A reminder that for new cases filed on or after April 1, 2019, dollar amounts in the Bankruptcy Code are increasing. On February 12, 2019 the Judicial Conference of the United States published an official notice announcing the changes to the dollar amounts.
To account for inflation, Section104(a) of Title 11 of the United States Code provides a mechanism for automatic adjustments every three years to the dollar amounts in certain sections of the Bankruptcy Code. These adjustments affect certain sections of both Title 11 and Title 28 by changing the values identified in the Bankruptcy Code relating to statutory minimums for recovery, definitions, exceptions, or exemptions - just to name a few. A full table of the sections affected is provided in the notice in the Federal Register. In addition, seven Official Bankruptcy Forms and Two Director's Forms will be amended to reflect the adjusted dollar amounts.
JDSUPRA Blog Article
Federal Register Listing
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