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How To Get Away With Merger: The American Airlines Bankruptcy, Kelsey Cunningham Osborne, Christopher K. Coleman 2017 University of Tennessee, Knoxville

How To Get Away With Merger: The American Airlines Bankruptcy, Kelsey Cunningham Osborne, Christopher K. Coleman

Chapter 11 Bankruptcy Case Studies

No abstract provided.


Parka Problems: The 2009 Eddie Bauer Bankruptcy, J. Logan Wilson, S. Ashton Smith 2017 University of Tennessee, Knoxville

Parka Problems: The 2009 Eddie Bauer Bankruptcy, J. Logan Wilson, S. Ashton Smith

Chapter 11 Bankruptcy Case Studies

No abstract provided.


Slight Turbulence Ahead: The Chapter 11 Bankruptcy Of Republic Airways, Sam Ferguson, Chad Talbot 2017 University of Tennessee, Knoxville

Slight Turbulence Ahead: The Chapter 11 Bankruptcy Of Republic Airways, Sam Ferguson, Chad Talbot

Chapter 11 Bankruptcy Case Studies

No abstract provided.


How Absolute Is The Absolute Priority Rule In Bankruptcy? The Case For Structured Dismissals, Bruce Grohsgal 2017 College of William & Mary Law School

How Absolute Is The Absolute Priority Rule In Bankruptcy? The Case For Structured Dismissals, Bruce Grohsgal

William & Mary Business Law Review

This Article challenges the view that the absolute priority rule applies to a “structured dismissal” in a chapter 11 bankruptcy case, namely a court-approved settlement of certain claims by or against the debtor followed by the dismissal of the case. Under that view, the bankruptcy court cannot approve a settlement that makes a distribution to holders of junior claims unless it also provides for payment of all senior claims in full. The Supreme Court considered the question in the fall of 2016 in Czyzewski v. Jevic Holding Corp. (In re Jevic Holding Corp.). The question before the Court is: “Whether ...


How Many #Followers Do You Have?: Evaluating The Rise Of Social Media And Issues Concerning In Re Ctli’S Determination That Social Media Accounts Are Property Of The Estate, Patricia A. Leeson 2017 The Catholic University of America, Columbus School of Law

How Many #Followers Do You Have?: Evaluating The Rise Of Social Media And Issues Concerning In Re Ctli’S Determination That Social Media Accounts Are Property Of The Estate, Patricia A. Leeson

Catholic University Law Review

With the rise of social media use, legal disputes have surfaced with litigants looking to the courts to determine issues of ownership and legal authority. As a matter of first impression, a U.S. Bankruptcy Court in Texas held that a Twitter and Facebook social media account were to be regarded as property of the estate pursuant to Section 541 of the Bankruptcy Code. The court analogized the social media accounts to subscriber lists because they provide valuable access to customers. Although the court addressed the question of whether social media applications are to be regarded as property in bankruptcy ...


Rethinking Criminal Contempt In The Bankruptcy Courts, John A. E. Pottow, Jason S. Levin 2017 University of Michigan Law School

Rethinking Criminal Contempt In The Bankruptcy Courts, John A. E. Pottow, Jason S. Levin

Law & Economics Working Papers

A surprising number of courts believe that bankruptcy judges lack authority to impose criminal contempt sanctions. We attempt to rectify this misunderstanding with a march through the historical treatment of contempt-like powers in bankruptcy, the painful statutory history of the 1978 Bankruptcy Code (including the exciting history of likely repealed 28 U.S.C. § 1481), and the various apposite rules of procedure. (Fans of the All Writs Act will delight in its inclusion.) But the principal service we offer to the bankruptcy community is dismantling the ubiquitous and persistent belief that there is some form of constitutional infirmity with "mere ...


The New Bond Workouts, William W. Bratton, Adam J. Levitin 2017 University of Pennsylvania Law School

The New Bond Workouts, William W. Bratton, Adam J. Levitin

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 ...


The Empty Idea Of “Equality Of Creditors”, David A. Skeel Jr. 2017 University of Pennsylvania Law School

The Empty Idea Of “Equality Of Creditors”, David A. Skeel Jr.

Faculty Scholarship

For two hundred years, the equality of creditors norm—the idea that similarly situated creditors should be treated similarly—has been widely viewed as the most important principle in American bankruptcy law, rivaled only by our commitment to a fresh start for honest but unfortunate debtors. I argue in this Article that the accolades are misplaced. Although the equality norm once was a rough proxy for legitimate concerns, such as curbing self-dealing, it no longer plays this role. Nor does it serve any other beneficial purpose.

Part I of this Article traces the historical emergence and evolution of the equality ...


The Role Of History And Culture In Developing Bankruptcy And Insolvency Systems: The Perils Of Legal Transplantation, Nathalie Martin 2017 Selected Works

The Role Of History And Culture In Developing Bankruptcy And Insolvency Systems: The Perils Of Legal Transplantation, Nathalie Martin

Nathalie Martin

In this Article, Professor Nathalie Martin examines societal attitudes toward debt and financial failure in the context of two global trends, the liberalization of bankruptcy and insolvency laws, and the increased availability of consumer credit around the world. The Article begins with a description of the history of the U.S. economy, its risk-oriented capitalist ethos, its consumer culture, and its resulting consumer and business bankruptcy laws. The Article next briefly addresses the personal bankruptcy systems of Continental Europe, noting that in some places, U.S.-style bankruptcy systems have been enacted but not necessarily accepted. Professor Martin then discusses ...


Bankruptcy, Honorable Harlin D. Hale, Amber M. Carson 2017 Northern District of Texas

Bankruptcy, Honorable Harlin D. Hale, Amber M. Carson

SMU Annual Texas Survey

No abstract provided.


The Fresh Start Canon, Jonathon S. Byington 2017 Alexander Blewett III School of Law at the University of Montana

The Fresh Start Canon, Jonathon S. Byington

Faculty Law Review Articles

A primary policy of bankruptcy law is to give consumer debtors a “fresh start” by discharging their debt. A rival policy is that the discharge of debt is a selectively conferred privilege that is not granted in some situations. For example, society is unwilling to pardon debt related to embezzlement or a domestic-support obligation. This “discharge restrictions” policy is manifested in part by the Bankruptcy Code’s exceptions to discharge. The U.S. Supreme Court has repeatedly recognized the tension between the fresh start and discharge restriction policies. It has sought to achieve a fair balance between these policies by ...


Bankruptcy On The Side, Kenneth Ayotte, Anthony J. Casey, David A. Skeel Jr. 2017 University of California - Berkeley

Bankruptcy On The Side, Kenneth Ayotte, Anthony J. Casey, David A. Skeel Jr.

Faculty Scholarship

This article provides a framework for analyzing side agreements in corporate bankruptcy, such as intercreditor and “bad boy” agreements. These agreements are controversial because they commonly include a promise by one party to remain silent – to waive some procedural right they would otherwise have under the Bankruptcy Code – at potentially crucial points in the reorganization process.

Using simplified examples, we show that side agreements create benefits in some instances, but parties to a side agreement may have incentive to contract for specific performance or excessive stipulated damages that impose negative externalities on non-parties to the agreement. A promise not to ...


National Study Of Individual Chapter 11 Bankruptcies, Richard M. Hynes, Anne Lawton, Margaret Howard 2017 Michigan State University College of Law

National Study Of Individual Chapter 11 Bankruptcies, Richard M. Hynes, Anne Lawton, Margaret Howard

Faculty Publications

No abstract provided.


Rethinking Chapter 13, Lawrence Ponoroff 2017 Michigan State University College of Law

Rethinking Chapter 13, Lawrence Ponoroff

Faculty Publications

No abstract provided.


The Triage And Treatment Of Healthcare Institutions In Distress: How To Involve State Regulators In Healthcare Bankruptcies And Receiverships, Brian P. Stern, Christopher J. Fragomeni 2017 R.I. Superior Court

The Triage And Treatment Of Healthcare Institutions In Distress: How To Involve State Regulators In Healthcare Bankruptcies And Receiverships, Brian P. Stern, Christopher J. Fragomeni

Roger Williams University Law Review

No abstract provided.


When Social Enterprises Fail, Jonathan Brown 2017 Elisabeth Haub School of Law at Pace University

When Social Enterprises Fail, Jonathan Brown

Pace Law Faculty Publications

This Article identifies the conflicts between social enterprise legislation and bankruptcy law and presents a normative argument for a legal regime that would harmonize the two. Focusing on benefit corporations, the most widely adopted social enterprise form, this Article observes that existing law leaves uncertainty as to the role of directors at a time of financial distress and will produce outcomes that are at odds with the core goals of social enterprise legislation. Then, drawing on academic proposals for contract-based systems of bankruptcy, this Article argues that just as a firm may opt out of a corporate governance norm of ...


Federal Policy For Financially-Distressed Subnational Governments: The U.S. States And Puerto Rico, Cheryl D. Block 2017 Washington University School of Law

Federal Policy For Financially-Distressed Subnational Governments: The U.S. States And Puerto Rico, Cheryl D. Block

Washington University Journal of Law & Policy

This Article addresses the aftermath of the Great Recession specifically focusing on its effects at the local and statewide levels. Block uses the financial situation in Puerto Rico to detail the common presumption against the use of federal government assistance to financially-distressed subnational governments. Block then analyzes rebuttal arguments that the states and Puerto Rico might use to overcome the initial presumption against federal assistance and gives suggestions to facilitate the structuring of relief efforts in the rare circumstances when federal intervention is warranted.


The Policy Of Federal Student Loans: Looking Backward And Looking Forward, Aaron Mohr 2017 Washington University School of Law

The Policy Of Federal Student Loans: Looking Backward And Looking Forward, Aaron Mohr

Washington University Journal of Law & Policy

This Note addresses the discrepancies between inflation rates and the cost of higher learning, particularly as a new generation of students finds it more difficult to pursue additional education because student loan burdens continue to outpace real wages. Mohr examines various contributing factors in this imbalance, including rises in tuition costs, the widespread availability of loans, and the difficulty in discharging these debts, to identify the source of the problem. Mohr suggests that the underlying issue is the rising costs of higher education as a function of the availability of loans, and recommends a system of limits on borrowing that ...


Beyond The Great Divide: Federalism Concerns In Municipal Insolvency, Andrew B. Dawson 2017 University of Miami School of Law

Beyond The Great Divide: Federalism Concerns In Municipal Insolvency, Andrew B. Dawson

Articles

No abstract provided.


Nine To Eleven: Accounting For Common Interest Communities In Bankruptcy, C. Scott Pryor 2017 Campbell University School of Law

Nine To Eleven: Accounting For Common Interest Communities In Bankruptcy, C. Scott Pryor

Scholarly Works

Ever more Americans live in a common interest community such as a homeowners’ association or condominium. Common interest communities restrict the uses owners may make of their property but provide benefits to the owners. The community association pays for these benefits by levying assessments on the owners’ property. Common interest communities offer a wide variety of benefits that can be divided into two sorts: public and private. Local municipalities typically provide public benefits at taxpayer expense; private entities usually afford private benefits at the consumer’s expense.

Like both public and private entities, common interest communities can experience the problem ...


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