Delaware as the subcommittee chair. The new subcommittee is essentially a name change from the old "Administrative Oversight and the Courts" subcommittee, which also had jurisdiction over bankruptcy matters.

Names can matter. Given that more U.S. citizens have contact with the  bankruptcy courts than any other part of the federal court system, I hope the name change is a signal that improvements to the bankruptcy law will be a central part of the subcommittee's work.

Perhaps the most significant news was Senator Coons's selection as subcommittee chair. As emphasized by local Delaware media, Senator Coons will be in a key position to ensure the Delaware bankruptcy courts continue to dominate the market for chapter 11s. In his press release, Senator Coons appeared to signal as much:

"Delaware has a well established and respected bankruptcy bench and bar, and I look forward to working with Delaware experts to make sure that our bankruptcy system resolves cases predictably and with the proper balance between the interests of creditors and debtors."

It looks like reform to the chapter 11 venue rules will not be in the offing.

Comments

I might be wrong, but I think bankruptcy and credit legislation within the House Judiciary Committee used to be relegated to the mysterious sounding Subcommittee no. 4. Names can matter.

"to make sure our bankruptcy system.."

Is that the federal bankruptcy system or the Delaware bankruptcy system?

The comments to this entry are closed.

Contributors

Current Guests

Follow Us On Twitter

Like Us on Facebook

  • Like Us on Facebook

    By "Liking" us on Facebook, you will receive excerpts of our posts in your Facebook news feed. (If you change your mind, you can undo it later.) Note that this is different than "Liking" our Facebook page, although a "Like" in either place will get you Credit Slips post on your Facebook news feed.

News Feed

Categories

Bankr-L

  • As a public service, the University of Illinois College of Law operates Bankr-L, an e-mail list on which bankruptcy professionals can exchange information. Bankr-L is administered by one of the Credit Slips bloggers, Professor Robert M. Lawless of the University of Illinois. Although Bankr-L is a free service, membership is limited only to persons with a professional connection to the bankruptcy field (e.g., lawyer, accountant, academic, judge). To request a subscription on Bankr-L, click here to visit the page for the list and then click on the link for "Subscribe." After completing the information there, please also send an e-mail to Professor Lawless (rlawless@illinois.edu) with a short description of your professional connection to bankruptcy. A link to a URL with a professional bio or other identifying information would be great.

OTHER STUFF