Bankruptcy Basics for New and Non-Bankruptcy Attorneys
This blog entry will be the first in a new, ongoing series of entries in the “Bankruptcy Protector†that will attempt to familiarize new attorneys and non-bankruptcy practitioners with the basic concepts of bankruptcy law of which all lawyers should be aware. The goal of this series is to present these foundational bankruptcy topics from a 50,000 foot view to orient the reader with the concepts in a simple, straight-forward manner so that the reader can provide a summary of the issue to any client or colleague, without necessarily diving headfirst into the Bankruptcy Code or the mountains of case law parsing out the intricacies of each concept. The first topic that will be covered in this entry is one of, if not the, most critical aspects of bankruptcy law: the “Automatic Stay.â€