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Full-Text Articles in Legal History
Foreword: Bankruptcy’S New And Old Frontiers, William W. Bratton, David A. Skeel Jr.
Foreword: Bankruptcy’S New And Old Frontiers, William W. Bratton, David A. Skeel Jr.
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This Symposium marks the fortieth anniversary of the enactment of the 1978 Bankruptcy Code (the “1978 Code” or the “Code”) with an extended look at seismic changes that currently are reshaping Chapter 11 reorganization. Today’s typical Chapter 11 case looks radically different than did the typical case in the Code’s early years. In those days, Chapter 11 afforded debtors a cozy haven. Most everything that mattered occurred within the context of the formal proceeding, where the debtor enjoyed agenda control, a leisurely timetable, and judicial solicitude. The safe haven steadily disappeared over time, displaced by a range of countervailing forces …
Shareholder Litigation: The Accidental Elegance Of Aronson V. Lewis, David A. Skeel Jr.
Shareholder Litigation: The Accidental Elegance Of Aronson V. Lewis, David A. Skeel Jr.
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Unlike many key corporate law decisions, the 1984 Delaware Supreme Court decision in Aronson v. Lewis was not heralded by stories in the Wall Street Journal and New York Times, nor in any other newspaper of note. Even now, few people other than corporate law experts are likely to recognize the name. Yet Aronson plays a pivotal role in many corporate law decisions that do get a lot more attention. Aronson established the parameters for filing derivative litigation against the directors of a corporation (or a third party, but derivative suits against third parties are now rare). A shareholder …