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United States

Faculty Scholarship

Duke Law

Bankruptcy Law

2015

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Full-Text Articles in Law

Derivatives And Collateral: Balancing Remedies And Systemic Risk, Steven L. Schwarcz Jan 2015

Derivatives And Collateral: Balancing Remedies And Systemic Risk, Steven L. Schwarcz

Faculty Scholarship

U.S. bankruptcy law grants special rights and immunities to creditors in derivatives transactions, including virtually unlimited enforcement rights. This Article examines whether exempting those transactions from bankruptcy’s automatic stay, including the stay of foreclosure actions against collateral, is necessary or appropriate in order to minimize systemic risk.