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ARTICLE · 13 APRIL 2013

Bankruptcy Dollar Amount And Form Changes That May Affect You

Duane Morris LLP
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Adjustments to certain dollar amounts in the Bankruptcy Code may affect your decision and strategy to either file a bankruptcy or in defending certain actions filed against you or your company.

United StatesInsolvency/Bankruptcy/Re-Structuring
Walter Greenhalgh
Walter Greenhalgh
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Adjustments to certain dollar amounts in the Bankruptcy Code may affect your decision and strategy to either file a bankruptcy or in defending certain actions filed against you or your company. The automatic adjustments to the dollar amounts in various provisions of the Bankruptcy Code, 11 U.S.C. 101 et seq. went into effect on April 1, 2013. You may access the official forms by clicking the following link to the United States Courts:

www.uscourts.gov/.../BankruptcyFormsPendingChanges.aspx.

The following highlights some of the noted changes in the Bankruptcy Code:

Small Business Debtor: The Bankruptcy Code permits a person engaged in commercial or business activities (excluding a person whose primary activity is the business of owning or operating real property or activities incidental thereto (that has aggregate non-contingent liquidated secured and unsecured debts as of the filing of a bankruptcy in an amount which has been increased not to exceed $2,490,925.00

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