Professor Lois R. Lupica appointed Lead Researcher on National Study of the Consumer Bankruptcy System

Maine Law Foundation Professor Lois R. Lupica in early June was appointed Lead Researcher on a multi-year, multi-district study commissioned by the American Bankruptcy Institute designed to evaluate the cost and effectiveness of the 2005 Amendments to the Consumer Bankruptcy Code. Professor Lupica's study will examine thousands of consumer bankruptcy filings from thirty-three judicial districts in an effort to evaluate and analyze the effects of the 2005 Amendments. Anecdotal evidence has supported the conclusion that the bankruptcy system has become far more expensive and unwieldy for consumers and has adversely impacted creditor recoveries. The data gathered in connection with this study will test these hypotheses and provide insights with respect to the effects of the 2005 legislation on the integrity of the consumer bankruptcy system. Results of the Pilot Study, currently underway, will be reported at the ABI Winter Leadership Conference in December 2009. It is expected that the Final Report will be published and presented, to a wide variety of audiences, in 2011.