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Articles 1 - 6 of 6
Full-Text Articles in Bankruptcy Law
Claim Preclusion And The Problem Of Fictional Consent, Lindsey Simon
Claim Preclusion And The Problem Of Fictional Consent, Lindsey Simon
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The doctrine of claim preclusion promotes fairness and finality by preventing parties from raising claims that already were (or could have been) raised in a prior proceeding. This strict consequence can be imposed only when the litigant received minimal due process protections in the initial proceeding, including notice and direct or indirect participation.
Modern litigation has caused a new problem. In some cases, a party may be precluded from ever raising a claim on the grounds of “fictional consent” to a prior court’s decisionmaking authority. Litigation devices have expanded the potential reach of judgments through aggregation and broad jurisdictional grants, …
The Guardian Trustee In Bankruptcy Courts And Beyond, Lindsey Simon
The Guardian Trustee In Bankruptcy Courts And Beyond, Lindsey Simon
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Litigation systems create dangers of unfairness. Citizens worry, and should worry, about exploitive settlements in aggregate litigation, potential biases in administrative proceedings, and troubling power imbalances in criminal trials. Public confidence in adjudicative processes has eroded to an all-time low. This Article explores the untapped potential of adding independent watchdog entities to address systemic threats to the integrity of government decisionmaking. These entities, which I call “guardian trustees,” do not fit within the traditional framework of our adversary system. Though guardian trustees already operate in bankruptcy proceedings, they have thus far received little attention in scholarly literature. This Article begins …
Differential Treatment Among Creditors Under India's Insolvency And Bankruptcy Code, 2016: Issues And Solutions, C. Scott Pryor, Risham Garg
Differential Treatment Among Creditors Under India's Insolvency And Bankruptcy Code, 2016: Issues And Solutions, C. Scott Pryor, Risham Garg
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This paper represents the results of an examination of the implementation of India's Insolvency and Bankruptcy Code, 2016 (IBC). This project included purposive sampling as well as interviews with resolution professionals, representatives of India's Insolvency Professional Agencies, and officials of the Insolvency and Bankruptcy Board of India. Analysis of this data identified three problems: 1. Vesting near-plenary control of the Corporate Resolution Insolvency Process (CIRP) with a Committee of Creditors made up of financial creditors has led to a perception of inequitable distributions between the classes of creditors. 2. The CIRP provisions of the IBC are inconsistent with public policy …
Using General Counsel To Set The Tone For Work In Large Chapter 11 Cases, Nancy B. Rapoport
Using General Counsel To Set The Tone For Work In Large Chapter 11 Cases, Nancy B. Rapoport
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This Essay suggests that one way for the general counsel to help bankruptcy professionals make better staffing and budget decisions is to communicate her values more clearly to those professionals at the beginning of the engagement. In her role as the chief legal officer, the general counsel needs to let the bankruptcy professionals in on her thought processes. How does she watch over her own attorneys' decisions in other types of cases? What expenses does she consider reasonable? If she takes an active role in monitoring her bankruptcy professionals' work, her values (assuming that they're good values) will contribute to …
Client-Focused Management Of Expectations For Legal Fees In Large Chapter 11 Cases, Nancy B. Rapoport
Client-Focused Management Of Expectations For Legal Fees In Large Chapter 11 Cases, Nancy B. Rapoport
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Large chapter 11 cases can have fees that run into the hundreds of millions of dollars. That's one of the reasons that, in 2013, the Executive Office of the United States Trustee promulgated additional guidelines that affect legal fees in large chapter 11 cases. Bankruptcy courts have been appointing fee examiners and fee committees in large cases to aid the courts in their duty to ensure that the fees and expenses of estate-paid professionals are reasonable. I've been one of those people charged with helping bankruptcy courts review fees. As such, I've seen first-hand what happens when the professionals involved …
Debt In Just Societies: A General Framework For Regulating Credit, John Linarelli
Debt In Just Societies: A General Framework For Regulating Credit, John Linarelli
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Debt presents a dilemma to societies: successful societies benefit from a substantial infrastructure of consumer, commercial, corporate, and sovereign debt but debt can cause substantial private and social harm. Pre- and post-crisis solutions have seesawed between subsidizing and restricting debt, between leveraging and deleveraging. A consensus exists among governments and international financial institutions that financial stability is the fundamental normative principle underlying financial regulation. Financial stability, however, is insensitive to equality concerns and can produce morally impermissible aggregations in which the least advantaged in a society are made worse off. Solutions based only on financial stability can restrict debt without …