Note on the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (BAPCPA)

Abstract

In 2005 new legislation was passed by the U.S. Congress, and signed into law by the President, that introduced a number of major amendments to U.S. bankruptcy law, affecting both business and consumer bankruptcies. This legislation, called the Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA), became effective on October 17, 2005. This note summarizes key provisions of the new law that affect business bankruptcy reorganization under Chapter 11 of the U.S. Bankruptcy Code, contrasting these provisions with corresponding provisions in the old law.