As bankruptcy practitioners awaited the enactment and effective date of the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (BAPCPA), the multitude of speaking panels, journals and cocktail conversations offering their speculative commentary on the anticipated effects of the amendments to Title 11 paid increased attention to the proposed amendments’ effects on the remedies afforded to creditors under �303 of the Bankruptcy Code — namely the involuntary bankruptcy petition.
While the changes to the text of �303 are minimal, the substantial changes to a debtor’s eligibility requirements along with additional remedies afforded to creditors and trustees with respect to a debtor’s exempt property provoked numerous questions with regard to involuntary bankruptcy petitions under the BAPCPA, and particularly in the context of individual debtors.
