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The Securities Claim Exemption in Bankruptcy: The Good, the Bad, and the Ugly
by Nelson S. American Bar Association
Nelson S. Ebaugh, P.C. - Houston Office
Ebaugh
Nelson S. Ebaugh, P.C. - Houston Office
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November 17, 2009
Previously published by Securities Litigation Journal
on Fall 2008
In a bankruptcy, the debtor’s goal is to avoid paying as many debts as possible. In doing so, the debtor will hopefully obtain a “fresh start.” For public policy reasons, however, debtors are barred from avoiding the payment of certain debts. In 2002, Congress added a new category of debt that may not be discharged. The new category includes debt arising from securities law violations. This Article examines the “securities claim exemption” to the discharge of debt arising from securities law violations.
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