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Fundamentals of Bankruptcy for Lenders

AFTER ENACTMENT OF THE BANKRUPTCY ABUSE PREVENTION AND CONSUMER PROTECTION ACT OF 2005: A NEW WORLD ORDER?

Presented by Robert H. Chappell, III and Jennifer Jo West

DISCLAIMER: This outline describes only the most fundamental aspects of bankruptcy law, old and new. It is not comprehensive and is intended to provide only an overview. It should not be relied on as authoritative. Questions regarding bankruptcy should be directed to legal counsel.

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

Fundamental Policies of the Bankruptcy Code

General Principles of Bankruptcy Law

  1. The Estate
  2. Secured Claims
  3. Automatic Stay [§ 362]
  4. In Rem Relief From Automatic Stay as to Real Property
  5. Exemptions
  6. Preferences

Chapter 7 Bankruptcy

  1. The Basics of Chapter 7 Bankruptcy
  2. Secured Debts in Chapter 7
  3. Non-Dischargeable Debts
  4. Creditors' Strategy in Chapter 7

Chapter 13 Bankruptcy

  1. The Basics of Chapter 13
  2. The Co-Debtor Stay
  3. Appointment of Chapter 13 Trustee
  4. The Debtor Proposes a Chapter 13 Plan
  5. Dischargeability Under Chapter 13

Other New Chapter 13 Provisions

  1. Domestic Support Obligations
  2. Tax Returns
  3. Secured Creditors

Other Important Changes Under BAPCPA

  1. Negotiation with Debtors
  2. Notice to Creditors
  3. Debtors' Duties
  4. Debtors' Eligibility
  5. Privacy
  6. Miscellaneous Provisions

Chapter 12 Bankruptcy

  1. Debtor Eligibility
  2. The Co-Debtor Stay
  3. Appointment of a Chapter 12 Trustee
  4. Chapter 12 Plan of Repayment
  5. Dismissal or Conversion of Case
  6. Sale of Assets Free and Clear of Liens
  7. Adequate Protection
  8. Cash Collateral
  9. Discharge

Chapter 11 and Commercial Bankruptcy Practice

  1. Committees
  2. Reorganization or Liquidation
  3. Pre-Packaged Chapter 11 Plans
  4. Chapter 11 Disclosure Statement
  5. First Day Motions and Orders
  6. Issues Affecting the Debtor's Ongoing Operations
  7. Use, Sale and Lease of Property [§ 363]
  8. Cash Collateral
  9. Executory Contracts and Unexpired Leases [§ 365]
  10. Critical Vendors
  11. Avoidance of Actions
  12. Chapter 11 Case Management, Plan Confirmation, Voting and Cramdown
  13. Miscellaneous Commercial Provisions of BAPCPA
  14. Landlord Related Provisions
  15. Small Business Cases

For more information or to request a presentation regarding BAPCPA, please contact Spotts Fain attorneys, Robert H. Chappell, III (804) 697-2025 or Jennifer Jo West (804) 697-2094.