It found that it was not required to decide whether the third element of the Beard test was satisfied because, under the current version of Section 523(a), after amendment by BAPCPA
, in addition to meeting the applicable requirements of nonbankruptcy law to qualify as a return (i.
, bankrupt tenants can assume their leases even if they can not cure all non-monetary defaults and are required to comply with all operating terms again going forward.
If the qualified plan has a favorable IRS determination letter that is in effect as of the date of the filing of the bankruptcy petition, then under BAPCPA
those funds are presumed to be exempt from the estate of the debtor.
exempts from a debtor's bankruptcy estate retirement plan assets held by a Sec.
Dismissals of Chapter 7 cases are governed now, as before the passage of BAPCPA
, by 11 USC section 707.
defines "disposable income as the difference
It is also good news that there is no evidence that any of this is intentional; Congress, for example, surely wrote BAPCPA
thinking it was race-neutral.
To correct this abuse, BAPCPA
amended the Code by requiring that a debtor's income must fall below the median income of their state.
Under Bankruptcy Code Section 511, added by BAPCPA
, if bankruptcy law requires payment of interest on a tax claim, the rate is determined under nonbankruptcy law.
Underlying Policy Behind the BAPCPA
Changes to Domestic Support Obligations
Like PPA, BAPCPA
was enacted shortly before the Great Recession.
entirely defunct, however, because courts construed BAPCPA
to prevent a