Amended Rule 2019 Allays Fears of Claims Trading Industry
Dow Jones Daily Bankruptcy Review
6/17/2011
Frank J. Earley, Dominic J. Picca and Paul J. Ricotta
"On April 26, the U.S. Supreme Court approved a significant amendment to Bankruptcy Rule 2019 that clarifies the disclosure required by members of so-called ad hoc committees of creditors, i.e., unofficial groups of creditors, frequently composed of institutional claims traders, who seek to participate in the bankruptcy case through one counsel and act as one entity. Unless Congress enacts legislation to reject, modify or defer the amendment, which is not expected, Amended Rule 2019 will become effective on Dec. 1."
In this article, "Amended Rule 2019 Allays Fears of Claims Trading Industry," published on June 17, 2011 in the Dow Jones Daily Bankruptcy Review, Mintz Levin attorneys Frank J. Earley, Dominic J. Picca and Paul J. Ricotta outline the old Rule 2019 and the recent amendements, while forecasting its positive impact on claims trading.
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