About: Bankruptcy Act of 1938

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The Bankruptcy Act of 1938, also known as the Chandler Act, expanded voluntary access to the bankruptcy system in the United States and made voluntary petitions more attractive to debtors. It also gave authority to the Securities and Exchange Commission in the administration of bankruptcy filings. One effect was to remove investment banks from control of the corporate reorganization process by eliminating the equity receivership technique. Instead, a trustee was appointed by the bankruptcy court to oversee the reorganization process.

Attributes	Values
rdf:type	yago:Abstraction100002137 yago:CivilLaw108453464 yago:Collection107951464 yago:Group100031264 yago:Law108441203 yago:Legislation106535222
rdfs:label	Bankruptcy Act of 1938 (en)
rdfs:comment	The Bankruptcy Act of 1938, also known as the Chandler Act, expanded voluntary access to the bankruptcy system in the United States and made voluntary petitions more attractive to debtors. It also gave authority to the Securities and Exchange Commission in the administration of bankruptcy filings. One effect was to remove investment banks from control of the corporate reorganization process by eliminating the equity receivership technique. Instead, a trustee was appointed by the bankruptcy court to oversee the reorganization process. (en)
dcterms:subject	75th United States Congress Repealed United States legislation United States bankruptcy legislation 1938 in American law History of bankruptcy law
Wikipage page ID	31523112 (xsd:integer)
Wikipage revision ID	1084647793 (xsd:integer)
Link from a Wikipage to another Wikipage	75th United States Congress Repealed United States legislation Democratic Party (United States) United States Investment bank United States bankruptcy legislation Franklin D. Roosevelt 1938 in American law Walter Chandler Bankruptcy Bankruptcy in the United States History of bankruptcy law Tennessee Securities and Exchange Commission
sameAs	Bankruptcy Act of 1938 Bankruptcy Act of 1938 Bankruptcy Act of 1938
dbp:wikiPageUsesTemplate	dbt:Refimprove dbt:Reflist dbt:USPL dbt:USStat dbt:Infobox_U.S._legislation dbt:USbill dbt:US-fed-statute-stub
effective date	1938-06-22 (xsd:date)
introducedby	Walter Chandler (en)
introducedin	House (en)
shorttitle	Bankruptcy Act of 1938 (en)
signeddate	1938-06-22 (xsd:date)
signedpresident	Franklin D. Roosevelt
enacted by	75 (xsd:integer)
has abstract	The Bankruptcy Act of 1938, also known as the Chandler Act, expanded voluntary access to the bankruptcy system in the United States and made voluntary petitions more attractive to debtors. It also gave authority to the Securities and Exchange Commission in the administration of bankruptcy filings. One effect was to remove investment banks from control of the corporate reorganization process by eliminating the equity receivership technique. Instead, a trustee was appointed by the bankruptcy court to oversee the reorganization process. The Bankruptcy Act, though now superseded by the Bankruptcy Code, remains an important interpretive tool for current bankruptcy law. Several United States Supreme Court decisions have interpreted the Bankruptcy Code by looking back to the history of the Chandler Act. Some of the most notable decisions include: * United States v. Whiting Pools, Inc., 462 U.S. 198 (1983), which justified the practice of requiring the IRS to return a bankrupt company's property under the Bankruptcy Code by reference to previous practice under the Bankruptcy Act. The Court wrote that Congress must have been aware of this previous practice and decided not to change it when it passed the Bankruptcy Code. * Johnson v. Home State Bank, 501 U.S. 78 (1991), in which the Court looked to the legislative history and precedent of the Bankruptcy Act to interpret the term "claim" in the Bankruptcy Code. * Fidelity Financial Services, Inc. v. Fink, 522 U.S. 211 (1998), in which the Court considered Bankruptcy Act's rules about and precedent interpreting avoidable preferences to resolve a similar question under the Bankruptcy Code. * Cohen v. de la Cruz, 523 U.S. 213 (1998), in which the court relied on practice under the Bankruptcy Acts to interpret the non-dischargeability provisions of the Bankruptcy Code. The practice of using the Bankruptcy Act to interpret the Bankruptcy Code has been criticized by some bankruptcy scholars. They claim that this interpretive tool leads to unpredictable results, may ignore the intent of Congress, and confuses lower courts interpreting Supreme Court decisions. (en)
longtitle	0001-07-01 (xsd:gMonthDay)
othershorttitles	(en) Bankruptcy Act of 1898 Amendments (en) Bankruptcy Revision of 1938 (en) Chandler Act (en) Chandler Act of 1938 (en)
prov:wasDerivedFrom	wikipedia-en:Bankruptcy_Act_of_1938?oldid=1084647793&ns=0
page length (characters) of wiki page	6339 (xsd:nonNegativeInteger)
foaf:isPrimaryTopicOf	wikipedia-en:Bankruptcy_Act_of_1938
is Link from a Wikipage to another Wikipage of	List of United States federal legislation, 1901–2001 Fraudulent Conveyances Act 1571 Bankruptcy Act of 1898 June 1938 Erie Lackawanna Railway Bankruptcy Act History of bankruptcy law in the United States History of investment banking in the United States Chandler Act Phillip Musica
is Wikipage redirect of	Chandler Act
is foaf:primaryTopic of	wikipedia-en:Bankruptcy_Act_of_1938

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