The bankruptcy code seems strangely inarticulate about adequate protection: what are we protecting and how do we measure “adequacy”? It’s not a term defined in §101. My class of new bankruptcy lawyers kept coming back to questions about adequate protection. The Code offers a roundabout explanation in § 361. We are protecting 1) creditors with an […]
Notice Key to Bankruptcy Success
Who should I give notice to, the young bankruptcy lawyer asked, the creditor who had limited legal capacity or the creditor’s conservator? One of the basic themes of bankruptcy is that it works on notice. Those who get notice of the case are bound by its outcome. The bankruptcy forms allow the debtor to characterize […]
Fine Time to be a New Bankruptcy Lawyer
The internet has transformed the learning curve for lawyers new to bankruptcy. Bankruptcy is a specialty and one problem in honing your skills was historically finding other specialists with whom to trade stories and ask questions. I was exceedingly lucky that I had an office right out of law school next to an experienced bankruptcy […]
