Federal Bankruptcy Rules

The new 500-plus page Federal Bankruptcy law generally going into effect on Oct. 17th. did not allow sufficient time to formally promulgate formal rules of procedure. Courts are therefore being urged to adopt, and attorneys made aware of, Interim Bankruptcy Rules, which have been approved by the Advisory Committee on Bankruptcy Rules and the Committee on Rules of Practice & Procedure.

The Advisory Committee on Bankruptcy Rules met last week in Santa Fe to review the need for changes to the interim rules. It was decided that five additional amendments, and an amendment of an existing interim rule, be adopted by the Standing Committee and recommended to the courts prior to October 17. The recommendations were made on “the strong consensus that the changes could not await the normal Rules Enabling Act process, but were not subject to any significant controversy.” ( 28 USC §2075 specifically on bankruptcy )

Additional updates and information are available on the Federal Courts Rulemaking and Bankruptcy Court’s websites.