 Article
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Derivatives Provisions of the 2005 Bankruptcy Amendments |
March 4, 2006
Previously published on April 22, 2005
The Bankruptcy Abuse Prevention and Consumer
Protection Act of 2005 (the "Act") is a sweeping overhaul
of many provisions of the U.S. Bankruptcy Code (the
"Code"), including refinement and changes to the safe
harbor provisions (e.g.,exemption from avoidance and the
automatic stay, enforceability of bankruptcy default triggers
and liquidation remedies) protecting certain derivatives
contracts and counterparties in bankruptcy. This
memorandum discusses the major derivatives-related provisions
of the Act.
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The views expressed in this article are solely the views of the author and not Martindale-Hubbell. This article is intended for informational purposes only and is not legal advice or a substitute for consultation with a licensed legal professional in a particular case or circumstance. |
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