Supreme Court Approves Proposed Amendment to Bankruptcy Rule 2019

29 April 2011
View Client Update

Key takeaways 

  • On April 26, 2011, the Supreme Court of the United States approved an amendment to Rule 2019 of the Federal Rules of Bankruptcy Procedure which is expected to take effect on December 1, 2011 unless Congress makes changes to the amendment. 
  • While generally expanding the scope of Rule 2019 and expressly subjecting ad hoc committees and informal groups of creditors and equity security holders to the rule, the proposed amendment would eliminate controversial disclosure requirements with respect to the price and time of acquisition of any claim or interest.