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Articles 1 - 3 of 3
Full-Text Articles in Bankruptcy Law
The Boiling Pot Of Lawyer Conflicts In Bankruptcy, Charles W. Wolfram
The Boiling Pot Of Lawyer Conflicts In Bankruptcy, Charles W. Wolfram
Cornell Law Faculty Publications
I take up here only two modest pieces of the current puzzle of lawyer conflicts of interest in bankruptcy practice. One involves the decision of the American Law Institute (hereinafter "ALI") to sidestep the entire field in the course of drafting its Restatement of the Law Governing Lawyers (hereinafter "Restatement"). The other involves the decision of the National Bankruptcy Review Commission (hereinafter "NBRC") to refuse to recommend that Congress do anything at all major to disturb existing law in the same realm. Either the law of lawyer conflicts in bankruptcy has been blessed in its present state by two prestigious …
Baseline Problems In Assessing Chapter 11, Theodore Eisenberg
Baseline Problems In Assessing Chapter 11, Theodore Eisenberg
Cornell Law Faculty Publications
Dealing with failing businesses is like dealing with failing marriages. It is messy. The bigger the business the messier the process is likely to be. Many big business failures in the United States go through their death throes or cure their ills in reorganizations under Chapter 11 of the Bankruptcy Act. As the vehicle in which big business messes travel, Chapter 11 is viewed as unnecessarily complex, time-consuming, and costly. The justification for Chapter 11's very existence has been challenged.
This article suggests that we are blaming the vehicle for the mess that it carries. Much of what is problematic …
Commentary On “On The Nature Of Bankruptcy”: Bankruptcy And Bargaining, Theodore Eisenberg
Commentary On “On The Nature Of Bankruptcy”: Bankruptcy And Bargaining, Theodore Eisenberg
Cornell Law Faculty Publications
At a conference on bargaining, it should not be surprising that there is more than one perspective on the relationship between bankruptcy and bargaining. Dean Jackson and Professor Scott's article emphasizes a hypothetical bargain to be struck by idealized participants in a firm. It explores the relationship between bankruptcy and that bargain. By imagining what that bargain would look like, Jackson and Scott construct new justifications for bankruptcy law's distributional rules. Such a theory, however, is subject to reservations about the depth of insight that can be gained from examination of purely theoretical bargains. Stripped of real-world characteristics, hypothetical bargains …