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Articles 1 - 17 of 17
Full-Text Articles in Bankruptcy Law
International Insolvency Case Venue In The European Union: The Parmalat And Daisytek Controversies, Samuel Bufford
International Insolvency Case Venue In The European Union: The Parmalat And Daisytek Controversies, Samuel Bufford
Hon. Samuel L. Bufford
The European Union Insolvency Regulation (the EU Regulation) is a giant step forward in promoting international cooperation among EU countries for cross-border insolvency proceedings. It adopts a modified universalist solution to cross-border proceedings insofar as they are located within the EU. However, experience has shown that it needs improvement to work effectively. A venue battle now rages between courts of several European countries over which country's courts will administer particular cross-border proceedings and how the center of main interest is to be determined for this purpose. This Article begins with a detailed examination of the two principal cases where conflicts …
Chapter 11 Case Management And Delay Reduction: An Empirical Study, Samuel Bufford
Chapter 11 Case Management And Delay Reduction: An Empirical Study, Samuel Bufford
Hon. Samuel L. Bufford
Chapter 11 bankruptcy cases will drag on interminably if judges let them. The recent nine-month O.J. Simpson trial was short compared to the careers of some chapter 11 bankruptcy cases. The typical duration of chapter 11 cases can be reduced remarkably, however, through moderate judicial case management. The data in this study show that relatively modest judicial case management can squeeze a substantial amount of delay out of chapter 11 cases within the context of the present bankruptcy law. The case management program in this study, applied to 81.2% of the chapter 11 case load, shortened by 24.1% the time …
Center Of Main Interests, International Insolvency Case Venue, And Equality Of Arms: The Eurofood Decision Of The European Court Of Justice, Samuel L. Bufford
Center Of Main Interests, International Insolvency Case Venue, And Equality Of Arms: The Eurofood Decision Of The European Court Of Justice, Samuel L. Bufford
Hon. Samuel L. Bufford
The European Court of Justice ("E.C.J.") issued a ruling on May 2, 2006 in the Eurofood case, finding that the commencement of an insolvency case for Eurofood in Ireland gave the Irish court priority under E.U. law over a similar insolvency case commenced shortly thereafter in Italy. The E.C.J.'s ruling responded to the Supreme Court of Ireland's referral to the E.C.J. of five questions of E.U. law based on the E.U. Regulation on Insolvency Proceedings ("E.U. Regulation"). The Irish Supreme Court had referred these questions to the E.C.J. preliminary to deciding a pending appeal of the Dublin High Court's decision …
The Chapter 13 Alternative: A Legislative Solution To Undersecured Home Mortgages, Samuel Bufford
The Chapter 13 Alternative: A Legislative Solution To Undersecured Home Mortgages, Samuel Bufford
Hon. Samuel L. Bufford
This article discusses minor changes to the U.S. Bankruptcy Code that would make avoiding foreclosure possible for a homeowner who (a) is presently not able to make the mortgage service payments but (b) could make payments for a mortgage that is reduced to the market value of the property and to a fixed market mortgage rate. This article does not address the political issue of what protections Congress might decide to provide mortgage owners and servicers as a part of such legislation.
Introduction To The Articles Presented By Three Rising Stars In Bankruptcy Scholarship, Samuel Bufford
Introduction To The Articles Presented By Three Rising Stars In Bankruptcy Scholarship, Samuel Bufford
Hon. Samuel L. Bufford
Bankruptcy law is one of the fundamental legal structures necessary to the functioning of a market economy. In the common law tradition of the United States and England, bankruptcy law dates back to 1542. Bankruptcy law's origins are even more ancient, with roots extending back to at least the Hammaurabi Code and the Law of Moses. In the transition to market economies and Western-style legal systems in Central and Eastern Europe, the development of a viable bankruptcy law is one of the first priorities. This, the United States bankruptcy law that forms the background for this symposium is central to …
Global Venue Controls Are Coming: A Reply To Professor Lopucki, Samuel Bufford
Global Venue Controls Are Coming: A Reply To Professor Lopucki, Samuel Bufford
Hon. Samuel L. Bufford
This Article details my disagreements with Professor Lynn LoPucki's article "Global and out of Control" (79 Am. Bankr. L.J. 79). Part I discusses universalism and territorialism, especially the modified version of universalism that I support. Part II examines the international venue provisions of the Model Law and the EU Regulation. Part III introduces the relevant venue shopping cases. Only two groups of cases are relevant for the purpose of this paper: the French and German subsidiaries of Daisytek and Eurofood (a subsidiary of Parmalat SpA, the Italian conglomerate). None of the other cases that Professor LoPucki discusses was subject to …
What Is Right About Bankruptcy Law And Wrong About Its Critics, Samuel Bufford
What Is Right About Bankruptcy Law And Wrong About Its Critics, Samuel Bufford
Hon. Samuel L. Bufford
My comments in this paper focus on the papers in thus Symposium by Professors Barry Adler, James Bowers, and Philippe Aghion, Oliver Hart, and John Moore. I argue that the central points of these papers are gravely mistaken because they completely misunderstand the character of the bankruptcy caseload and procedures, they ignore some important purposes of bankruptcy reorganization, and they misstate the success rate for reorganizations. I have chosen these papers for comment for two reasons: they recommend radical changes in bankruptcy law, and they are based on the thinnest knowledge of bankruptcy practice. Incidentally, they also all take an …
Romanian Bankruptcy Law: A Central European Example, Samuel Bufford
Romanian Bankruptcy Law: A Central European Example, Samuel Bufford
Hon. Samuel L. Bufford
Romania now has one of the best-drafted bankruptcy laws in Central and Eastern Europe. The new Romanian bankruptcy law went into effect on August 26, 1995 and replaced the previous bankruptcy provisions in §695-987 of the Romanian Commercial Code, which was translated from the Italian Commercial Code of 1884 and enacted in 1887. While the commercial code fell into disuse during the Communist era, it was never repealed. After the Romanian revolution and the demise of Nicolae Ceauşescu at the end of 1989, the commercial code as well as the civil code remained good law and needed only to be …
United States International Insolvency Law, Samuel Bufford
United States International Insolvency Law, Samuel Bufford
Hon. Samuel L. Bufford
U.S. International Insolvency Law authored by Honorable Samuel L. Bufford is designed as the definitive interpretive work on Chapter 15 to the United States Bankruptcy Code, which took effect in October 2005. This code was introduced to coordinate international insolvency cases involving both the United States and one or more foreign countries. With the extensive growth of the international economy, international insolvency cases for international enterprises in financial difficulty are certain to increase. These cases will involve complex legal problems arising from assets located abroad in U.S. cases, foreign creditors in U.S. cases, and parallel cases in various countries for …
International Insolvency And International Arbitration - A Preliminary Perspective, Samuel L. Bufford
International Insolvency And International Arbitration - A Preliminary Perspective, Samuel L. Bufford
Hon. Samuel L. Bufford
International insolvency law and international arbitration law have historically existed in separate worlds that have rarely intersected. However, the time has come to give more serious consideration to whether, and to what extent, international arbitration can provide useful assistance in international insolvency cases. This paper contains some preliminary observations that may be useful in developing this topic.
Revision Of The European Union Regulation On Insolvency Proceedings, -- Recommendations, Samuel Bufford
Revision Of The European Union Regulation On Insolvency Proceedings, -- Recommendations, Samuel Bufford
Hon. Samuel L. Bufford
No abstract provided.
Coordination Of Insolvency Cases For International Enterprise Groups: A Proposal, Samuel Bufford
Coordination Of Insolvency Cases For International Enterprise Groups: A Proposal, Samuel Bufford
Hon. Samuel L. Bufford
No abstract provided.
United States International Insolvency Law, Samuel Bufford
United States International Insolvency Law, Samuel Bufford
Hon. Samuel L. Bufford
U.S. International Insolvency Law is designed as the definitive interpretive work on Chapter 15 to the United States Bankruptcy Code, which took effect in October 2005. This code was introduced to coordinate international insolvency cases involving both the United States and one or more foreign countries. With the extensive growth of the international economy, international insolvency cases for international enterprises in financial difficulty are certain to increase. These cases will involve complex legal problems arising from assets located abroad in U.S. cases, foreign creditors in U.S. cases, and parallel cases in various countries for the same business entities. This publication …
Tertiary And Other Excluded Foreign Proceedings Under Bankruptcy Code Chapter 15, Samuel Bufford
Tertiary And Other Excluded Foreign Proceedings Under Bankruptcy Code Chapter 15, Samuel Bufford
Hon. Samuel L. Bufford
No abstract provided.
Constitutional Problems In The 2005 Bankruptcy Amendments, Samuel Bufford, Erwin Chemerinsky
Constitutional Problems In The 2005 Bankruptcy Amendments, Samuel Bufford, Erwin Chemerinsky
Hon. Samuel L. Bufford
No abstract provided.
The New Chinese Bankruptcy Law: Text And Limited Comparative Analysis, Samuel L. Bufford
The New Chinese Bankruptcy Law: Text And Limited Comparative Analysis, Samuel L. Bufford
Hon. Samuel L. Bufford
No abstract provided.
Bench Book On International Insolvency For United States Judges, Samuel Bufford
Bench Book On International Insolvency For United States Judges, Samuel Bufford
Hon. Samuel L. Bufford
No abstract provided.