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The Legislative Landscape for Consumer Bankruptcy: Chapter 10, Student Loans and Beyond


Level: Advanced
Runtime: 70 minutes
Recorded Date: November 03, 2021
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Agenda

  • S 4991 - Consumer Bankruptcy Reform Act of 2020
  • Single Chapter 10 for Debtor Relief
  • Enhanced Debtor's Rights & Privileges
  • Three Types of Plans - Tender - Alternative to Tender
  • Duties of the Trustee
  • Enforcement of a Plan
  • Higlights of Residence Plans or Property Plans
  • The Limited Proceedings
  • Other Amendments
Runtime: 1 hour, 10 minutes
Recorded: November 3, 2021

For NY - Difficulty Level: For experienced attorneys only (non-transitional)

Description

To ease the financial fallout from the pandemic, there could be increased congressional interest in consumer bankruptcy reform. Sen. Elizabeth Warren and Rep. Jerrold Nadler already have proposed a complete overhaul of the consumer bankruptcy system and a new chapter 10 for all individual debtors. Several pending legislative proposals would make it easier to discharge student loans in bankruptcy. Profs. Robert Lawless and Adam Levitin will explain these proposals, the motivating factors behind them, and what else might be coming in the consumer bankruptcy world.

This program was recorded as part of ABI's 2021 Consumer Practice Extravaganza Virtual Conference on November 3rd, 2021.

Provided By

American Bankruptcy Institute
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Panelists

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Prof. Adam J. Levitin

Professor of Law
Georgetown University Law Center

Prof. Adam J. Levitin is the Anne Fleming Research Professor and Professor of Law at Georgetown University Law Center in Washington, D.C., where he teaches courses in bankruptcy, commercial law and financial regulation.

Before joining Georgetown faculty, he practiced in the Business Finance & Restructuring Department of Weil, Gotshal & Manges, LLP, and clerked for Hon. Jane R. Roth on the U.S. Court of Appeals for the Third Circuit. Prof. Levitin has also previously served as the Bruce W. Nichols Visiting Professor of Law at Harvard Law School, as the ABI Robert N. Zinman Scholar in Residence, as special counsel to the Congressional Oversight Panel for the Troubled Asset Relief Program, and on the Consumer Financial Protection Bureau’s Consumer Advisory Board. A laureate of the American Law Institute’s Young Scholar’s Medal, he has testified before Congress more than 30 times and is the author of numerous books and articles.

Prof. Levitin is also a elected member of the American Law Institute and a Fellow of the American College of Consumer Financial Services Lawyers. He received his A.B. magna cum laude in Near Eastern languages and civilizations and history from Harvard College, his A.M. and M.Phil. in history from Columbia University, and his J.D. cum laude from Harvard Law School.

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Robert M. Lawless

Max L. Rowe Professor of Law
University of Illinois College of Law

Prof. Robert M. Lawless is the Max L. Rowe Professor of Law and co-director of the Program on Law, Behavior & Social Science at the University of Illinois College of Law in Champaign, Ill., where he writes and teaches about bankruptcy, consumer finance and business law. He also served as the College’s associate dean for research from 2013-16.

Prof. Lawless served as the reporter for the ABI’s Commission on Consumer Bankruptcy and was the recipient of ABI’s Service Award in 2019. He is a co-author of Secured Transactions: A Systems Approach and Empirical Methods in Law. He also is a regular contributor to the blog Credit Slips, a discussion on credit, finance and bankruptcy.

Prof. Lawless has testified before Congress, and his work has been featured in media outlets such as CNN, C-SPAN, NPR, the New York Times, the Wall Street Journal, USA Today, the National Law Journal, the L.A. Times and the Financial Times. He received both his undergraduate degree in accounting and his J.D. from the University of Illinois, during which time he served as editor-in-chief of the University of Illinois Law Review.


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