Congress made changes to the bankruptcy code that took effect in October 2005. Here's a brief review of the key changes with their potential consequences for wholesaler-distributors.
Bankruptcy has been big news over the past year or so. In addition to some high-profile bankruptcies'including Delta Airlines, Northwest Airlines, and auto components giant Delphi'a couple of good-sized electrical contractors have filed as well, proving a source of pain for more than a few electrical distributors. Also in the news was the Congressional battle over bankruptcy revision, and in October 2005 the changes from that revision took effect.
With the new rules in place, bankruptcies certainly aren't going to go away, making this a good time to take a hard look ...
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Congress made changes to the bankruptcy code that took effect in October 2005. Here's a brief review of the key changes with their potential consequences for wholesaler-distributors.
Bankruptcy has been big news over the past year or so. In addition to some high-profile bankruptcies'including Delta Airlines, Northwest Airlines, and auto components giant Delphi'a couple of good-sized electrical contractors have filed as well, proving a source of pain for more than a few electrical distributors. Also in the news was the Congressional battle over bankruptcy revision, and in October 2005 the changes from that revision took effect.
With the new rules in place, bankruptcies certainly aren't going to go away, making this a good time to take a hard look ...
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