15. Federal bankruptcy law In 2005, Congress passed the Bankruptcy Abuse Prevention and Consumer Protection Act to set a stricter criteria for entities to declare bankruptcy. Consider the following bankruptcy case: Lehman Brothers Holdings Inc. filed a voluntary bankruptcy petition in September 2008 with $639 billion in assets and a total debt of $613 billion. Lehman Brothers' bankruptcy is considered to be one of the largest bankruptcies in U.S. history. Lehman leveraged its investments in the years leading up to its bankruptcy. The bankruptcy courts announced the breakup of Lehman's assets and sold the company's divisions to Barclays and Nomura Holdings Inc. Source: Sam Mamudi, MarketWatch.com. "Lehman Folds with Record $613 Billion Debt." 15 Sept. 2008. . Lehman's breakup and bankruptcy is an example of which of the following bankruptcy laws? Chapter 13 Chapter 11 Florris and Company has been under financial distress for the past three years. The company's creditors take Florris and Company to court and for bankruptcy. The court will consider Florris' filing as bankruptcy. 15. Federal bankruptcy law In 2005, Congress passed the Bankruptcy Abuse Prevention and Consumer Protection Act to set a stricter criteria for entities to declare bankruptcy. Consider the following bankruptcy case: Lehman Brothers Holdings Inc. filed a voluntary bankruptcy petition in September 2008 with $639 billion in assets and a total debt of $613 billion. Lehman Brothers' bankruptcy is considered to be one of the largest bankruptcies in U.S. history. Lehman leveraged its investments in the years leading up to its bankruptcy. The bankruptcy courts announced the breakup of Lehman's assets and sold the company's divisions to Barclays and Nomura Holdings Inc. Source: Sam Mamudi, MarketWatch.com. "Lehman Folds with Record $613 Billion Debt." 15 Sept. 2008. . Lehman's breakup and bankruptcy is an example of which of the following bankruptcy laws? Chapter 13 Chapter 11 Florris and Company has been under financial distress for the past three years. The company's creditors take Florris and Company to court and for bankruptcy. The court will consider Florris' filing as bankruptcy