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West Virginia.

February 06, 2012

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Bankruptcy News

President Signs Bankruptcy Abuse Prevention, Consumer Protection Act

THE PRESIDENT: Thank you all. Please be seated. Welcome. Thank you very much for coming today. Today we take an important action to strengthen -- to continue strengthening our nation's economy. The bipartisan bill I'm about to sign makes common-sense reforms to our bankruptcy laws. By restoring integrity to the bankruptcy process, this law will make our financial system stronger and better. By making the system fairer for creditors and debtors, we will ensure that more Americans can get access to affordable credit.

I'm pleased to be joined today by the Attorney General Al Gonzales. I want to thank the bill sponsors in the House and the Senate -- Senator Chuck Grassley of the Senate -- I think you told me you'd been working on this bill for nine years. That's a long time. I appreciate Congressman Jim Sensenbrenner from the House for being the sponsor in the House. Thank you.

Contact West Virginia lawyers today and get a free consultation!

Did You Know?

Chapter 7 of the United States Bankruptcy Code is the Bankruptcy Code’s “liquidation” chapter
Lawyers sometimes refer to it as a “straight bankruptcy.” It is used primarily by individuals who wish to free themselves of debt simply and inexpensively, but may also be used by businesses that wish to liquidate and terminate their business.

	Newsroom
	News about Bankruptcy in West Virginia and nationwide: Attorney General Advocates Pay Raise for Federal Judges January 18, 2007 — Attorney General Alberto R. Gonzales said he thinks federal judges should receive a pay raise. His comments about judges'... Read more > U.S. Bankruptcy Court Declines GM Plea to Halt Delphi Hearing U.S. Bankruptcy Court Declines GM Plea to Halt Delphi Hearing NEW YORK: A U.S. bankruptcy court judge has turned down Gen... Read more > The Honorable Jed Rakoff Approves Settlement of SEC'S Claim for a Civil Penalty Against Worldcom In its Opinion and Order, the Court concluded that "the proposed settlement is not only fair and reasonable but as good an outcome as anyone could ... Read more > More Bankruptcy News >

Bankruptcy Terms

Today's Terms

Substantive consolidation

Definition:
The combination of the estate of one debtor with the estate of one or more other debtors and the application of the combined estate to satisfy their combined liabilities.

Liquidating reorganization

Definition:
An informal term for a Chapter 11 proceeding when the company is essentially liquidated through one or more asset sales.

Bankruptcy Amendments of 1984

Definition:
A set of amendments to the Bankruptcy Reform Act of 1978. It contains a number of provisions including: limiting the jurisdiction of the bankruptcy court.

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Bankruptcy Resources

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Bankruptcy Hot Topics

Topics Related to Bankruptcy:

Chapter 7
Chapter 13
Chapter 11
Chapter 12
Chapter 9

West Virginia Bankruptcy Attorney

If you live in the following cities and need a Bankruptcy attorney you should contact our Bankruptcy Attorney as soon as possible:

Barboursville
Beckley
Bluefield
Bridgeport
Buckhannon
Charles Town
Charleston
Clarksburg
Elkins
Elkview
Fairmont
Grafton
Harpers Ferry
Huntington

Hurricane
Keyser
Logan
Martinsburg
Morgantown
Moundsville
Oak Hill
Parkersburg
Princeton
Saint Albans
Vienna
Weirton
Wellsburg
Wheeling

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