Further Report on the Uniform Law Commission’s Efforts to Draft a Uniform Assignment for the Benefit of Creditors Act

Further Report on the Uniform Law Commission’s Efforts to Draft a Uniform Assignment for the Benefit of Creditors Act

by CLLA | Feb 14, 2025

The Uniform Law Commission (“ULC”) appointed a study committee to evaluate the need for and feasibility of a uniform act governing assignments for the benefit of creditors. That committee recommended that a drafting committee be appointed, and the ULC followed that...

Focus on Disinterestedness— All Debtors Should Have the Same Opportunities to Hire Professionals that Subchapter V Debtors Enjoy

Focus on Disinterestedness— All Debtors Should Have the Same Opportunities to Hire Professionals that Subchapter V Debtors Enjoy

by CLLA | Feb 14, 2025

Chapter 11 Subchapter V was enacted just before Covid-19 wracked the world. One of its notable provision is 11 U.S.C. § 1195: Notwithstanding section 327(a) of this title, a person is not disqualified for employment under section 327 of this title, by a debtor solely...

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