Law Commons^™

The Dischargeability Of Environmental Claims In Bankruptcy: Resolution To Diametrically Opposed Goals, Jason V. Stitt

Journal of Natural Resources & Environmental Law

No abstract provided.

Abandonment Of Contaminated Property Under The Bankruptcy Code--From Midlantic To In Re Smith Douglas, What Next?, Brian Cumbo

Journal of Natural Resources & Environmental Law

No abstract provided.

United States V. Whizco: Are Smcra Obligations Dischargeable Under The Bankruptcy Code?, Alfred L. Buchanan

Journal of Natural Resources & Environmental Law

No abstract provided.

Midlantic National Bank V. New Jersey Department Of Environmental Resources: Judicial Interpretation Or Judicial Legislation?, John Bell Whitesell

Journal of Natural Resources & Environmental Law

No abstract provided.

Is The Abandoned Mine Reclamation Fee Discharged In Bankruptcy?, Ann M. Catino

Journal of Natural Resources & Environmental Law

No abstract provided.

The New Small Business Bankruptcy Game: Strategies For Creditors Under The Small Business Reorganization Act, Christopher G. Bradley

Law Faculty Scholarly Articles

Most unsecured creditors have little incentive to act energetically in bankruptcy proceedings. They are unlikely to be paid enough to make it worth the effort. Our bankruptcy law allocates much more power to debtors and to secured claimants. This Article suggests that the Act further erodes the position of most unsecured creditors. Their expected recoveries will remain too low to justify anything other than a relatively passive attitude toward the bankruptcy proceeding, and the Act lowers the protections for passive creditors.

Part I provides an overview of the major features of the Act. It explains how a subchapter V case …

Pragmatism Vs. Principle: Bankruptcy Appeals And Equitable Mootness, Christopher W. Frost

Law Faculty Scholarly Articles

Bankruptcy reorganizations are often thought to present unique problems requiring specialized doctrines. Equitable mootness is one such doctrine. This judge-made prudential limitation on appeal rights permits reviewing courts to dismiss otherwise justiciable appeals of bankruptcy court confirmations of reorganization plans. It applies where granting relief would disrupt the implementation of the plan or would harm reliance interests of parties affected by the plan.

Chapter 11 reorganizations present complex multilateral negotiation problems. The bankruptcy represents a general default, pitting stakeholder against stakeholder in conflicts that require a global settlement. The plan of reorganization provides that global settlement through an interconnected web …

Secured Credit And Effective Entity Priority, Christopher W. Frost

Law Faculty Scholarly Articles

The historical and doctrinal development of secured transactions and bankruptcy law has created a priority system that is asset based. Secured creditor priority is tied to the value of specific assets that constitute the secured creditor’s collateral and not to the value of the debtor itself. And yet, in corporate bankruptcy cases, lenders and their attorneys often assert broad claims to the entire enterprise value of the entity—that is, to the present value of the cash flows that the entity will generate as a going concern. The doctrinal basis for such claims is often unstated, however, and several commentators have …

Predictors Of Municipal Bankruptcies And State Intervention Programs: An Exploratory Study, Laura N. Coordes, Thom Reilly

Kentucky Law Journal

Why do some struggling cities file for bankruptcy while others, facing simiar circumstances, do not? This Article builds on the literature examining the causes and consequences ofmunicipal fiscal distress by exploring specific factors that lead municipalities to seek help from the state and federal government. Viewing municipal opportunities and constraints through political, economic, and legal lenses, this Article helps to explain the nuances ofmunicival decision making.

After identifiing eight factors that may serve as predctors of municipal insolvency, the authors studied cities in Fiscal distress with an eye toward uncovering the circumstances that led each of these cities into and—if …

Art & The “Public Trust” In Municipal Bankruptcy, Brian L. Frye

Law Faculty Scholarly Articles

In 2013, the City of Detroit filed the largest municipal bankruptcy action in United States history, affecting about $20 billion in municipal debt. Unusually, Detroit owned its municipal art museum, the Detroit Institute of Arts (“DIA”) and all of the works of art in the DIA collection, which were potentially worth billions of dollars. Detroit’s creditors wanted Detroit to sell the DIA art in order to satisfy its debts. Key to the confirmation of Detroit’s plan of adjustment was the DIA settlement, under which Detroit agreed to sell the DIA art to the DIA corporation in exchange for $816 million …

A Missing Piece: The Importance Of Control Over An Undue Hardship In A Request To Discharge Student Loans Through Bankruptcy, Megan E. Niespodziany

Kentucky Law Journal

No abstract provided.

Who Gets Paid? Section 365(N) Royalty Payments Under "Zombie Licenses" After A Sale Of Ip, Christopher G. Bradley

Law Faculty Popular Media

This short article discusses the Bankruptcy Code's unusual treatment of certain intellectual property licenses. First, it gives a brief overview of § 365(n) of the Bankruptcy Code. It then provides a short analysis of a difficult but important question: If a licensee of a debtor’s intellectual property opts to retain its license rights under § 365(n), who should receive the stream of licensing payments in the event that the IP is sold: the buyer of the IP, or the debtor in bankruptcy? The answer that has emerged in some of the case law is somewhat surprising -- after providing nuanced …

Bankruptcy Voting And The Designation Power, Christopher W. Frost

Law Faculty Scholarly Articles

Chapter 11 of the Bankruptcy Code is the only form of bankruptcy that requires winning the consent of the creditor body. Creditors are given the right to vote based on an underlying assumption that they will cast their votes to maximize recovery on their claims. When creditors collectively vote to further these distributional goals, then the estate in turn should realize the maximum value for its assets. "Value maximization" is one of the fundamental goals of chapter 11, and voting in bankruptcy is an important way of achieving that goal.

The problem with these assumptions is that creditors sometimes vote …

A Reappraisal Of Attorneys' Fees In Bankruptcy, Michelle Arnopol Cecil

Kentucky Law Journal

No abstract provided.

Widespread Panic: Why The Mortgage Lending Industry Can Calm Down About Amending Cramdown, David T. Newton

Kentucky Law Journal

No abstract provided.

Managers’ Fiduciary Duties In Financially Distressed Corporations: Chaos In Delaware (And Elsewhere), Rutheford B. Campbell Jr., Christopher W. Frost

Law Faculty Scholarly Articles

The inherent conflict between creditors and shareholders has long occupied courts and commentators interested in corporate governance. Creditors holding fixed claims to the corporation's assets generally prefer corporate decision making that minimizes the risk of firm failure. Shareholders, in contrast, have a greater appetite for risk, because, as residual owners, they reap the rewards of firm success while sharing the risk of loss with creditors.

Traditionally, this conflict is mediated by a governance structure that imposes a fiduciary duty on the corporation's managers-its officers and directors-to maximize the value of the shareholders' interests in the firm. In this traditional view, …

Practicing Under The New Bankruptcy Code: A Nuts & Bolts Workshop, Office Of Continuing Legal Education At The University Of Kentucky College Of Law

Continuing Legal Education Materials

Materials from Practicing Under the New Bankruptcy Code: A Nuts & Bolts Workshop (The Bankruptcy Abuse Prevention and Consumer Protection Act of 2005) held by UK/CLE in September 2005.

12th Biennial Judge Joe Lee Bankruptcy Institute, Office Of Continuing Legal Education At The University Of Kentucky College Of Law

Continuing Legal Education Materials

Materials from the 12th Biennial Judge Joe Lee Bankruptcy Institute held May 2005.

The "New And Improved" Chapter 11, Stephen J. Lubben

Kentucky Law Journal

No abstract provided.

Not-So-Critical Vendors: Redefining Critical Vendor Orders, Christopher D. Hunt

Kentucky Law Journal

No abstract provided.

Mayday, Mayday!: How The Current Bankruptcy Code Fails To Protect The Pensions Of Employees, Amy Lassiter

Kentucky Law Journal

No abstract provided.

19th Annual Environmental Law Institute, Office Of Continuing Legal Education At The University Of Kentucky College Of Law

Continuing Legal Education Materials

Materials from the 19th Annual Environmental Law Institute held by UK/CLE in November 2003.

11th Biennial Judge Joe Lee Bankruptcy Institute, Office Of Continuing Legal Education At The University Of Kentucky College Of Law

Continuing Legal Education Materials

Materials from the 11th Biennial Judge Joe Lee Bankruptcy Institute held May 2003.

Closing A Bankruptcy Loop-Hole Or Impairing A Debtor's Fresh Start? Sarbanes-Oxley Creates A New Exception To Discharge, Lucian Murley

Kentucky Law Journal

No abstract provided.

Bankruptcy Electronic Case Filing Workshop, Office Of Continuing Legal Education At The University Of Kentucky College Of Law

Continuing Legal Education Materials

Materials from the Bankruptcy Electronic Case Filing Workshop (C.M./E.C.F.: Case Management/Electronic Case Filing) held by UK/CLE in 2002.

10th Biennial Judge Joe Lee Bankruptcy, Office Of Continuing Legal Education At The University Of Kentucky College Of Law

Continuing Legal Education Materials

Materials from the 10th Biennial Judge Joe Lee Bankruptcy Institute held December 2001.

21st Annual Conference On Legal Issues For Financial Institutions, Office Of Continuing Legal Education At The University Of Kentucky College Of Law

Continuing Legal Education Materials

Materials from the 21st Annual Conference on Legal Issues For Financial Institutions held by UK/CLE in April of 2001.

Consumer Bankruptcy Update, Office Of Continuing Legal Education At The University Of Kentucky College Of Law, Sandra D. Freeburger, Thomas L. Canary, Ann E. Samani, W. Thomas Bunch, David M. Cantor, Jan C. Morris, Beverly M. Burden, William W. Lawrence, Lisa Koch Bryant, Dean A. Langdon, Joan Lloyd Cooper, Henry H. Dickinson, William S. Howard, Joseph M. Scott Jr., Joe Lee, C.R. Bowles Jr., Alan C. Stout, James D. Lyon, Sandra D. Freeburger, Geneva F. Parris, Joseph J. Golden, John R. Stonitsch, Hal D. Friedman, Gregory R. Schaaf, Richard H. Nowka, Christopher W. Frost, Scott A. Bachert, Michael L. Baker, Cathy S. Pike

Continuing Legal Education Materials

Materials from the Consumer Bankruptcy Update presentations held by UK/CLE in December 2000.

Bank Of America V. 203 North Lasalle Street Partnership: Cram Down Without Debtor Exclusivity--Good Or Bad For The Creditor?, Ann E. Nolan

Kentucky Law Journal

No abstract provided.

9th Biennial Judge Joe Lee Bankruptcy Institute, Office Of Continuing Legal Education At The University Of Kentucky College Of Law, David G. Epstein, Kenneth N. Klee, Paul H. Asofsky, Beverly M. Burden, Lawrence P. King, Charles P. Normandin, John J. Jerome, Taft A. Mckinstry, Joan Lloyd Cooper, G. Ray Warner, Gerald K. Smith

Continuing Legal Education Materials

Materials from the 9th Biennial Judge Joe Lee Bankruptcy Institute held December 1999.