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2005 Bankruptcy Code Amendments: Quick Summary of Business Reorganization Changes

April 21, 2005

President Bush signed into law the Bankruptcy Abuse Prevention & Consumer Protection Act of 2005 (the "Act") on April 20, 2005. We summarize [in this article] only the changes relevant to lenders and other creditors in business reorganizations. With certain exceptions, the Act applies to cases commenced on or after October 17, 2005.