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On April 20, 2005 the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 was signed into law, making the most significant changes to the Bankruptcy Code in over 25 years. Unfortunately, the hastily drafted legislation contained many errors that could not be addressed in the normal drafting process. Over the last several months, Peter Califano has chaired a legislative Task Force on behalf of the Commercial Law League to address these problems in advance of the Act’s upcoming effective date (October 17, 2005). The Task Force has recently submitted a technical corrections paper to Congress suggesting critical changes to the Code to address these problems and the paper has been distributed to various bankruptcy judges, academics and practitioners throughout the country.

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