ABA Section of Business Law
Business Law Today
Our mini-theme:
Dealing With Bankruptcy
Ever since the 1978 Bankruptcy Reform Act demystified bankruptcy law and, in a sense, made it accessible "to the masses," both business and consumer bankruptcy rates have risen dramatically. With that rise comes bankruptcy risk: Nearly every deal now carries some bankruptcy risk, far more than in the "good ole' days" before 1978. Every business lawyer thus needs better than a passing acquaintance with bankruptcy law.
In this issue, we present several articles focused on discrete situations that expose some of the twists and turns of this complicated area of law. Christopher Combest focuses on the real estate landlord, the special treatment reserved for landlords in the bankruptcy law, and ways for landlords to reduce the risks of tenant default.
The recent amendments known as the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (BAPCPA) were primarily addressed to consumer bankruptcies. Lawyers are just beginning to consider how to comply with the new law. They are also just beginning to develop new ways to use it to client advantage. The article by David Samole and Lisa Keyfetz is an imaginative example: They tentatively suggest that new restrictions on exempt property may — in some cases — make a risky involuntary petition against a consumer worthwhile where, in the past, it would not have been.
Our last two articles focus on a business bankruptcy area of great interest to individuals: the survival or demise of a debtor's pension plan obligations in bankruptcy. Babette Ceccotti focuses from the employees' perspective on pension plan obligations in bankruptcy, tangled in collective bargaining agreements. Carol Connor Flowe takes on this complicated area from the distressed debtor's perspective and considers the debtor's options when faced with pension plan obligations in bankruptcy.
We hope that these contributions add to your growing knowledge of this most important field.
— Bruce Borrus
Seattle
— U.S. Judge Philip H. Brandt
Seattle
— William J. Woodward Jr.
Philadelphia
Ever since the 1978 Bankruptcy Reform Act demystified bankruptcy law and, in a sense, made it accessible "to the masses," both business and consumer bankruptcy rates have risen dramatically. With that rise comes bankruptcy risk: Nearly every deal now carries some bankruptcy risk, far more than in the "good ole' days" before 1978. Every business lawyer thus needs better than a passing acquaintance with bankruptcy law.
In this issue, we present several articles focused on discrete situations that expose some of the twists and turns of this complicated area of law. Christopher Combest focuses on the real estate landlord, the special treatment reserved for landlords in the bankruptcy law, and ways for landlords to reduce the risks of tenant default.
The recent amendments known as the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (BAPCPA) were primarily addressed to consumer bankruptcies. Lawyers are just beginning to consider how to comply with the new law. They are also just beginning to develop new ways to use it to client advantage. The article by David Samole and Lisa Keyfetz is an imaginative example: They tentatively suggest that new restrictions on exempt property may — in some cases — make a risky involuntary petition against a consumer worthwhile where, in the past, it would not have been.
Our last two articles focus on a business bankruptcy area of great interest to individuals: the survival or demise of a debtor's pension plan obligations in bankruptcy. Babette Ceccotti focuses from the employees' perspective on pension plan obligations in bankruptcy, tangled in collective bargaining agreements. Carol Connor Flowe takes on this complicated area from the distressed debtor's perspective and considers the debtor's options when faced with pension plan obligations in bankruptcy.
We hope that these contributions add to your growing knowledge of this most important field.
— Bruce Borrus
Seattle
— U.S. Judge Philip H. Brandt
Seattle
— William J. Woodward Jr.
Philadelphia
How secure is that lease?
Beyond deposits and guaranties, don't forget about letters of credit
By Christopher Combest
New law, new tools for creditors
A fresh look at the involuntary bankruptcy petition
By David A. Samole and Lisa B. Keyfetz
What about my pension?
Bankruptcy invades what was once a secure world
By Babette Ceccotti
But there's no money
A tale of management and pensions
By Carol Connor Flowe
In search of an ethics guide
The author owns up: He's a nerd on the subject
By Lucian T. Pera
When boilerplate gets hot
The saga of a business lawyer who glossed over the language
By Darren Van Puymbrouck and Chistopher J. Zinski
Immigration: What's an employer to do?
People want to work: Help them out or turn them in?
By Francesca Jarosz
Security before and after a data breach
By Ronald I. Raether Jr.
