Bankruptcy Developments: (1) Supreme Court Gets Active in Bankruptcy Law, and (2) Chapter 11 Reform is Under Way

While overall bankruptcy filings continue a decline that started in 2010, the U.S. Supreme Court is unusually active in bankruptcy issues this term, having accepted six cases with bankruptcy issues. In this article, we discuss one of the issues the Supreme Court is considering: whether a debtor can strip a lien off of real estate in a Chapter 7 case.