Glossary of Bankruptcy

BANKRUPTCY REFORM ACT OF 1978

Bankruptcy Reform Act of 1978: translation

Bankruptcy Reform Act of 1978
the first substantive bankruptcy code revision since the Chandler Act of 1938. It took effect on October 1, 1979 and some of the major elements of this act were as follows: upgrading the jurisdiction of the U.S. bankruptcy courts to deal with cases handled by other courts (subsequently modified); allowing the filing of a single joint petition of bankruptcy by husband and wife; reorganizing the Chapters of bankruptcy; in particular, concerning business reorganization, Chapters X, XI and XII of the old code are replaced by Chapter 11; expanding the number of people eligible and the type of relief available to people in a new Chapter 13, wage-earner reorganization bankruptcy; altering the appellate procedure allowing direct appeal to the U.S. courts of appeal (subsequently modified); and generally, making federal exemption provisions and options for debtors more extensive (Glossary of Common Bankruptcy Terms)

United Glossary of Bankruptcy Terms2012.


  1. bankruptcy reform act of 1978—док. эк. юр. амер. закон О реформе в области законодательства о банкротстве г.u вступил в силу октября г. уточнил вопросы юрисдикции американских судов при рассмотрени...Англо-русский экономический словарь