bankruptcy law

Overall, does claims trading help or hinder the chapter 11 process? Should additional disclosures be required?  

The Roman Catholic Diocese of Duluth, Minn., filed for bankruptcy Monday after being hit with an $8.4 million verdict in a clergy sex abuse case, Read the Daily Bankruptcy Review story via The Wall Street Journal.  Last month, a jury awarded $8.4 million to a man who says he was sexually abused in the late 1970s by a priest serving in the Diocese of Duluth, which spans 10 counties in northeastern Minnesota.

Several court websites that are portals to bankruptcy court filings were down on Tuesday morning—the first day that bankruptcy lawyers are supposed to file documents using newer forms.

Many court websites were offline for several hours starting on Monday night to upload and test the software with the new bankruptcy forms.

The fresh start of bankruptcy isn’t available to those who have defrauded their creditors, but how do you define fraud?