Law Commons^™

The Bankruptcy Of Golfers' Warehouse, Inc.: A Lesson In How To Sell A Business In Chapter 11, Briton Collins, Will Smith, David Choi

David Y Choi

No abstract provided.

Bankruptcy Federalism: A Doctrine Askew, Margaret Howard

Lyman P. Q. Johnson

No abstract provided.

The Virtue In Bankruptcy, Matthew Adam Bruckner

Matthew Adam Bruckner

In response to a gap in the corporate bankruptcy literature, this Article offers a new positive theory of corporate bankruptcy law based on virtue ethics. The dominant theory of corporate bankruptcy law—the creditors’ bargain model—is necessarily incomplete because it does not account for bankruptcy courts’ equitable and discretionary powers, or for bankruptcy courts’ need to consider decision-making criteria other than economic efficiency. By contrast, virtue ethics offers insights about these features of corporate bankruptcy law for at least three reasons. First, bankruptcy courts appear to give content to bankruptcy laws by using virtue ethical principles. Second, virtue ethics’ decision-making process—practical …

The Bankruptcy Puzzle, Margaret F. Brinig, F. H. Buckley

Margaret F Brinig

This article offers new evidence on the determinants of U.S. consumer bankruptcy filing rates, which tripled from 1984 to 1991. The run-up in filing rates does not appear to be a consequence of legal changes since the increase coincided with Bankruptcy Code amendments designed to reduce filing rates by rejecting opportunistic petitions. The run-up also coincided with a major economic boom and crested with the 1991 recession. However, much of the variation in district filing rates is attributable to differences in social variables, and we suggest that changes in social norms might account for the increased bankruptcy filings. This article …

Activist Investors, Distressed Companies, And Value Uncertainty, Michelle M. Harner, Jamie Marincic Griffin, Jennifer Ivey-Crickenberger

Michelle M. Harner

Hedge funds, private equity firms, and other alternative investment funds are frequently key players in corporate restructurings. Most commentators agree that the presence of a fund can change the dynamics of a chapter 11 case. They cannot agree, however, on the impact of this change—i.e., do funds create or destroy enterprise value? This essay contributes to the dialogue by analyzing data from chapter 11 cases in which funds are in a position to influence the debtor’s exit strategy. The data shed light on what such funds might achieve in chapter 11 cases and the potential implications for debtors and their …

Suffolk County Resident Arrested For Grand Larceny For Stealing Televisions From Walmart, Shawn R. Kassman

Shawn R Kassman

Man was arrested in Suffolk County in the town of East Setauket and charged with fourth-degree grand larceny. Police said he put 55-inch television in a shopping cart at Walmart in East Setauket and left the store through the garden area.command was probably charged with grand larceny because the item was greater than $1000. If you take an item that is more than thousand dollars you will be charged with grand larceny. Typically if the merchandise is less than $1000 one would be charged with shoplifting also called petit larceny.

f you have New York Criminal Law related questions, please …

What Is A Return -- The Long Slow Fight In The Bankruptcy Courts, T. Keith Fogg

T. Keith Fogg

This article examines what constitutes a return within the context of a bankruptcy for purposes of allowing a taxpayer to discharge the tax debt.

"Shut Up. Pay More. This Is What You Voted For." Why You Don't See Me At San Francisco's Hall Of Justice., David D. Butler

David D. Butler

This 2,285 essay combines California's often violent history with European and American high and low culture to explain my decision to leave San Francisco in the 1970's and to study and practice law in other states. At the time, I was platflorm man (operator) on the 30 Stockton electric trolley through South of Market, the Financial District, Chinatown, Pacific Heights, and the Marina. Nevertheless, at the time the Nation of Islam had at least one armed group, the Zebra killers, murdering Whites, often slowly with machetes. I joined the White, Middle-Class, Taxpaying majority in their diaspora to safer places. My …

Too Complex To Perceive?: Drafting Cash Distribution Waterfalls Directly As Code To Reduce Complexity And Legal Risk In Structured Finance, Master Limited Partnership, And Private Equity Transactions, Ralph Carter Mayrell

Ralph Carter Mayrell

The intricate procedural and data-driven decision trees that play a critical role in complex financial contracts like cash distribution waterfalls in structured finance agreement indentures (e.g., collateralized debt obligations (CDOs)), master limited partnership agreements, and private equity fund agreements are inefficiently depicted as written contracts. As Professor Henry Hu explains in Too Complex to Depict?, the difficulty of translation—or depiction—between original mathematical models, plain English prospectuses, legal contracts, and programmed execution means that often the written depictions that form the basis of disclosures do not accurately define the act of execution. To overcome this, the SEC proposed an amendment to …

Trasformazione In S.A.S., Cessione Della Quota E Fallimento In Estensione Dell'accomandatario, Valerio Sangiovanni

Valerio Sangiovanni

No abstract provided.

Iflas And Chapter 11: Classical Islamic Law And Modern Bankruptcy, Abed Awad, Robert E. Michael

Robert E. Michael

There is no question that the orderly development of Islamic finance will require finding ways to amalgamate the classical Islamic law of bankruptcy with the needs of the modern Islamic finance industry. The unreasonable reliance on ever-expanding opportunities has disappeared along with the global credit markets. It is therefore inescapable that loss scenarios must be dealt with. That in turn means effective bankruptcy laws. We hope this article will help foster the effort.

Hidden In Plain View: The Pension Shield Against Creditors, Patricia E. Dilley

Patricia E Dilley

No abstract provided.

Teaching Business Law Through An Entrepreneurial Lens, Michelle M. Harner

Michelle M. Harner

The legal market has changed. Although change creates uncertainty and fear, it also can create opportunity. This essay explores the opportunity for innovation in the business law curriculum, and the role of simulation to help create more practice-aware new lawyers.

Liquid Assets: A Coasian Economic Analysis Of Oregon's Allocation Of Conserved Water Program, Richard A. Grisel

Richard A Grisel

Diversions for residential, agricultural, recreational, commercial, industrial, and other beneficial uses have had the effect of removing water from rivers and tributaries throughout the western U.S. Another, more recent, competing use is ecological, demonstrated by the legal recognition of instream beneficial uses in some jurisdictions. As awareness of the progressively acute need for reallocation has increased in the arid West, so has interest in water markets and other mechanisms to facilitate transfers across beneficial uses. However, governments and water users face a legacy prior appropriation system that prohibits instream beneficial uses, encourages maximal diversion, stifles water right fungibility, and generally …

Negative Externalities And Subprime Auto Financing: Time To Let The Hanging Paragraph Go(2), Chunlin Leonhard

Chunlin Leonhard

Economists generally agree that when private transactions generate negative externalities (i.e. unintended harmful byproduct), government intervention is potentially necessary. Negative externalities are considered socially inefficient because they destroy market supply and demand equilibrium. The existence of negative externalities is therefore one of those rare occasions when government intervention in private transactions is justified. It follows that when the government does choose to intervene, its goal should be to remedy, not to encourage, negative externalities. This article identifies one bankruptcy rule, commonly known as the Hanging Paragraph in the Bankruptcy Code, 11 U.S.C. § 1325(a)(9), that violates the basic principle of …

Falência De Empresas Coligadas, Jorge Lobo

Rafaela Loureiro Pinheiro Furlan

No abstract provided.

Recuperação Judicial E Trava Bancária, Bruno Meyerhof Salama

Bruno Meyerhof Salama

The Economics And Regulation Of Network Branded Prepaid Cards, Todd J. Zywicki

Todd J. Zywicki

General-purpose reloadable prepaid cards have been one of the fastest-growing sectors of the consumer payments marketplace in recent years. Their importance has accelerated as a consequence of new regulations enacted in the wake of the 2008 financial crisis. This increased use of prepaid cards has also increased angst among regulators, especially regarding the number and size of fees on prepaid cards. State and federal regulators as well as Congress are interested in imposing new regulations on prepaid cards. These calls for regulation, however, have proceeded in a largely fact-free environment. This paper describes the current economic and regulatory landscape for …

Series Llcs: What Happens When One Series Fails? Key Considerations And Issues, Michelle M. Harner, Jennifer Ivey-Crickenberger, Tae Kim

Michelle M. Harner

Entity choice law is constantly evolving and innovating. The series LLC form is one such example. Although the form provides governance and operational flexibility and efficiencies, the law governing the form is still developing. As such, uncertainties linger, particularly in the context of a financially distressed or insolvent series. This article explores many of the issues that arise when a master LLC or one of its series experiences financial distress and contemplates a bankruptcy filing. It also identifies strategies for parties to potentially mitigate certain of these issues in the planning stage. The article concludes by suggesting parties using the …

The Debtor Class, Kara J. Bruce

Kara J. Bruce

In recent years, individuals seeking bankruptcy protection have encountered an unexpected harm: their lenders have misrepresented the amounts they owe, lost or misapplied their loan payments, and violated clear requirements of bankruptcy law and procedure. Recent investigations of consumer bankruptcy cases reveal widespread abuse of the bankruptcy code, ranging from the filing of unsupported or overinflated proofs of claim to violations of the automatic stay and discharge injunction. Such practices undermine consumer bankruptcy’s central goals to provide consumer debtors a fresh financial start and to achieve the fair treatment of and distribution of assets to creditors. Because many debtors affected …

Debarring Faithless Corporate And Religious Fiduciaries In Bankruptcy, Lyman P.Q. Johnson

Lyman P. Q. Johnson

Fiduciary duties for the top governance officials of both business and religious organizations demand faithfulness to the institution’s mission, a seemingly strict demand. Meaningful sanctions for breach, however, are difficult to obtain and may not deter future misconduct, including that kind of conduct leading to organizational bankruptcy. This article advocates that, to attain both special and general deterrence, bankruptcy law should look to other regulatory regimes and permit a bankruptcy court to debar faithless secular and ecclesiastical fiduciaries from holding certain leadership positions. Although written shortly before the 2012 Supreme Court Hosanna-Tabor decision, that opinion – addressing the “ministerial exception” …

Relative Responsibility In Afdc: Problems Raised By The Noleo Approach—“If At First You Don't Succeed . . .”, Margaret Howard

Margaret Howard

No abstract provided.

Bankruptcy Federalism: A Doctrine Askew , Margaret Howard

Margaret Howard

No abstract provided.

Equipment Lessors And Secured Parties In Bankruptcy: An Argument For Coherence, Margaret Howard

Margaret Howard

No abstract provided.

Bankruptcy Bondage, Margaret Howard

Margaret Howard

Initially, it might seem an affront to the history of slavery in this country to suggest that similar concerns are raised by an expectation that debtors pay their debts. Nevertheless, certain aspects of the Bankruptcy Code present genuine constitutional difficulties under the Thirteenth Amendment. These difficulties have been recognized for several decades, albeit as a matter of speculation. Now, however, un- der the 2005 Amendments to the Bankruptcy Code, this issue is no longer speculative. Under the 2005 Amendments, an individual debtor may be put into a chapter 11 proceeding involuntarily, and re- quired to make payments under a plan …

The Law Of Unintended Consequences, Margaret Howard

Margaret Howard

No abstract provided.

Bankruptcy Federalism: A Doctrine Askew, Margaret Howard

Margaret Howard

No abstract provided.

Critical Vendors: Line Breakers Par Excellence, Samuel W. Calhoun

Samuel W. Calhoun

No abstract provided.

An Audit A Day Keeps The Trustee Away: Use Of The Logical Relationship Test In The Medicare Recoupment Context, Adam T. Kahn

Adam T Kahn

Each year, the United States government wastes millions of dollars due to overpayments made to Medicare health care providers (generally hospitals and nursing homes) in bankruptcy. These overpayments stem from the Medicare/Medicaid payment scheme that requires advanced payments to Medicare providers based on estimates of services that will be provided, and adjusts later to account for the actual costs of the services provided. Where the prepaid estimates exceeded actual costs, the United States government—here a creditor—makes necessary annual retroactive adjustments by offsetting future monthly payments to Providers.

If a Medicare provider seeks relief under chapter 11 of the Bankruptcy Code, …

The Public Interest In Judicial Management, Tracey E. Chan

Tracey E Chan

The public interest is a common, but rarely discussed, feature in insolvency processes. It features in both winding up and judicial management in Singapore, with statutory provisions that stipulate the public interest as a ground for invoking these processes. However, it is unclear from the legislative deliberations what specific purpose was envisaged by the public interest exception to the typical requirements for making a judicial management order. This article reviews the concept of the public interest in the context of insolvency law in general, and corporate rescue in particular. In the light of the objectives and principles of insolvency law, …