President Barack Obama on Friday signed into law bipartisan legislation designed to prevent a widespread shortage of bankruptcy judges by extending 29 temporary judgeships, Dow Jones DBR Small Cap reported today. The legislation extends by five years---through May 21, 2017---29 temporary judgeships in Puerto Rico and 14 states, including in California, Delaware, Florida and New York. The cost of extending the judgeships, which the nonpartisan Congressional Budget Office estimated would total $16 million, will be offset by adding a $167 surcharge onto a $1,000 fee tied to chapter 11 filings, according to Sen. Chris Coons (D-Del.), the sponsor of the bill.
