Bankruptcy Law Quotes

In 1978, we adopted a new Bankruptcy Code in the United States, and a principal part of this was designed to adjust to the new corporation, to find ways to let a corporation that had gotten into financial trouble reorganize itself. A big part of the selling point on this bankruptcy law was, 'It will preserve jobs.'

In the midst of the East Asian crisis, there were choices. One choice would have been to encourage countries to implement a bankruptcy law that could have threatened the interests of the lenders. Workers' rights should be a central focus of development. But nowhere did issues of workers' rights, including the right to participate in the decisions which would affect their lives in so many ways, get raised.

If a company can declare bankruptcy, why can't a country do so?

When Republicans say they want to run government 'like a business,' they apparently mean 'run government like a Trump casino headed straight for bankruptcy court.'

A lot of ambitious code has been written into the law for those and we will have to see if it actually works, if we have another example of a big financial institution going bankrupt.

When I went to law school, I took a bankruptcy class with then-professor, now-Senator Elizabeth Warren. And I'll never forget that first day of class, hearing her talk about the importance of the bankruptcy system.

I became a professor myself, teaching bankruptcy and consumer protection. I conducted a national study of mortgage companies in bankruptcy. And what I found was that big banks routinely broke the law.

Before the Affordable Care Act, one in five bankruptcies in this state was health care related.

By the time most people file for bankruptcy, their credit is already trashed, they have a high debt-to-income ratio - a key indicator lenders look at - and they've likely defaulted on more than a few accounts.

The Bankruptcy Reform Act of 2005 made it harder for individuals to file bankruptcy, which is always the last resort. Unfortunately, simultaneously consumers racked up so much debt that counseling companies - which are higher up on my list if you need help managing your debt - are sometimes unable to help. So if you fall into this camp, debt settlement may be something to consider.

Today, certain people file for bankruptcy, businesses and individuals, and it no longer has the stigma it once had. Now it's almost considered wise, a way to regroup and come back again.

Capitalism without bankruptcy is like Christianity without hell.

Restrict bankruptcy rules.

Almost half of the bankruptcies in the United States are connected to an illness in the family, whether people had health insurance or not. Middle-class Americans, who had the misfortune of either experiencing a medical emergency themselves or watching a family member suffer, were then forced to face the daunting task of pulling themselves out of debt. Bankruptcy law has allowed them to start over. It has given hope

Some economists estimate that for every family that goes bankrupt, there are about 15 more who are in the same amount of financial trouble and would profit from bankruptcy but just haven't filed.

We have been in recess since July, and during that time there has been a fuel crisis, a Danish no vote, the collapse of the euro and a war in the middle east, but what is our business tomorrow? The Insolvency Bill [Lords]. It ought to be called the Bankruptcy Bill [Commons], because we play no role.

In 1997, the National Bankruptcy Review Commission recommended that chapter 12 of the Federal Bankruptcy Code, the chapter that contains bankruptcy protection for family farmers, be made permanent.

What is the harm of doing the right thing? What is the harm of doing our job as legislators and making sure we do not stick the entire bankruptcy community with these provisions that do not make any sense?

Of all the artists on Death Row, none of them went bankrupt.