Law Commons^™

Caught In The Trap: Pricing Racial Housing Preferences, A. Mechele Dickerson

Faculty Publications

No abstract provided.

Fao Schwartz In Chapter 22: Too Big For Its Britches, Andrea Kuban, Chris Reiley, Mary Walker

Chapter 11 Bankruptcy Case Studies

No abstract provided.

The Story Of Ymps (“Yield Maintenance Premiums”) In Bankruptcy, Michael G. Hillinger, Ingrid Michelsen Hillinger

Faculty Publications

This article tries to tell the story of YMPs in bankruptcy. It is not an easy story to tell. It has so many subplots: the court’s position on freedom of contract, the debtor’s solvency or insolvency, the effect of recognizing the YMP on other creditors, whether the YMP claim arose pre- or post-petition, the proper relationship between section 502 claim allowance and section 506(b) which permits oversecured claims to include reasonable fees, costs, or charges as provided for in the loan agreement, and the effect of YMP enforcement on chapter 11 plan configuration.

In terms of basic plot line though, …

Global Venue Controls Are Coming: A Reply To Professor Lopucki, Samuel Bufford

Journal Articles

This Article details my disagreements with Professor Lynn LoPucki's article "Global and out of Control" (79 Am. Bankr. L.J. 79). Part I discusses universalism and territorialism, especially the modified version of universalism that I support. Part II examines the international venue provisions of the Model Law and the EU Regulation. Part III introduces the relevant venue shopping cases. Only two groups of cases are relevant for the purpose of this paper: the French and German subsidiaries of Daisytek and Eurofood (a subsidiary of Parmalat SpA, the Italian conglomerate). None of the other cases that Professor LoPucki discusses was subject to …

Publicity Rights As Moral Rights, David Landau, David Westfall

Scholarly Publications

Recent legal history has witnessed the creation of a large number of new forms of property. Consequently, judges and legislators have generally been willing to imbue these new forms of property with all or most of the attributes of traditional property. In this article we try to explain this trend by examining one important new kind of property, the publicity right. Publicity rights initially emerged in response to functionalist considerations: transferable rights were needed to keep pace with commercial custom. As time went on, courts began to expand the attributes of the right to new frontiers, such as inheritability. In …

The Confused U.S. Framework For Foreign-Bank Insolvency: An Open Research Agenda, Steven L. Schwarcz

Faculty Scholarship

No abstract provided.

Take What You Can, Give Nothing Back: Judicial Estoppel, Employment Discrimination, Bankruptcy, And Piracy In The Courts, Theresa M. Beiner, Robert B. Chapman

Faculty Scholarship

No abstract provided.

Mississippi Chemical, Stacie Odencal, Jeremy Deese

Chapter 11 Bankruptcy Case Studies

No abstract provided.

Tyson, Neal Cope, Doug Elkins

Chapter 11 Bankruptcy Case Studies

No abstract provided.

Law And The Rise Of The Firm , Henry Hansmann, Reiner Kraakman, Richard Squire

Faculty Scholarship

Organizational law empowers firms to hold assets and enter contracts as entities that are legally distinct from their owners and managers. Legal scholars and economists have commented extensively on one form of this partitioning between firms and owners: namely, the rule of limited liability that insulates firm owners from business debts. But a less-noticed form of legal partitioning, which we call "entity shielding," is both economically and historically more significant than limited liability. While limited liability shields owners' personal assets from a firm's creditors, entity shielding protects firm assets from the owners' personal creditors (and from creditors of other business …

H.W. Johns - Manville, Steven P. Ingram, James K. Lam

Chapter 11 Bankruptcy Case Studies

No abstract provided.

The Impact Of Revised Article 9, Lois R. Lupica

Faculty Publications

Under Revised Article 9, secured creditors are granted greater rights than they had under former Article 9. We now have a secured credit system whereby secured creditors can more easily encumber a greater number of types of assets and can securitize more types of assets with greater certainty. These revisions were justified on the grounds of efficiency, although the impact of these revisions was not empirically proven. This article sets forth a research protocol for the study of Revised Article 9's impact on the credit markets.

An Approach To Intellectual Property, Bankruptcy, And Corporate Control, F. Scott Kieff, Troy A. Paredes

GW Law Faculty Publications & Other Works

Corporate control is the central concern of corporate law, and, in addition to priority, has become a core concern of bankruptcy. The question of corporate control in bankruptcy is especially important for intellectual property ("IP") rights. Bankruptcy proceedings do not compromise fundamentally the value of most tangible assets. Tangible assets generally retain their value both during and after bankruptcy proceedings, although there is always the risk that the business will be run poorly. IP is different. IP rights are typically most valuable when they carry a credible threat of injunction. As a result, to the extent the delay and coordination …

Procedural Incrementalism: A Model For International Bankruptcy, John A. E. Pottow

Articles

The headline-grabbing business failures of late have brought increased attention to the relatively unresolved area of multinational bankruptcies. Parmalat, Global Crossing, and United Airlines are among the few international juggernauts that have foundered. In the financial meltdowns of these cross-border institutions, assets and creditors are dispersed throughout commercial environments that rarely end neatly at national borders. There has been heated debate, both in scholarly literature and the practical battlefield, over how best to resolve these transnational insolvencies, and there is nothing yet approaching a consensus. Reform efforts of various stripes have almost uniformly failed to gain meaningful international support. At …

Lessons From The Nextwave Saga: The Federal Communications Commission, The Courts, And The Use Of Market Forms To Perform Public Functions, Rodger D. Citron, John A. Rogovin

Scholarly Works

No abstract provided.

Ethical Issues In Asbestos Litigation, Lester Brickman

Articles

Asbestos litigation has given rise to over 50,000,000 claims against 8400 former producers, distributors, installers and sellers of asbestos-containing products. To date, 850,000 claimants have sought compensation, costing businesses and insurance companies over $70 billion and resulting in more than 70 bankruptcies. Over 100,000 deaths are attributable to asbestos exposure with an additional 40,000 deaths anticipated over the next 30 years. Despite the significance of the ethical issues generated by the processes of acquiring, pressing and settling the most massive litigation in history, the legal literature is substantially devoid of any such discussion. One possible reason for this paucity of …

Why Annie Gets To Keep Her Gun: An Analysis Of Firearm Exemptions In Bankruptcy Proceedings, Marcia A. Yablon-Zug

Faculty Publications

No abstract provided.

How Law Affects Lending, Rainer F.H. Haselmann, Katharina Pistor, Vikrant Vig

Faculty Scholarship

The paper explores how legal change affects lending behavior of banks in twelve transition economies of Central and Eastern Europe. In contrast to previous studies, we use bank level rather than aggregate data, which allows us to control for country level heterogeneity and analyze the effect of legal change on different types of lenders. Using a differences-in-differences methodology to analyze the within country variation of changes in creditor rights protection, we find that the credit supplied by banks increases subsequent to legal change. Further, we show that collateral law matters more for credit market development than bankruptcy law. We also …

Undue Hardship In The Bankruptcy Courts: An Empirical Assessment Of The Discharge Of Educational Debt, Rafael I. Pardo, Michelle R. Lacey

Scholarship@WashULaw

The discharge in bankruptcy embodies the policy that relief should be granted to an individual who has ceased to be economically productive by virtue of burdensome debt obligations (the fresh start policy). Once the debtor has been deemed eligible for discharge, forgiveness of debt is automatic, accomplished through legislative rule and its judicial enforcement. With regard to the discharge of educational debt, however, Congress has devolved the exercise of debt relief to courts. An obligation to repay such debt will be discharged if a debtor establishes that undue hardship would be suffered in the absence of its discharge. A court …

Financial Contracts And The New Bankruptcy Code: Insulating Markets From Bankrupt Debtors And Bankruptcy Judges, Edward R. Morrison, Joerg Riegel

Faculty Scholarship

The reforms of 2005 yield important but subtle changes in the Bankruptcy Code's treatment of financial contracts. They might appear only to eliminate longstanding uncertainty surrounding the protections available to financial contract counterparties, especially counterparties to repurchase transactions and other derivative contracts. But the ambit of the reforms is much broader. The expanded definitions – especially the definition of "swap agreement" – are now so broad that nearly every derivative contract is subject to the Code's protection. Instead of protecting particular counterparties to particular transactions, the Code now protects any counterparty to any derivative contract. Entire markets have been insulated …