July 09, 2005
Professionals lose under bankruptcy reform
While most of the focus of battle over the recent reforms to the Bankruptcy Act focused on credit card companies and cash-strapped consumers, one group of big losers under the deal will likely be high-income professionals whose work exposes them to malpractice claims, according to a recent analysis by Richard O. Jacobs of Holland & Knight LLP in St. Petersburg, Florida. Those hit with large malpractice verdicts are less likely to get them discharged, and more likely to have to pay them off over time out of their high earnings.
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