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Eighth Circuit Loosens The Grip Of The Bankruptcy Gag Rule, But Holds Attorneys To Advertising Disclosure Requirement, The, Bethany R. Findley
Eighth Circuit Loosens The Grip Of The Bankruptcy Gag Rule, But Holds Attorneys To Advertising Disclosure Requirement, The, Bethany R. Findley
Missouri Law Review
The Court of Appeals for the Eighth Circuit, in a case of first impression, struck down a provision of the 2005 bankruptcy reform law that prohibits attorneys from advising their clients to incur more debt in contemplation of filing for bankruptcy. At the same time, the court upheld a provision of the Bankruptcy Code that compels attorneys to include a specified disclosure within their bankruptcy-related advertisements. The court's rationale for striking down the Code's restriction on attorney advice was that its broad application restricted attorneys from rendering advice that in some situations would be entirely lawful and beneficial to their …