Rubio, Coons, Stabenow, Nelson Introduce Bipartisan Bill to Improve Bankruptcy Court System “Federal bankruptcy laws make it possible for individuals and businesses to reorganize their debts, but a significant impediment to a well-functioning system has been Congress’ failure to ........
BigNews.Biz - Mar 20,2017 - Rubio, Coons, Stabenow, Nelson Introduce Bipartisan Bill to Improve Bankruptcy Court System
Washington, D.C. – U.S. Senators Marco Rubio (R-FL), Chris Coons (D-DE), Debbie Stabenow (D-MI), and Bill Nelson (D-FL) introduced the Bankruptcy Judgeship Act, legislation that would ensure that individuals and corporations have access to well-functioning bankruptcy courts even when temporary judgeships expire.
“Federal bankruptcy laws make it possible for individuals and businesses to reorganize their debts, but a significant impediment to a well-functioning system has been Congress’ failure to appropriately authorize judgeships as recommended by the nonpartisan Judicial Conference of the United States," said Rubio. "This legislation will implement recommendations from the Judicial Conference that will help ensure more manageable caseloads across the country—including in Florida and Puerto Rico—and ultimately a more efficient system.”
“A functioning bankruptcy court system is essential to our nation’s economy. At a time when both individuals and corporations need to access the resources of bankruptcy courts, Congress must act to extend bankruptcy judgeships in judicial districts where they are most needed,” said Coons. “Talented bankruptcy judges can help turn a likely economic loss into a successful reorganization that protects jobs and creditors. This legislation will ensure that these judgeships remain in place and courts can continue to fairly and expeditiously resolve bankruptcy claims — a key component of our economy as companies and individuals get back on their feet. This bill will ensure that when bankruptcy judges on courts with temporary judgeships retire, their colleagues will not be left with crushing caseloads that restrict timely access to our bankruptcy courts.”