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Full-Text Articles in Law
Bankruptcy Reform And The Costs Of Sickness: Exploring The Intersections, Melissa B. Jacoby
Bankruptcy Reform And The Costs Of Sickness: Exploring The Intersections, Melissa B. Jacoby
Missouri Law Review
Two important developments in the personal bankruptcy system unfolded over the course of the last several years: lawmakers considered and ultimately passed an omnibus bankruptcy bill, and researchers began to delve more broadly and deeply into medical-related financial distress among bankruptcy filers. Drawing on prior scholarship, this article contributes to this symposium by considering what, if anything, these developments have to do with one another. Part I briefly reviews two recent empirical studies of bankruptcy filers and the findings they produced. Although these findings may not have had discrete prescriptive implications for bankruptcy reform, they have contributed to a more …
Why The Bankruptcy Reform Act Left Labor Legacy Costs Alone, Daniel Keating
Why The Bankruptcy Reform Act Left Labor Legacy Costs Alone, Daniel Keating
Missouri Law Review
This paper proceeds in four parts. Part I describes the world of labor legacy costs and how they end up intersecting with bankruptcy. Part II discusses what approaches Congress or the courts have already used to address the labor/bankruptcy intersection. Part III explores what Congress might have considered in the bankruptcy reform bill if it had been motivated to take a serious look at labor legacy costs in bankruptcy. Part IV explains possible theories as to why Congress chose not to reform the labor/bankruptcy intersection and why that decision was frustrating but prudent.
Abuse Prevention 2005, James J. White
Abuse Prevention 2005, James J. White
Missouri Law Review
The 2005 amendments to the Bankruptcy Code (BAPCPA or Act) that became effective in October of 2005 had an unusually long and difficult gestation. The legislation was conceived and even passed by Congress once during the Clinton administration. After President Clinton's pocket veto, the Act did not again reach a President's desk until President George W. Bush signed the Act into law on April 20, 2005, during the first year of his second term. The Act was conceived by institutional unsecured consumer creditors as the antidote to the rapidly rising number of consumer bankruptcies that followed the enactment of the …
Foreword, Michelle Arnopol Cecil
Foreword, Michelle Arnopol Cecil
Missouri Law Review
With the tumultuous period after the enactment of BAPCPA as our backdrop, hundreds of academics, practitioners, and judges gathered together for a two-day symposium to explore the positive and negative aspects of bankruptcy reform from a variety of interdisciplinary perspectives. This volume of the Missouri Law Review is devoted almost exclusively to that symposium. Not only does it include the ten participants' written scholarship that emerged from that extraordinary setting, during which we all benefitted tremendously from the input of others who had thought about, written about, and worked with the provisions of BAPCPA, but it also contains a fascinating …
Bankruptcy Reform: What's Tax Got To Do With It, Michelle Arnopol Cecil
Bankruptcy Reform: What's Tax Got To Do With It, Michelle Arnopol Cecil
Missouri Law Review
On April 20, 2005, President Bush signed into law the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 ("BAPCPA"), the most sweeping bankruptcy reform legislation passed by Congress in over a quarter of a century. The bill, which spanned over 600 pages, completelyoverhauled the consumer bankruptcy system and made significant changes to business bankruptcies as well. Yet despite Congress's massive effort to improve the current bankruptcy system in BAPCPA, it failed to address a number of important issues in the area of bankruptcy taxation, a critical but often overlooked area of bankruptcy law. One such issue involves the tax …
Race Matters In Bankruptcy Reform, A. Mechele Dickerson
Race Matters In Bankruptcy Reform, A. Mechele Dickerson
Missouri Law Review
On April 20, 2005, the Bankruptcy Abuse Prevention and Consumer Protection Act of ("BAPCPA") was signed into law and became fully effective for cases filed on or after October 17, 2005. 4 After considering bankruptcy reform for almost a decade, Congress ultimately concluded that some debtors were abusing bankruptcy laws by, among other things, discharging debts they had the means to pay. To curb this perceived abuse, Congress decided to radically overhaul the consumer provisions of the Code by generally making it harder for an opportunistic or "Abusive Debtor" to discharge his debts. Given the sweeping nature of these changes, …
Potential And Peril Of Bapcpa For Empirical Research, The, Katherine Porter
Potential And Peril Of Bapcpa For Empirical Research, The, Katherine Porter
Missouri Law Review
This article surveys the history of bankruptcy data and identifies the BAPCPA provisions that bear directly on research. It concludes by examining how such studies will and should proceed. BAPCPA provides both opportunities and hazards to advance our understanding of bankruptcy. The development of comprehensive federal data offers the potential to dramatically increase the scope of knowledge about the bankruptcy system. The peril lies in the government conducting its research without the transparency and accountability necessary to convince private industry, academic scholars, and the general public of the integrity and usefulness of these data. Rather than eclipsing academic research, the …
Psychology And Bapcpa: Enhanced Disclosure And Emotion, Richard L. Wiener, Michael Holtje, Ryan J. Winter, Jason A. Cantone
Psychology And Bapcpa: Enhanced Disclosure And Emotion, Richard L. Wiener, Michael Holtje, Ryan J. Winter, Jason A. Cantone
Missouri Law Review
This article describes a program of research that applies social analytic jurisprudence to test some of the assumptions in consumer bankruptcy law and policy.4 Our work first seeks to describe selected provisions from the newly enacted bankruptcy amendments that pertain to enhanced disclosure requirements, and then to locate some of the behavioral assumptions implicit in these provisions. 5 Next, we assess the accuracy of these assumptions based on an experiment that we conducted looking at a simulated online shopping trip that we constructed specifically to test the effects of enhanced disclosure
Future Of Bankruptcy: A Roundtable Discussion
Future Of Bankruptcy: A Roundtable Discussion
Missouri Law Review
Moderator: Michelle Arnopol Cecil, William H. Pittman Professor of Law, University of Missouri-Columbia School of Law Participants: Marianne Culhane, Professor of Law, Creighton University School of Law A. Mechele Dickerson, Associate Dean for Academic Affairs and Fulbright and Jaworski Professor of Law, University of Texas School of Law The Honorable William Edmonds, Chief United States Bankruptcy Judge, Northern District of Iowa Daniel L. Keating, Associate Dean for Academic Affairs and Tyrrell Williams Professor of Law, Washington University School of Law Katherine Porter, Associate Professor of Law, University of Iowa College of Law John Pottow, Assistant Professor of Law, University of …
Good In Theory, Bad In Practice: The Unintended Consequences Of Bapcpa's Credit Counseling Requirement, Katherine A. Jeter-Boldt
Good In Theory, Bad In Practice: The Unintended Consequences Of Bapcpa's Credit Counseling Requirement, Katherine A. Jeter-Boldt
Missouri Law Review
On April 20, 2005, after nearly a decade of lobbying by the credit industry, President Bush signed the Bankruptcy Abuse and Consumer Protection Act (BAPCPA). The publicly stated goal of BAPCPA was to make bankruptcy less desirable so that debtors would stop abusing the protections of the Bankruptcy Code. Although Congress was motivated by laudable intentions, it is clear that BAPCPA contains at least one good idea that does not work in practice - the credit counseling requirement. Under BAPCPA, a debtor must receive credit counseling before filing for bankruptcy. Not only did Congress fail to instruct judges on the …
Crystals, Mud, Bapcpa, And The Structure Of Bankruptcy Decisionmaking, R. Wilson Freyermuth
Crystals, Mud, Bapcpa, And The Structure Of Bankruptcy Decisionmaking, R. Wilson Freyermuth
Missouri Law Review
As a real estate professor, I tend to focus on bankruptcy only as it intersects with mortgage law and Article 9 of the Uniform Commercial Code. Thus, I feel somewhat out of my element as a commenter in this symposium, and my observations may be suspect coming from a bankruptcy "outsider." But as an outside observer, it seems troublesome that bankruptcy's dispute resolution system - and particularly its multiple layers of appellate review - has always been so poorly designed to produce doctrinal clarity. And even if BAPCPA does resolve a number of specific legal issues that have bedeviled the …
Parties To International Commercial Arbitration Agreements Beware: Bankruptcy Trumps Supreme Court Precedent Favoring Arbitration Of International Disputes, Lindsay Biesterfeld
Parties To International Commercial Arbitration Agreements Beware: Bankruptcy Trumps Supreme Court Precedent Favoring Arbitration Of International Disputes, Lindsay Biesterfeld
Journal of Dispute Resolution
Phillips v. Congelton (In re White Mountain Mining Co.), presents a heightened version of the conflict between the general policy favoring enforcement of arbitration agreements and the policy favoring resolution of bankruptcy-related claims in the bankruptcy court proceedings as the case involves a dispute over the enforcement of an international agreement to arbitrate a claim that is a "core" bankruptcy proceeding. In Phillips, the Fourth Circuit analyzed the underlying purposes of both the bankruptcy code and the federal arbitration statutes, and resolved the conflicting purposes of the two by giving greater deference to the policy favoring resolution of bankruptcy-related claims …