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Hofstra Law Faculty Scholarship
Cryptocurrencies; Bankruptcy; Debtor & creditor; Capitalists & financiers; Crowd funding
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Cryptocurrency Meets Bankruptcy Law: A Call For Creditor Status For Investors In Initial Coin Offerings, Miriam R. Albert, J. Scott Colesanti
Cryptocurrency Meets Bankruptcy Law: A Call For Creditor Status For Investors In Initial Coin Offerings, Miriam R. Albert, J. Scott Colesanti
Hofstra Law Faculty Scholarship
In 1973, experts Homer Kripke and John J. Slain published a seminal study titled The Interface Between Securities Regulation and Bankruptcy--Allocating the Risk of Illegal Securities Issuance between Securityholders and the Issuer's Creditors. That lengthy analysis, contributed by, respectively, a former Securities and Exchange Commission official and a professor of law, examined the status quo and concluded that investors were receiving unfair priority vis-à-vis creditors in bankruptcy proceedings administered under the federal Bankruptcy Code. Focusing on the traditional "absolute priority rule," the study pointed out that the Securities and Exchange Commission support for the investor priority was unfounded and urged …