Abstract

Congress established a Bankruptcy Review Commission ("'Commission") when it enacted the Bankruptcy Reform Act of 1994. Although the Commission is empowered to review the Bankruptcy Code and make recommendations based upon its findings and conclusions, its focus is directed toward making suggestions that do not disturb the fundamental principles and balance of current law. Instead, the stated purposes of the Commission are: ( 1) to investigate and study issues and problems relating to title 11, United States Code (commonly known as the "'Bankruptcy Code"); (2) to evaluate the advisability of proposals and current arrangements with respect to such issues and problems; (3) to prepare and submit to the Congress, the Chief]ustice, and the President a report in accordance with section 608 [of the 1994 Amendments]; and ( 4) to solicit divergent views of all parties concerned with the operation of the bankruptcy system. The authors urge the Commission to consider the problem presented by the many unsettled basic questions of substantive bankruptcy law and potential solutions to that problem that involve systemic changes to the existing bankruptcy appeals process. The problem, and the possible solutions, are easy to identify and easy to understand. The problem can be seen in any issue of the West's Bankruptcy Reporter, and the possible solutions can be found, albeit indirectly, in "A Fence or an Ambulance," a poem read to third-graders in Temple, Texas in the 1950's.

Document Type

Article

Publication Date

1995

Comments

Coauthored with Paul M. Baiser

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