21 Sep New Bankruptcy Law: Time Deadlines
New bankruptcy time deadlines take effect December 1, 2009. Time will now be computed in multiples of 7. This change will minimize situations where deadlines come due on weekends.
Bankruptcy has many different deadlines based on multiples of 5 – 5 days to submit documents, 10 days to appeal, 15 days to file pleadings, 20 or 25 days to object. Periods shorter than 30 days are going to the new 7 day system. 5 day deadlines become 7 days. 10 and 15 day deadlines go to 14 days. 20 day deadlines become 21 and 25 days periods go to 28 days.
Weekends and holidays are counted as any other calendar day. When a court issued an order to requiring certain action within 10 days, that order would fall due on a weekend if it was issued on a Wednesday or a Thursday. 10 days later would be Saturday or Sunday, respectively.
With the new law change, 7, 14, 21 or 28 day deadlines will always be due by the same day of the week as the day the original order is issued. As court is closed on weekends, the 7 day system will reduce much of the confusion that surrounds weekend deadlines.
The new law is called the Statutory Time Period Technical Amendments Act of 2009 and it changes the time period of nine sections of the Bankruptcy Code.
Andy Miofsky, Esq.
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