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Full-Text Articles in Law
Through The Lens Of Innovation, Mirit Eyal-Cohen
Through The Lens Of Innovation, Mirit Eyal-Cohen
Mirit Eyal-Cohen
The legal system constantly follows the footsteps of innovation and attempts to discourage its migration overseas. Yet, present legal rules that inform and explain entrepreneurial circumstances lack a core understanding of the concept of innovation. By its nature, law imposes order. It provides rules, remedies, and classifications that direct behavior in a consistent manner. Innovation turns on the contrary. It entails making creative judgments about the unknown. It involves adapting to disarray. It thrives on deviations as opposed to traditional causation. This Article argues that these differences matter. It demonstrates that current laws lock entrepreneurs into inefficient legal routes. Using …
Negative Externalities And Subprime Auto Financing: Time To Let The Hanging Paragraph Go(2), Chunlin Leonhard
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 …
What Determines Professionals’ Bankruptcy Fees: An Empirical Investigation, Gijs Van Dijk, Martin Gramatikov
What Determines Professionals’ Bankruptcy Fees: An Empirical Investigation, Gijs Van Dijk, Martin Gramatikov
Martin Gramatikov
Countries have adopted different approaches to compensate bankruptcy trustees for winding up the estate. The approaches vary from state trustees to funding mechanisms where bankruptcy trustees receive a fixed fee, to a system where their fees depend on the size of the assets. Few studies have addressed the cost-effectiveness of the different approaches. This study contributes to this topic by examining the fees of the winding up, including an analysis of the determinants of these fees. After analyzing 289 Dutch bankruptcies consisting of short-term and medium-term cases, we find substantial differences in the mean hourly remuneration fees of bankruptcy trustees. …
The Failure Of Adversary Process In The Administrative State, Bryan T. Camp
The Failure Of Adversary Process In The Administrative State, Bryan T. Camp
Bryan T Camp
In a series of hearings in 1997 and 1998, Congress heard allegations that the Internal Revenue Service (“IRS” or “Service”) was abusing taxpayers during the process of collecting taxes. The resulting distrust of the tax bureaucracy led Congress to create a special adversary proceeding providing for judicial review of IRS collection decisions. The proceeding is beguilingly titled “Collection Due Process” (and commonly referred to as “CDP”). My study of CDP’s structure, operation, and of 976 court decisions issued through the end of 2006 demonstrates that it has failed to fulfill its promise. Of the over 15 million collection decisions made …