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Full-Text Articles in Law
The One Hundred Billion Dollar Problem In Small Claims Court: Robo-Signing And Lack Of Proof In Debt Buyer Cases, Peter A. Holland
The One Hundred Billion Dollar Problem In Small Claims Court: Robo-Signing And Lack Of Proof In Debt Buyer Cases, Peter A. Holland
Faculty Scholarship
Recent years have seen the rise of a new industry which has clogged the dockets of small claims courts throughout the country. It is known as the "debt buyer" industry. Members of this $100 billion per year industry exist for no reason other than to purchase consumer debt which others have already deemed uncollectable, and then try to succeed in collecting where others have failed. Debt buyers pay pennies on the dollar for this charged off debt, and then seek to collect, through hundreds of thousands of lawsuits, the full face value of the debt. The emergence and vitality of …
Activist Distressed Debtholders: The New Barbarians At The Gate?, Michelle M. Harner
Activist Distressed Debtholders: The New Barbarians At The Gate?, Michelle M. Harner
Faculty Scholarship
The term “corporate raiders” previously struck fear in the hearts of corporate boards and management teams. It generally refers to investors who target undervalued, cash-flush or mismanaged companies and initiate a hostile takeover of the company. Corporate raiders earned their name in part because of their focus on value extraction, which could entail dismantling a company and selling off its crown jewels. Today, the term often conjures up images of Michael Milken, Henry Kravis or the movie character Gordon Gekko, but the alleged threat posed to companies by corporate raiders is less prevalent—at least with respect to the traditional use …