First and foremost, bankruptcy is about people—people who have problems. They look to their lawyers and to the court for a solution to those problems. More than 95 percent of all bankruptcy cases involve consumers, not businesses or corpora…
It is not unusual for consumer debtors to have borrowed from a qualified retirement or savings plan pre-petition to meet cash needs. Typically the debtor schedules the plan as a creditor with a claim in the amount of the outstanding balance…
Editor's Note: Part II of this article will be published in the March 1999 ABI Journal. One of the more interesting interactions between the Bankruptcy Code and the Uniform Commercial Code (UCC) is the treatment of the reclaiming seller. Ba…