Recent Developments in Bankruptcy

Although bankruptcy deals primarily with the interpretation and application of the Bankruptcy Act, which was enacted in 1898, significant new developments continue to occur which are of importance both to the bankruptcy specialist and to the general practitioner. This results from the interplay of repeated amendments to the Act by Congress, new authoritative decisions on points of previous uncertainty in the interpretation of the Act, and the steady evolution of new commercial forms and new factual situations. This article will review several of the more important recent developments which illustrate each of these factors.