Open Access. Powered by Scholars. Published by Universities.®
- Keyword
-
- Corporate reorganization (2)
- Financial distress (2)
- Secured Transactions (2)
- Securities (2)
- Trust Indenture Act (2)
-
- 1978 Bankruptcy Code (1)
- Automatic stay (1)
- Bankrupt brokerage houses (1)
- Bankruptcy (1)
- Bankruptcy Law (1)
- Bankruptcy law (1)
- Bonds (1)
- Business Entities (1)
- Chapter 11 (1)
- Collective action clauses (1)
- Commercial Law (1)
- Consensual agreements (1)
- Corporate finance (1)
- Corporations (1)
- Creditor coercion (1)
- Debt restructuring (1)
- Debtor in possession (1)
- Derivative contracts (1)
- Economics (1)
- Exemptions from bankruptcy protection (1)
- Exit consents (1)
- Financial services (1)
- Intercreditor duty of good faith (1)
- Judges (1)
- Judicial oversight (1)
Articles 1 - 9 of 9
Full-Text Articles in Securities Law
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.
All Faculty Scholarship
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 …
The New Bond Workouts, William W. Bratton, Adam J. Levitin
The New Bond Workouts, William W. Bratton, Adam J. Levitin
All Faculty Scholarship
Bond workouts are a famously dysfunctional method of debt restructuring, ridden with opportunistic and coercive behavior by bondholders and bond issuers. Yet since 2008 bond workouts have quietly started to work. A cognizable portion of the restructuring market has shifted from bankruptcy court to out-of-court workouts by way of exchange offers made only to large institutional investors. The new workouts feature a battery of strong-arm tactics by bond issuers, and aggrieved bondholders have complained in court. The result has been a new, broad reading of the primary law governing workouts, section 316(b) of the Trust Indenture Act of 1939 (“TIA”), …
Bankruptcy Boundary Games, David A. Skeel Jr.
Bankruptcy Boundary Games, David A. Skeel Jr.
All Faculty Scholarship
For the past several decades, Congress has steadily expanded the exclusion of securities market operations from core bankruptcy protections. This Article focuses on three of the most important of these issues: the exclusion of brokerage firms from Chapter 11; the protection of settlement payments from avoidance as preferences or fraudulent conveyances; and the exemption of derivatives from the automatic stay and other basic bankruptcy provisions. In Parts I, II and III of the Article, I consider each of the issues in turn, showing that each has had serious unintended consequences. Both Drexel Burnham and Lehman Brothers evaded the brokerage exclusion, …
Venture Capital On The Downside: Preferred Stock And Corporate Control, William W. Bratton
Venture Capital On The Downside: Preferred Stock And Corporate Control, William W. Bratton
All Faculty Scholarship
No abstract provided.
Revised Article 9 Meets The Bankruptcy Code: Policy And Impact, (With C. Mooney, Jr.)., Steven L. Harris
Revised Article 9 Meets The Bankruptcy Code: Policy And Impact, (With C. Mooney, Jr.)., Steven L. Harris
All Faculty Scholarship
No abstract provided.
Understanding Lockups: Effects In Bankruptcy And The Market For Corporate Control, Kermit Roosevelt Iii
Understanding Lockups: Effects In Bankruptcy And The Market For Corporate Control, Kermit Roosevelt Iii
All Faculty Scholarship
The article investigates the effects of lockups, devices used to compensate unsuccessful bidders. Lockups are relevant in contexts in which sales have auction-like characteristics. Bankruptcy and the market for corporate control are two such situations, since the governing legal regimes prevent sales from being swiftly consummated and require sellers to take the most favorable offer that emerges during the waiting period. Existing scholarship has considered lockups in both areas. The analysis of lockups in the market for corporate control is fairly well developed. This article shows that it is importantly incomplete because it fails both to distinguish between ex ante …
A Property-Based Theory Of Security Interests: Taking Debtor's Choices Seriously, Steven L. Harris, Charles W. Mooney Jr.
A Property-Based Theory Of Security Interests: Taking Debtor's Choices Seriously, Steven L. Harris, Charles W. Mooney Jr.
All Faculty Scholarship
No abstract provided.
Markets, Courts, And The Brave New World Of Bankruptcy Theory, David A. Skeel Jr.
Markets, Courts, And The Brave New World Of Bankruptcy Theory, David A. Skeel Jr.
All Faculty Scholarship
No abstract provided.
Beyond Negotiability: A New Model For Transfer And Pledge Of Interests In Securities Controlled By Intermediaries, Charles W. Mooney Jr.
Beyond Negotiability: A New Model For Transfer And Pledge Of Interests In Securities Controlled By Intermediaries, Charles W. Mooney Jr.
All Faculty Scholarship
No abstract provided.