Background Note | HBS Case Collection | March 2009

Note on the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (BAPCPA)

by Stuart C. Gilson

Abstract

In 2005, new legislation was passed by the U.S. Congress and signed into law by the President that introduced a number of major amendments to U.S. bankruptcy law, affecting both business and consumer bankruptcies. This legislation, called the Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA), became effective on October 17, 2005. This note summarizes key provisions of the new law that affect business bankruptcy reorganization under Chapter 11 of the U.S. Bankruptcy Code, contrasting these provisions with corresponding provisions in the old law.

Keywords: Government Legislation; Restructuring; Personal Finance; Laws and Statutes; Insolvency and Bankruptcy; Corporate Finance;

Citation:

Gilson, Stuart C. "Note on the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (BAPCPA)." Harvard Business School Background Note 209-133, March 2009.