Wednesday, April 27, 2011

Fed Seeks Comment on Bankruptcy Of Financial Firms$File/fedbr.pdf
David P. Goch: "Yesterday, the Federal Reserve Board indicated it, in conjunction with the Administrative Office of the United States Courts, will seek commenton two Dodd-Frank required bankruptcy-related studies to determinewhether bankruptcy laws should be modified in light of potential financial firm failures.

According to the proposal , one study will focus on whether changes are needed to Chapters 7 and
11 of the Bankruptcy Code, the other will ask whether more international coordination is needed when the matter involves interconnected firms with operations around the globe.

Comments are due 30 days following the future publication of the proposal in the Federal Register."