New Bankruptcy Law Impact Still Unclear
While we have been witnessing a trend of rise and fall in bankruptcy filings ever since the new bankruptcy law came into effect, we are yet to know the long-term impact of the law. According to a report by the Administrative Office of the US Courts, one thing that is certain is that there may be a 10 percent increase in staff for federal bankruptcy courts. Communitydispatch.com reports:
Most of that impact was felt in clerk of court offices. The Act’s impact on bankruptcy judges is less clear, the report said, but the AO and the Federal Judicial Center continue to monitor case filings, workloads and case law developments.
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