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Articles 1 - 28 of 28
Full-Text Articles in Bankruptcy Law
Rethinking Preemption And Constitutional Parameters In Bankruptcy, Michelle M. Harner
Rethinking Preemption And Constitutional Parameters In Bankruptcy, Michelle M. Harner
William & Mary Law Review
Chapter 11 of the U.S. Bankruptcy Code allows financially distressed businesses to reorganize and emerge from bankruptcy free of their pre-bankruptcy debts and obligations. In general, a business can achieve this kind of “fresh start” by confirming a plan of reorganization or pursuing a going-concern sale that typically facilitates a change in ownership, a reduction in leverage, and the elimination of most claims against the company’s assets. Through these kinds of transactions, a business can emerge from bankruptcy with a stronger balance sheet and often a new ownership structure. It also can streamline operations by, for example, assuming valuable contracts …
Does Ideology Matter In Bankruptcy? Voting Behavior On The Courts Of Appeals, Jonathan Remy Nash, Rafael I. Pardo
Does Ideology Matter In Bankruptcy? Voting Behavior On The Courts Of Appeals, Jonathan Remy Nash, Rafael I. Pardo
William & Mary Law Review
This Article empirically examines whether courts of appeals judges cast ideological votes in the bankruptcy context. The empirical study is unique insofar as it is the first to examine the voting behavior of circuit court judges in bankruptcy cases. More importantly, it focuses on a particular type of dispute that arises in bankruptcy: debt-dischargeability determinations. The study implements this focused approach in order to reduce heterogeneity in result. We find, contrary to our hypotheses, no evidence that circuit court judges engage in ideological voting in bankruptcy cases. We also find, however, non-ideological factors—including the race of the judge and the …
Credit Markets, Exemptions, And Households With Nothing To Exempt, Richard M. Hynes
Credit Markets, Exemptions, And Households With Nothing To Exempt, Richard M. Hynes
Faculty Publications
American bankruptcy law has offered a "fresh start" in every state for over one hundred years. As a result, econometric studies of consumer bankruptcy often focus on one of the few aspects of the law that has varied significantly across time and across states: exemptions. Professors Gropp, Scholz and White published the first article to test the effect of exemptions on credit markets. Consistent with theory, they found that residents of states with larger exemptions pay higher interest rates than those in states with lower exemptions andface an increased probability that they will be denied credit. These effects were most …
An Appeal To Equity: Why Bankruptcy Courts Should Resort To Equitable Powers For Latitude In Their Interpretation Of "Interests" Under Section 363(F) Of The Bankruptcy Code, Matthew T. Gunlock
An Appeal To Equity: Why Bankruptcy Courts Should Resort To Equitable Powers For Latitude In Their Interpretation Of "Interests" Under Section 363(F) Of The Bankruptcy Code, Matthew T. Gunlock
William & Mary Law Review
No abstract provided.
Why (Consumer) Bankruptcy?, Richard M. Hynes
Why (Consumer) Bankruptcy?, Richard M. Hynes
Faculty Publications
No abstract provided.
The Many Faces Of Chapter 11: A Reply To Professor Baird, A. Mechele Dickerson
The Many Faces Of Chapter 11: A Reply To Professor Baird, A. Mechele Dickerson
Faculty Publications
No abstract provided.
The Political Economy Of Property Exemption Laws, Richard M. Hynes, Anup Malani, Eric A. Posner
The Political Economy Of Property Exemption Laws, Richard M. Hynes, Anup Malani, Eric A. Posner
Faculty Publications
Exemption laws enable people who default on loans to protect certain assets from liquidation. Every state has its own set of exemption laws, and they vary widely. The 1978 federal bankruptcy law contains a set of national exemptions, which debtors in bankruptcy are permitted to use instead of their state's exemptions unless the state has formally "opted out" of the federal system. We contend that states' decisions to opt out shed light on their exemption levels. We find that states are more likely to opt out if their state exemption is lower than the federal exemption and that states are …
Overoptimism And Overborrowing, Richard M. Hynes
Overoptimism And Overborrowing, Richard M. Hynes
Faculty Publications
No abstract provided.
Approving Employee Retention And Severance Programs Judicial Discretion Run Amuck, A. Mechele Dickerson
Approving Employee Retention And Severance Programs Judicial Discretion Run Amuck, A. Mechele Dickerson
Faculty Publications
No abstract provided.
Behavioral Approach To Analyzing Corporate Failures, A. Mechele Dickerson
Behavioral Approach To Analyzing Corporate Failures, A. Mechele Dickerson
Faculty Publications
Recent corporate failures indicate that existing laws fail to give boards of directors adequate incentives to acknowledge that some financially troubled firms simply cannot be salvaged. Relying primarily on insights from law and behavioral science literature, this Article notes that directors have a natural tendency to underestimate risks and overestimate their ability to save an insolvent or near insolvent firm. This Article urges the imposition of a duty to file a timely bankruptcy petition because such a duty will encourage directors to consider the interests of all the firms' constituents, including workers, creditors, and the local community, when making decisions …
Muddy Property: Generating And Protecting Information Privacy Norms In Bankruptcy, Edward J. Janger
Muddy Property: Generating And Protecting Information Privacy Norms In Bankruptcy, Edward J. Janger
William & Mary Law Review
Bankruptcy law does not deal well with website promises to protect personal information. The legal treatment of privacy policies in bankruptcy currently turns on whether such policies are viewed as creating contract rights or property rights. Neither characterization fits well, and any attempt to shoehorn information privacy into either category has significant costs. Contract obligations are subject to discharge in bankruptcy, and any consumer expectations of privacy (contractual or otherwise) are likely to be defeated. By contrast, if personal information is deemed property of the website customer, information transfers that might benefit consumers will be stifled. This Article develops an …
Confusion And Solution: Chapter 11 Bankruptcy Trustee's Standard Of Care For Personal Liability, David P. Primack
Confusion And Solution: Chapter 11 Bankruptcy Trustee's Standard Of Care For Personal Liability, David P. Primack
William & Mary Law Review
No abstract provided.
Optimal Bankruptcy In A Non-Optimal World, Richard M. Hynes
Optimal Bankruptcy In A Non-Optimal World, Richard M. Hynes
Faculty Publications
Consumer bankruptcy insures individuals against misfortune. Like other forms of insurance, bankruptcy reduces an individual's incentive to guard against misfortune and provides her with an incentive to overstate her need for relief. The "first-best," or optimal, bankruptcy system, like the first-best tax or public assistance system, solves these moral hazards without any loss of efficiency. In bankruptcy, this first-best approach would deny relief to debtors responsible for their own distress and reduce the deserving debtors' obligations to an amount commensurate with their ability to pay. While the Bankruptcy Code tries (in part) to follow this first-best approach, such a utopian …
Bankruptcy Reform: Does The End Justify The Means?, A. Mechele Dickerson
Bankruptcy Reform: Does The End Justify The Means?, A. Mechele Dickerson
Faculty Publications
No abstract provided.
America's Uneasy Relationship With The Working Poor, A. Mechele Dickerson
America's Uneasy Relationship With The Working Poor, A. Mechele Dickerson
Faculty Publications
No abstract provided.
The Rotten Foundations Of Securitization, David Gray Carlson
The Rotten Foundations Of Securitization, David Gray Carlson
William & Mary Law Review
No abstract provided.
To Love, Honor, And (Oh) Pay: Should Spouses Be Forced To Pay Each Other's Debts?, A. Mechele Dickerson
To Love, Honor, And (Oh) Pay: Should Spouses Be Forced To Pay Each Other's Debts?, A. Mechele Dickerson
Faculty Publications
No abstract provided.
Family Values And The Bankruptcy Code: A Proposal To Eliminate Bankruptcy Benefits Awarded On The Basis Of Marital Status, A. Mechele Dickerson
Family Values And The Bankruptcy Code: A Proposal To Eliminate Bankruptcy Benefits Awarded On The Basis Of Marital Status, A. Mechele Dickerson
Faculty Publications
No abstract provided.
The Direct Action Against Insurers In Cercla Insolvency Cases: An Ideal Whose Time Has Come?, Peter R. Mounsey
The Direct Action Against Insurers In Cercla Insolvency Cases: An Ideal Whose Time Has Come?, Peter R. Mounsey
William & Mary Environmental Law and Policy Review
No abstract provided.
No Fault Equitable Subordination: Reassuring Investors That Only Government Penalty Claims Are At Risk, Scott M. Browning
No Fault Equitable Subordination: Reassuring Investors That Only Government Penalty Claims Are At Risk, Scott M. Browning
William & Mary Law Review
No abstract provided.
Rethinking Professor Westbrook's Two Thoughts About Insider Preferences, Peter A. Alces
Rethinking Professor Westbrook's Two Thoughts About Insider Preferences, Peter A. Alces
Faculty Publications
No abstract provided.
Value And Rationality In Bankruptcy Decisionmaking, Donald R. Korobkin
Value And Rationality In Bankruptcy Decisionmaking, Donald R. Korobkin
William & Mary Law Review
No abstract provided.
The 1978 Bankruptcy Reform Act's Police Or Regulatory Power Exemption To The Automatic Stay: Unnecessary, Unfounded, And Unrestrained, Robert E. Korroch
The 1978 Bankruptcy Reform Act's Police Or Regulatory Power Exemption To The Automatic Stay: Unnecessary, Unfounded, And Unrestrained, Robert E. Korroch
William & Mary Law Review
No abstract provided.
Does Section 524 (A)(2) Of The Bankruptcy Code Bar Criminal Prosecution Concerning Discharged Debts?, Kent A. Bieberich
Does Section 524 (A)(2) Of The Bankruptcy Code Bar Criminal Prosecution Concerning Discharged Debts?, Kent A. Bieberich
William & Mary Law Review
No abstract provided.
The Bankruptcy Code And Hazardous Waste Cleanup: An Examination Of The Policy Conflict, Douglas P. Demoss
The Bankruptcy Code And Hazardous Waste Cleanup: An Examination Of The Policy Conflict, Douglas P. Demoss
William & Mary Law Review
No abstract provided.
Substantive Consumer Bankruptcy Reform In The Bankruptcy Amendments Act Of 1984, Jeffrey W. Morris
Substantive Consumer Bankruptcy Reform In The Bankruptcy Amendments Act Of 1984, Jeffrey W. Morris
William & Mary Law Review
No abstract provided.
Workers' Rights Against A Bankrupt Employer, Nancy L. Lowndes
Workers' Rights Against A Bankrupt Employer, Nancy L. Lowndes
William & Mary Law Review
No abstract provided.
Possession Of A Bankrupt Taxpayer's Intangible Property
Possession Of A Bankrupt Taxpayer's Intangible Property
William & Mary Law Review
No abstract provided.