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Cy Pres Powers Of The Federal Bankruptcy Courts - New Hope For Financially Distressed Charities?, George B. Reese
Cy Pres Powers Of The Federal Bankruptcy Courts - New Hope For Financially Distressed Charities?, George B. Reese
Fordham Urban Law Journal
During times of economic turmoil, certain private charitable institutions operating in urban areas often face financial problems. In the past, these institutions - hospitals, community service centers, and the like - were partially reimbursed by government welfare funds for their "public services" expenditures. But as the pressures on municipal budgets have increased, these reimbursements become delayed, and sometimes uncertain. A charitable corporation contemplating a petition in bankruptcy might wish to seek cy pres relief from the bankruptcy court. Cy pres, a common feature of state law, provides that a gift in trust or otherwise which is determined to have been …
Note: Secured Creditors In Wage Earner Proceedings: Interpreting The Validity Of Bankruptcy Rule 13-307(D), Jane E. Finkel
Note: Secured Creditors In Wage Earner Proceedings: Interpreting The Validity Of Bankruptcy Rule 13-307(D), Jane E. Finkel
Fordham Urban Law Journal
On October 1, 1973 the Supreme Court promulgated rules prescribing the practice and procedure to be followed in cases and proceedings governed by Chapters I-VII and Chapter XIII of the Bankruptcy Act. The procedural changes are extensive, permeating every stage of straight bankruptcy and Chapter XIII Wage Earner proceedings. One of the more important rules is Bankruptcy Rule 13-307(d), which deals with claims of secured creditors in Wage Earner proceedings under Chapter XIII. Secured creditors have challenged the validity of Rule 13-307(d), claiming that the rule modifies the secured party's substantive right to full recovery of the contract price. Thus, …