Open Access. Powered by Scholars. Published by Universities.®
- Keyword
-
- And Economic Stability Act; Puerto Rico; US Virgin Islands; Debt Default; Financial Oversight and Management Board for Puerto Rico; Creditor Action; Chapter 9; Title III; Chapter 11 (1)
- Management (1)
- Municipal Bankruptcy; Bankruptcy Code; Chapter 9; Chapter 11; Tenth Amendment; US Constitution; Property Law; Debtor; Creditor; Federalism; Fincncial Restrucuturing; State Sovereignty; Public Bankruptcy; Municipal debtor-creditor law; Municipal Finance; (1)
- Pubic Bankruptcy; Bankruptcy Clause; Article I; Section 8; Clause 4; United States Constitution; Uniform Bankruptcy Law; PROMESA; Puerto Rico Oversight (1)
Articles 1 - 2 of 2
Full-Text Articles in Legal History
Promesa And The Bankruptcy Clause: A Reminder About Uniformity, Stephen J. Lubben
Promesa And The Bankruptcy Clause: A Reminder About Uniformity, Stephen J. Lubben
Brooklyn Journal of Corporate, Financial & Commercial Law
The Bankruptcy Clause—Article I, Section 8, Clause 4—provides that “The Congress shall have power . . . [t]o establish . . . uniform Laws on the subject of Bankruptcies throughout the United States . . . .”[1] But Congress has just enacted a bankruptcy law that applies to a single American territory. In early May 2017, Puerto Rico and one affiliated entity filed a petition under this new law. In late May, the Employees Retirement System commenced a case, along with the Puerto Rico Highway and Transportation Authority. Other Puerto Rican sub-entities are expected to follow. I use this short …
Decision-Making And The Shaky Property Foundations Of Municipal Bankruptcy Law, Juliet M. Moringiello
Decision-Making And The Shaky Property Foundations Of Municipal Bankruptcy Law, Juliet M. Moringiello
Brooklyn Journal of Corporate, Financial & Commercial Law
Municipal bankruptcies are unpredictable. There are several reasons for this statement— municipal bankruptcies are rare, involvement of the state itself in the process varies according to the governing state law, and chapter 9, the Bankruptcy Code chapter governing the municipal bankruptcy process, has many gaps. Congress constructed the modern chapter 9 on a foundation of corporate bankruptcy law, a foundation whose roots—corporate finance—are significantly different from the rules governing municipal finance. In this Article, Professor Moringiello aims a spotlight on the property roots of private bankruptcy law and compares them to the promissory and statutory roots of municipal finance law …