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Full-Text Articles in Law
The Legal Infrastructure Of Ex Post Consumer Debtor Protections, Melissa B. Jacoby
The Legal Infrastructure Of Ex Post Consumer Debtor Protections, Melissa B. Jacoby
Fordham Urban Law Journal
This article reviews the legal infrastructure of tools that protect debtors’ assets or income, or that enable debtors to resolve secured credit problems during ordinary times (e.g., not specific crisis interventions). Part I divides consumer protection tools into functional categories: protection of assets and future income, and retention of property subject to a security interest in default. Part II identifies the location of similar tools in federal law, uniform state law, and non-uniform state law. Part III examines implications of this divided system, with a special focus on the bundling of debtor protections and the role of intermediaries. This discussion …
Nondebtor Releases In Chapter 11 Reorganizations: A Limited Power, Elizabeth Gamble
Nondebtor Releases In Chapter 11 Reorganizations: A Limited Power, Elizabeth Gamble
Fordham Urban Law Journal
This note concerns the ability of bankrupt companies to file Chapter 11 reorganization plans that contain provisions releasing the liabilities of parties other than the companies themselves. One such mechanism, used in conjunction with the 2010 BP oil spill in the Gulf of Mexico, is a trust releasing a financially-troubled company from liability to certain types of tort claimants. The author argues that although bankruptcy courts do have the power to approve such plans, such power should be carefully limited when companies seek to grant releases to insiders and insurance companies.
Financial Stability Is A Volume Business: A Comment On 'The Legal Infrastructure Of Ex Post Consumer Debtor Protections', Anna Gelpern
Financial Stability Is A Volume Business: A Comment On 'The Legal Infrastructure Of Ex Post Consumer Debtor Protections', Anna Gelpern
Fordham Urban Law Journal
In this response to Professor Melissa B. Jacoby's "The Legal Infrastructure of Ex Post Consumer Debtor Protections," the author expands the scope of the household debt discussion beyond the consumer level and examines the effect that a fragmented infrastructure for legal service delivery can have on financial stability nationwide.
Forgiveness In The Civil Law, Jacqueline Nolan-Haley
Forgiveness In The Civil Law, Jacqueline Nolan-Haley
Fordham Urban Law Journal
A discussion of the role of forgiveness in civil law, specifically relating to bankruptcy. Includes an audience question-and-answer session.
Forgiveness In The Civil Law, Jacqueline Nolan-Haley
Forgiveness In The Civil Law, Jacqueline Nolan-Haley
Fordham Urban Law Journal
A discussion of the role of forgiveness in civil law, specifically relating to bankruptcy. Includes an audience question-and-answer session.
What Do You Mean My Partnership Has Been Petitioned Into Bankruptcy?, Karen E. Blaney
What Do You Mean My Partnership Has Been Petitioned Into Bankruptcy?, Karen E. Blaney
Fordham Urban Law Journal
Bankruptcy law regarding partnerships differs from the law pertaining to individuals and corporations. Only a partnership can be involuntarily petitioned into bankruptcy by individuals within the organization. Involuntary petitions can be used by general partners as bargaining chips, and may encourage partners who can personally benefit from filing to do so, even if the act would be detrimental to the partnership. Under present bankruptcy law, an involuntary petition may be commenced against a partnership by fewer than all of the general partners in such partnership. In comparison to prior bankruptcy provisions governing a partner's involuntary petition against the partnership, the …
"Consecutive" Chapter 11 Filings: Use Or Abuse?, Jonathan Moss
"Consecutive" Chapter 11 Filings: Use Or Abuse?, Jonathan Moss
Fordham Urban Law Journal
This Note argues that bankrtupcy courts should apply a good faith standard that imposes a higher level of scrutiny before permitting a debtor to proceed with a second filing and plan. This Note proceeds to analyze the good faith standards for consecutive Chapter 11 petitions established in different jurisdictions. This Note then proceeds to explore the threat consecutive provisions pose to the Bankruptcy Code's lease and executory contract provisions. This Note then analyzes how consecutive filings can undermine the Code's basic creditor protections, and concludes that courts should apply a rigorous good faith standard consistent with recent decisions from the …
Cy Pres Powers Of The Federal Bankruptcy Courts - New Hope For Financially Distressed Charities?, George B. Reese
Cy Pres Powers Of The Federal Bankruptcy Courts - New Hope For Financially Distressed Charities?, George B. Reese
Fordham Urban Law Journal
During times of economic turmoil, certain private charitable institutions operating in urban areas often face financial problems. In the past, these institutions - hospitals, community service centers, and the like - were partially reimbursed by government welfare funds for their "public services" expenditures. But as the pressures on municipal budgets have increased, these reimbursements become delayed, and sometimes uncertain. A charitable corporation contemplating a petition in bankruptcy might wish to seek cy pres relief from the bankruptcy court. Cy pres, a common feature of state law, provides that a gift in trust or otherwise which is determined to have been …
Note: Secured Creditors In Wage Earner Proceedings: Interpreting The Validity Of Bankruptcy Rule 13-307(D), Jane E. Finkel
Note: Secured Creditors In Wage Earner Proceedings: Interpreting The Validity Of Bankruptcy Rule 13-307(D), Jane E. Finkel
Fordham Urban Law Journal
On October 1, 1973 the Supreme Court promulgated rules prescribing the practice and procedure to be followed in cases and proceedings governed by Chapters I-VII and Chapter XIII of the Bankruptcy Act. The procedural changes are extensive, permeating every stage of straight bankruptcy and Chapter XIII Wage Earner proceedings. One of the more important rules is Bankruptcy Rule 13-307(d), which deals with claims of secured creditors in Wage Earner proceedings under Chapter XIII. Secured creditors have challenged the validity of Rule 13-307(d), claiming that the rule modifies the secured party's substantive right to full recovery of the contract price. Thus, …
Municipal Bankruptcy Under The 1976 Amendments To Chapter Ix Of The Bankruptcy Act, Kenneth W. Bond
Municipal Bankruptcy Under The 1976 Amendments To Chapter Ix Of The Bankruptcy Act, Kenneth W. Bond
Fordham Urban Law Journal
This articles examines the new Chapter IX of the Bankruptcy Act, particularly its effectiveness in providing insolvent or financially distressed municipalities with a simpler and more efficient method of obtaining financial relief. The articles discusses the differences under the new Chapter IX as compared to the old Chapter IX and argues that the new Chapter IX, although not designed to accomplish more than its predecessor, is a better tool for financially distressed municipalities because it simplifies the bankruptcy process while increasing the changes of a successful reorganization of debt.
Baankruptcy-Usury-Plaintiff's Claim For Compound Interest Ruled Usurious; Simple Interest Disallowed To Give Effect To State's Deterrence Policy, Gerald Bohm
Fordham Urban Law Journal
Usury is the charging of interest for the use of money as a rate in excess of that permitted by statute. The Bankruptcy Act allows the trustee-in-bankruptcy to plead the defense of usury to a creditor's claim. A debtor-in-possession in a Chapter XI proceeding, who has all the rights and powers of the trustee, may also assert the defense of usury. There is, however, no federal usury statute and the Bankruptcy Act defines neither usury nor its effect. To resolve the usury issue the bankruptcy court has to look to the law of the jurisdiction in which the loan arose. …