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Bankruptcy Law

2003

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Full-Text Articles in Law

Valuation Averaging: A New Procedure For Resolving Valuation Disputes, Keith Sharfman Dec 2003

Valuation Averaging: A New Procedure For Resolving Valuation Disputes, Keith Sharfman

Rutgers Law School (Newark) Faculty Papers

In this Article, Professor Sharfman addresses the problem of "discretionary valuation": that courts resolve valuation disputes arbitrarily and unpredictably, thus harming litigants and society. As a solution, he proposes the enactment of "valuation averaging," a new procedure for resolving valuation disputes modeled on the algorithmic valuation processes often agreed to by sophisticated private firms in advance of any dispute. He argues that by replacing the discretion of judges and juries with a mechanical valuation process, valuation averaging would cause litigants to introduce more plausible and conciliatory valuations into evidence and thereby reduce the cost of valuation litigation and increase the …


19th Annual Environmental Law Institute, Office Of Continuing Legal Education At The University Of Kentucky College Of Law Nov 2003

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.


The Control Of Wealth In Bankruptcy, Jay L. Westbrook Oct 2003

The Control Of Wealth In Bankruptcy, Jay L. Westbrook

ExpressO

No abstract provided.


The Logical Structure Of Fraudulent Transfers And Equitable Subordination, David G. Carlson Oct 2003

The Logical Structure Of Fraudulent Transfers And Equitable Subordination, David G. Carlson

Articles

No abstract provided.


A Clash Of Expectations: Debtors' Disclaimers Of Property In Advance Of Bankruptcy, Kevin A. White Jun 2003

A Clash Of Expectations: Debtors' Disclaimers Of Property In Advance Of Bankruptcy, Kevin A. White

Washington and Lee Law Review

No abstract provided.


Presenter, "An Examination Of Changing Roles And Relationships Of Lawyers In Silicon Valley," University Of Southern California And Georgetown Interdisciplinary Law And Humanities Junior Scholar Workshop , Los Angeles, Bruce Price May 2003

Presenter, "An Examination Of Changing Roles And Relationships Of Lawyers In Silicon Valley," University Of Southern California And Georgetown Interdisciplinary Law And Humanities Junior Scholar Workshop , Los Angeles, Bruce Price

Bruce M Price

No abstract provided.


Presenter, "New Institutions Of The Knowledge Economy: The Silicon Valley Case," Social Science Research Council Program On Corporation As A Social Institution, Berkeley, Bruce Price May 2003

Presenter, "New Institutions Of The Knowledge Economy: The Silicon Valley Case," Social Science Research Council Program On Corporation As A Social Institution, Berkeley, Bruce Price

Bruce M Price

No abstract provided.


Eat My Dirt! Dirt-For-Debt Swaps Under 11 U.S.C. §1129(B)(2)(A)(Iii), Daniel Austin May 2003

Eat My Dirt! Dirt-For-Debt Swaps Under 11 U.S.C. §1129(B)(2)(A)(Iii), Daniel Austin

Daniel A. Austin

No abstract provided.


Why Do Distressed Companies Choose Delaware? An Empirical Analysis Of Venue Choice In Bankruptcy , Kenneth M. Ayotte, David A. Skeel Jr. May 2003

Why Do Distressed Companies Choose Delaware? An Empirical Analysis Of Venue Choice In Bankruptcy , Kenneth M. Ayotte, David A. Skeel Jr.

All Faculty Scholarship

We analyze a sample of large Chapter 11 cases to determine which factors motivate the choice of filing in one court over another when a choice is available. We focus in particular on the Delaware court, which became the most popular venue for large corporations in the 1990s. We find no evidence of agency problems governing the venue choice or affecting the outcome of the bankruptcy process. Instead, firm characteristics and court characteristics, particularly a court's level of experience, are the most important factors. We find that court experience manifests itself in both a greater ability to reorganize marginal firms …


The Past, Present, And Future Of Bankruptcy Law In America, Todd J. Zywicki May 2003

The Past, Present, And Future Of Bankruptcy Law In America, Todd J. Zywicki

Michigan Law Review

As this Review was being written, Congress once again failed to pass the bipartisan bankruptcy-reform bill, although many expect it to be enacted at some point in the near future. At the same time, WorldCom, Enron, Global Crossing, and their ignominous peers continue to set records for the size, expense, and public attention drawn to business bankruptcy. For the first time, consumer bankruptcies surpassed the 1.5 million per year mark, continuing an irresistible upward trend. Meanwhile, law firms announce layoffs and salary freezes in most departments, and bankruptcy professionals prosper amidst the despair, billing $1 million per day on the …


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


Enron At The Margin, William H. Widen May 2003

Enron At The Margin, William H. Widen

Articles

No abstract provided.


Approving Employee Retention And Severance Programs Judicial Discretion Run Amuck, A. Mechele Dickerson Apr 2003

Approving Employee Retention And Severance Programs Judicial Discretion Run Amuck, A. Mechele Dickerson

Faculty Publications

No abstract provided.


Behavioral Approach To Analyzing Corporate Failures, A. Mechele Dickerson Apr 2003

Behavioral Approach To Analyzing Corporate Failures, A. Mechele Dickerson

Faculty Publications

Recent corporate failures indicate that existing laws fail to give boards of directors adequate incentives to acknowledge that some financially troubled firms simply cannot be salvaged. Relying primarily on insights from law and behavioral science literature, this Article notes that directors have a natural tendency to underestimate risks and overestimate their ability to save an insolvent or near insolvent firm. This Article urges the imposition of a duty to file a timely bankruptcy petition because such a duty will encourage directors to consider the interests of all the firms' constituents, including workers, creditors, and the local community, when making decisions …


Creditors' Ball: The "New" New Corporate Governance In Chapter 11, David A. Skeel Jr. Mar 2003

Creditors' Ball: The "New" New Corporate Governance In Chapter 11, David A. Skeel Jr.

All Faculty Scholarship

In the 1980s and early 1990s, many observers believed that the American corporate bankruptcy laws were desperately inefficient. The managers of the debtor stayed in control as "debtor in possession" after filing for bankruptcy, and they had the exclusive right to propose a reorganization plan for at least the first four months of the case, and often far longer. The result was lengthy cases, deteriorating value and numerous academic proposals to replace Chapter 11 with an alternative regime. In the early years of the new millennium, bankruptcy could not look more different. Cases proceed much more quickly, and they are …


Muddy Property: Generating And Protecting Information Privacy Norms In Bankruptcy, Edward J. Janger Mar 2003

Muddy Property: Generating And Protecting Information Privacy Norms In Bankruptcy, Edward J. Janger

Faculty Scholarship

No abstract provided.


Muddy Property: Generating And Protecting Information Privacy Norms In Bankruptcy, Edward J. Janger Mar 2003

Muddy Property: Generating And Protecting Information Privacy Norms In Bankruptcy, Edward J. Janger

Faculty Scholarship

No abstract provided.


Muddy Property: Generating And Protecting Information Privacy Norms In Bankruptcy, Edward J. Janger Mar 2003

Muddy Property: Generating And Protecting Information Privacy Norms In Bankruptcy, Edward J. Janger

William & Mary Law Review

Bankruptcy law does not deal well with website promises to protect personal information. The legal treatment of privacy policies in bankruptcy currently turns on whether such policies are viewed as creating contract rights or property rights. Neither characterization fits well, and any attempt to shoehorn information privacy into either category has significant costs. Contract obligations are subject to discharge in bankruptcy, and any consumer expectations of privacy (contractual or otherwise) are likely to be defeated. By contrast, if personal information is deemed property of the website customer, information transfers that might benefit consumers will be stifled. This Article develops an …


Payment Of Pre-Petition And Post-Petition Employee Severance Benefits, Daniel Austin Feb 2003

Payment Of Pre-Petition And Post-Petition Employee Severance Benefits, Daniel Austin

Daniel A. Austin

This article examines whether severance benefits promised to employees pre-petition may be paid after the employer has filed a chapter 11 bankruptcy petition. The answer depends on whether the severance benefits were payable based on length of service or in a single lump-sum payment, and whether the debtor is in a majority-or-minority-rule jurisdiction. For most debtors, pre-petition lump-sum severance benefits are not payable as an administrative expense. Severance benefits based on length of service must be allocated between pre- and post-petition service. This article does not deal with benefits provided under a collective bargaining agreement, which are governed under Section …


Manual De Derecho Procesal Civil, Edward Ivan Cueva Feb 2003

Manual De Derecho Procesal Civil, Edward Ivan Cueva

Edward Ivan Cueva

No abstract provided.


The Implied Waiver Solution To The Problem Of Privilege In The Individual Bankruptcy Case, Laura B. Bartell Jan 2003

The Implied Waiver Solution To The Problem Of Privilege In The Individual Bankruptcy Case, Laura B. Bartell

Law Faculty Research Publications

No abstract provided.


Revisting Ex Parte James, Tracey E. Chan Jan 2003

Revisting Ex Parte James, Tracey E. Chan

Tracey E Chan

There has been much judicial and academic debate over the proper scope of and rationale nderlying the principle in ex parte James, and in particular its conferral of de facto insolvency priority on the successful claimant. This article attempts to review the principle’s operation in the context of the function and principles of insolvency law, determine the actual role that it plays in dealing with post-insolvency claims and accordingly identify the justifications that can be offered for this role. It argues that the principle is better seen as an application of the liquidation expenses principle or the fair treatment of …


Two Conceptions Of Relevance, Jonathan Yovel Jan 2003

Two Conceptions Of Relevance, Jonathan Yovel

Jonathan Yovel

Courts use complex modes of relevance judgments in regulating the introduction of information and construction of factual narratives; likewise, common law works both through and around relevance presuppositions in determining doctrine. This study examines different functions of relevance - conceived as different conceptions, at times competing, at times interdependent. The distinctions between these conceptions are arranged on three levels: 1) a normative/"causal" level, arguing for the status of relevance as a requirement for a "meaning-based" conception of entailment and drawing on discussions from relevance logic (RL) and modal logic; 2) a pragmatic/metapragmatic level that explores the ways in which law's …


Making Sense Of Successor Liability, Marie T. Reilly Jan 2003

Making Sense Of Successor Liability, Marie T. Reilly

Journal Articles

A firm that buys assets from another firm ordinarily does not acquire liability to the seller's creditors simply by buying its assets. This ordinary rule is subject to important exceptions. The buyer's consent triggers an exception. If a buyer agrees to assume the seller's liability to third parties, it is for that reason liable. This article considers a more controversial exception - successor liability. When a court decides that an asset acquirer should be treated as a "successor" to the transferor, it is liable for the transferor's debts as though it were the transferor.


Mercy, Rehabilitation, And Quid Pro Quo: A Radical Reassessment Of Individual Bankruptcy, 64 Ohio St. L.J. 855 (2003), Jason Kilborn Jan 2003

Mercy, Rehabilitation, And Quid Pro Quo: A Radical Reassessment Of Individual Bankruptcy, 64 Ohio St. L.J. 855 (2003), Jason Kilborn

UIC Law Open Access Faculty Scholarship

Chapter 7 "straight" bankruptcy discharge is a radical policy that has outlived its usefulness. This policy grants most individual debtors complete discharge of indebtedness from their creditors for little more than a filing fee. This article argues that straight bankruptcy should be abolished. In its place, individuals seeking debt relief should be required by statute to participate in a wage assignment plan for a limited period. In support of this argument the article challenges the three rationales for the validity of straight bankruptcy discharge: (1) the creditor-protection or "collection" rationale,; (2) the "mercy" rationale; and (3) the "rehabilitation" rationale. When …


Navigating The Bankruptcy Waters In A Domain Name Rowboat, 3 J. Marshall Rev. Intell. Prop. L. 61 (2003), Beverly A. Berneman Jan 2003

Navigating The Bankruptcy Waters In A Domain Name Rowboat, 3 J. Marshall Rev. Intell. Prop. L. 61 (2003), Beverly A. Berneman

UIC Review of Intellectual Property Law

The combination of rapidly emerging technologies and changes in intellectual property and information technology law has resulted in new species of property and contract rights, such as Internet domain names. While some laws that were enacted before the rise of the Internet cannot be reconciled with the issues raised by domain names, the Bankruptcy Code appears to be equipped with the tools to handle most issues raised by this new species of property. This article discusses how domain names are treated during bankruptcy, how the Bankruptcy Code can be used to protect the function and value of a debtor's domain …


The Search For More Fairness In The Fair Debt Collection Practices Act, Elwin Griffith Jan 2003

The Search For More Fairness In The Fair Debt Collection Practices Act, Elwin Griffith

University of Richmond Law Review

No abstract provided.


A Day In The Life Of A Residential Mortgage Defendant, 36 J. Marshall L. Rev. 687 (2003), Harold L. Levine Jan 2003

A Day In The Life Of A Residential Mortgage Defendant, 36 J. Marshall L. Rev. 687 (2003), Harold L. Levine

UIC Law Review

No abstract provided.


Impossible, Impracticable, Or Just Expensive? Allocation Of Expense Of Ancillary Risk In The Cmbs Market, 36 J. Marshall L. Rev. 653 (2003), Georgette Chapman Poindexter Jan 2003

Impossible, Impracticable, Or Just Expensive? Allocation Of Expense Of Ancillary Risk In The Cmbs Market, 36 J. Marshall L. Rev. 653 (2003), Georgette Chapman Poindexter

UIC Law Review

No abstract provided.


Researching Bankruptcy Law On The Internet, Timothy L. Coggins Jan 2003

Researching Bankruptcy Law On The Internet, Timothy L. Coggins

Law Faculty Publications

Attorneys researching bankruptcy law use a diverse collection of print resources to locate bankruptcy primary and secondary sources. Bankruptcy code provisions appear in Title 11 of the codified federal statutes, available either in the official U.S. Code (published by the U.S. Government Printing Office) or one of the two commercially published unofficial codes, U.S.C.A. (Thomson-West) and the U.S.C.S. (LexisNexis). Attorneys find bankruptcy rules and official forms (Rules 1-9036; Forms 1-35) in the same three sets. Researchers often find the unofficial codes preferable because they are annotated with case summaries and references to other materials and are supplemented more frequently than …