Bankruptcy Law Commons^™

The Dischargeability Of Money Judgements Versus Property Interests In Arbitration Awards For Domestic Contributions In The Context Of Unmarried Couples, Gabriella Hansen

Bankruptcy Research Library

(Excerpt)

A debt which arises prior to the filing of the petition for discharge in bankruptcy is dischargeable unless it can be categorized as one of the statutory exceptions to discharge listed in section 523(a) of title 11 of the United States Code (the “Bankruptcy Code”). Section 523(a)(5) of the Bankruptcy Code prohibits the discharge of awards of domestic support due to a debtor’s spouse, former spouse, or child. Accordingly, maintenance, alimony, and child support, often awarded in divorce proceedings, fall under the federal bankruptcy law statutory exceptions to discharge for domestic support obligations.

When an unmarried couple separates and …

To Stay Or Not To Stay? A Clash Of Arbitration And Insolvency Regimes, Darius Chan, Sidharrth B Rajagopal

Research Collection Yong Pung How School Of Law

In the wake of the global Coronavirus disease 2019 (COVID-19) pandemic, a rise in creditorinitiated winding-up proceedings is likely to be impending in coming years (See e.g., RCMA Asia Pte. Ltd. v. Sun Electric Power Pte. Ltd. [2020] SGHC 205). At the same time, geopolitical developments, such as the scale and ambition of Belt & Road Initiative projects, have raised questions over the issue of debt sustainability. Given the prevalence of arbitration clauses in modern international commercial and project agreements, the interplay and relationship between insolvency and dispute resolution, and especially arbitration, requires careful attention. While the intersections between the …

Why Police Should Protect Complainant Autonomy, Randall K. Johnson

Faculty Works

This Essay does its work in, at least, three ways. First, it encourages better use of scarce public sector resources by calling for reform of the police complaint intake process. Next, this Essay identifies the causes of police complaint inefficiencies by critically-assessing how intake is done by the Chicago Police Department (CPD). Lastly, it provides guidance about how to achieve CPD intake reform by better protecting complainant autonomy. Complainant autonomy, at least in this Essay, is defined as a real party in interest’s (i.e. an injured citizen’s) right to control how its allegations are framed by a nominal plaintiff (i.e. …

The New Bond Workouts, William W. Bratton, Adam J. Levitin

All Faculty Scholarship

Bond workouts are a famously dysfunctional method of debt restructuring, ridden with opportunistic and coercive behavior by bondholders and bond issuers. Yet since 2008 bond workouts have quietly started to work. A cognizable portion of the restructuring market has shifted from bankruptcy court to out-of-court workouts by way of exchange offers made only to large institutional investors. The new workouts feature a battery of strong-arm tactics by bond issuers, and aggrieved bondholders have complained in court. The result has been a new, broad reading of the primary law governing workouts, section 316(b) of the Trust Indenture Act of 1939 (“TIA”), …

Bankruptcy’S Uneasy Shift To A Contract Paradigm, David A. Skeel Jr., George Triantis

All Faculty Scholarship

The most dramatic development in twenty-first century bankruptcy practice has been the increasing use of contracts to shape the bankruptcy process. To explain the new contract paradigm—our principal objective in this Article-- we begin by examining the structure of current bankruptcy law. Although the Bankruptcy Code of 1978 has long been viewed as mandatory, its voting and cramdown rules, among others, invite considerable contracting. The emerging paradigm is asymmetric, however. While the Code and bankruptcy practice allow for ex post contracting, ex ante contracts are viewed with suspicion.

We next use contract theory to assess the two modes of contracting. …

A No-Tribunal Sdrm And The Means Of Binding Creditors To The Terms Of A Restructuring Plan, Charles W. Mooney Jr.

All Faculty Scholarship

The paper addresses two discrete but related and essential attributes of a sovereign debt restructuring mechanism (SDRM). It first considers the merits and feasibility of an SDRM that would provide a procedure for proposing and adopting a restructuring plan for a sovereign debtor’s debt which would not involve any tribunal or administrator (a No-Tribunal SDRM). The No-Tribunal SDRM would undertake the restructuring as if the sovereign debtor and its creditors were subject to the Model CAC regime. In addition to embodying a novel and interesting structure for an SDRM—and one that eliminates the difficult hurdle of identifying a satisfactory tribunal—adoption …

Cross-Border Insolvency Problems: Is The Uncitral Model Law The Answer?, S. Chandra Mohan

Research Collection Yong Pung How School Of Law

This paper examines the impact that the UNCITRAL Model Law on Cross-border Insolvency has had on States in the light of the central problems often associated with transnational insolvencies. Despite the accolades that it has received, the Model Law has been adopted in only 19 countries in the last 15 years and that too in many different ways. If the number of adoptees and the rather conditional acceptance of the Model Law’s provisions represent a lack of international enthusiasm for adopting the Model Law, what are the reasons for this? The paper concludes by asking whether the UNCITRAL Model Law …

Integrating "Alternative" Dispute Resolution Into Bankruptcy: As Simple (And Pure) As Motherhood And Apple Pie?, Nancy A. Welsh

Faculty Scholarship

Today, there can be little doubt that “alternative” dispute resolution is anything but alternative. Nonetheless, many judges, lawyers (and law students) do not truly understand the dispute resolution processes that are available and how they should be used. In the shadow of the current economic crisis, this lack of knowledge is likely to have negative consequences, particularly in those areas of practice such as bankruptcy and foreclosure in which clients, lawyers, regulators, and courts work under pressure, often with inadequate time and financial resources to permit careful analysis of procedural options. Potential negative effects can include: (1) impairment of a …

You've Got Your Mother's Laugh: What Bankruptcy Mediation Can Learn From The Her/History Of Divorce And Child Custody Mediation, Nancy A. Welsh

Faculty Scholarship

Due to our current deep economic woes, growing bankruptcy filings, and apparent legislative unwillingness to expand the number of judges, bankruptcy courts are exploring the use of mediation to help resolve adversary proceedings, negotiate elements of reorganizations, and deal with claims that cannot be heard directly in bankruptcy proceedings. In addition, mediation advocates have been consistent in urging greater use of the process to reduce debtors’ and claimants’ costs, bridge the jurisdictional and standing challenges that bankruptcies can pose, and offer claimants the opportunity to be heard and determine their own resolution of claims. At this point, the relatively few …

Arbitration, Bankruptcy And Public Policy: A Contractarian Analysis, Paul F. Kirgis

Faculty Law Review Articles

As arbitration agreements become more common, bankruptcy courts increasingly encounter arbitration agreements to which a bankruptcy debtor is a party. Bankruptcy judges must then determine whether to enforce an otherwise valid arbitration clause or to refuse enforcement and decide the underlying dispute themselves. To date, bankruptcy judges facing these issues have tended to see arbitrationa s a competing, quasi-judicialf orum. They typically refuse to enforce arbitration agreements when they find that bankruptcy policy would favor resolution in the bankruptcy proceeding instead of in some other adjudicative forum. Building on previous work, I contend in this article that arbitration is best …

We Can Work It Out: Entertaining A Dispute Resolution System Design For Bankruptcy Court, Elayne E. Greenberg

Faculty Publications

On October 2, 2009, dispute resolution scholars and bankruptcy court jurists courageously began the difficult conversation about the feasibility of an expanded dispute resolution system design for bankruptcy court. This commentary distills that conversation through a dispute resolution system design lens. Dispute resolution system design offers a framework for organizations to more effectively manage and resolve recurring conflicts. The design of a dispute resolution system requires clarifying ideas, elucidating values, prioritizing goals, considering options and incorporating that information into a more workable process to respond to conflict. All the while, the stakeholders and dispute resolution designers work together to clarify, …

12th Biennial Judge Joe Lee Bankruptcy Institute, Office Of Continuing Legal Education At The University Of Kentucky College Of Law

Continuing Legal Education Materials

Materials from the 12th Biennial Judge Joe Lee Bankruptcy Institute held May 2005.

Valuation Averaging: A New Procedure For Resolving Valuation Disputes, Keith Sharfman

Rutgers Law School (Newark) Faculty Papers

In this Article, Professor Sharfman addresses the problem of "discretionary valuation": that courts resolve valuation disputes arbitrarily and unpredictably, thus harming litigants and society. As a solution, he proposes the enactment of "valuation averaging," a new procedure for resolving valuation disputes modeled on the algorithmic valuation processes often agreed to by sophisticated private firms in advance of any dispute. He argues that by replacing the discretion of judges and juries with a mechanical valuation process, valuation averaging would cause litigants to introduce more plausible and conciliatory valuations into evidence and thereby reduce the cost of valuation litigation and increase the …

Judgment Proofing, Bankruptcy Policy, And The Dark Side Of Tort Liability, Charles W. Mooney Jr.

All Faculty Scholarship

No abstract provided.

Commercial Arbitration In The U.S.: The Arbitrability Of Disputes Arising From Statute-Based Claims, Sylvie Frankignoul

LLM Theses and Essays

A leading contemporary expert in arbitration has explained: "The concept of arbitrability determines the point at which the experience of contractual freedom ends and the public mission of adjudication begins. In effect, it establishes a dividing line between the transactional pursuit of private rights and courts' role as custodians and interpreters of the public interest." 1 A major part of the arbitrability doctrine deals with the kind of claims that can fall within the scope of agreements for private dispute resolution. Arbitration clauses are an integral part of the parties' transactions. Nevertheless, the American judiciary historically has refused to enforce …

Reorganization A Comparative Study Of Reorganization In Denmark And In The United States, Poul Jagd Mogensen

LLM Theses and Essays

The purpose of this thesis is to analyze and discuss a list of specific problems in the current Danish system and in this analysis to examine how these problems are dealt with under the United States laws on reorganization. The thesis consists of five parts in addition to this Introduction. Part II is an introduction to the laws on reorganization in Denmark and in the United States. Part II also includes a brief introduction to out-of-court workouts as an alternative to reorganization under the bankruptcy laws. Part III provides statistical information on the number of reorganizations, the outcome of reorganizations, …

Financial Distress As A Non-Cooperative Game: A Proposal For Overcoming Obstacles To Private Workouts, Claire Oakes Finkelstein

All Faculty Scholarship

No abstract provided.

Bargaining And The Division Of Value In Corporate Reorganization, Howard F. Chang, Lucian A. Bebchuk

All Faculty Scholarship

No abstract provided.

Developments In Law - Toxic Waste Litigation, Howard F. Chang

All Faculty Scholarship

No abstract provided.

Interstate Gas Pipeline Ratemaking And Contract Implications, Henry E. Brown

Natural Gas Symposium: Contract Solutions for the Future of Regulatory Environment (March 24-25)

61 pages.

Contains references.

Contains 7 attachments.

Creditors’ Rights Involved In The Production And Sale Of Natural Gas, William M. Schultz

Natural Gas Symposium: Contract Solutions for the Future of Regulatory Environment (March 24-25)

101 pages (includes forms).

Contains 6 attachments.

Contractual And Other Considerations Affecting Producers, Pipelines And Distributors During Current Period Of Market Demand Constraints [Outline], Michael J. Manning

Natural Gas Symposium: Contract Solutions for the Future of Regulatory Environment (March 24-25)

6 pages.

Off-System Sales: Will They Ever Return?, Paul F. O'Konski

Natural Gas Symposium: Contract Solutions for the Future of Regulatory Environment (March 24-25)

5 pages.

Section 311 And 312 Of The Natural Gas Policy Act Of 1978 And Hinshaw Pipelines, Lauren Eaton

Natural Gas Symposium: Contract Solutions for the Future of Regulatory Environment (March 24-25)

5 pages.

The Natural Gas Industry In Transition, Ruth A. Maurer

Natural Gas Symposium: Contract Solutions for the Future of Regulatory Environment (March 24-25)

10 pages (includes illustrations).

Drafting And Interpreting Sensitive Gas Purchase Contract Provisions, William D. Watson

Natural Gas Symposium: Contract Solutions for the Future of Regulatory Environment (March 24-25)

8 pages.

Agenda: Natural Gas Symposium: Contract Solutions For The Future Of Regulatory Environment, University Of Colorado Boulder. Natural Resources Law Center, University Of Houston. Law Center

Natural Gas Symposium: Contract Solutions for the Future of Regulatory Environment (March 24-25)

Contents:

The natural gas industry in transition / Ruth A. Maurer -- Legislative prospects for wellhead pricing of natural gas / Richard G. Morgan -- Off-system sales : will they ever return? : the interstate side / Robert C. McHugh -- Off-system sales : will they ever return? / Paul F. O'Konski -- Contractual and other considerations affecting producers, pipelines and distributors during current period of market demand constraints / Michael J. Manning -- Section 311 and 312 of the Natural Gas Policy Act of 1978 and Hinshaw pipelines / Lauren Eaton -- Drafting and interpreting sensitive gas purchase contract …

Off-System Sales – Will They Ever Return? (The Interstate Side), Robert C. Mchugh

Natural Gas Symposium: Contract Solutions for the Future of Regulatory Environment (March 24-25)

27 pages (includes illustrations).

Contains 2 pages of references.

Contains 1 attachment.

Legislative Prospects For Wellhead Pricing Of Natural Gas, Richard G. Morgan

Natural Gas Symposium: Contract Solutions for the Future of Regulatory Environment (March 24-25)

162 pages.

Contains 16 attachments.