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April 26, 2011

Fed Seeks Comment on Bankruptcy Of Financial Firms

David P. Goch: "Yesterday, the Federal Reserve Board indicated it, in conjunction with
the Administrative Office of the United States Courts, will seek comment
on two Dodd-Frank required bankruptcy-related studies to determine
whether bankruptcy laws should be modified in light of potential
financial firm failures.

According to the proposal <http://op.bna.com/bar.nsf/r?Open=cbre-8g5qw3>
, one study will focus on whether changes are needed to Chapters 7 and
11 of the Bankruptcy Code, the other will ask whether more international
coordination is needed when the matter involves interconnected firms
with operations around the globe.

Comments are due 30 days following the future publication of the
proposal in the Federal Register."

A copy of the proposal is attached.

April 26, 2011 in Current Affairs | Permalink


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