Open Access. Powered by Scholars. Published by Universities.®

Bankruptcy Law Commons

Open Access. Powered by Scholars. Published by Universities.®

2150 Full-Text Articles 1280 Authors 758491 Downloads 95 Institutions

All Articles in Bankruptcy Law

Faceted Search

2150 full-text articles. Page 6 of 45.

Pensions Or Paintings?: The Detroit Institute Of Arts From Bankruptcy To Grand Bargain, 24 U. Miami Bus. L. Rev. 1 (2015), Maureen Collins 2016 John Marshall Law School

Pensions Or Paintings?: The Detroit Institute Of Arts From Bankruptcy To Grand Bargain, 24 U. Miami Bus. L. Rev. 1 (2015), Maureen Collins

Maureen B. Collins

This article examines the issues faced by the City of Detroit and the Detroit Institute of Arts when Detroit filed for municipal bankruptcy. Creditors called for the sale of the highly esteemed DIA art collection to pay outstanding municipal pension obligations. The DIA and the Michigan Attorney General viewed the collection not as an asset, but as a charitable public trust. Simply put, the City faced the question of what mattered most – pensions or paintings? Along the way, the parties and courts struggled with valuation of the art collection, a history of judicial decisions and lawmaking regarding charitable trusts with ...


Pensions Or Paintings? The Detroit Institute Of Arts From Bankruptcy To Grand Bargain, Maureen Collins 2016 Selected Works

Pensions Or Paintings? The Detroit Institute Of Arts From Bankruptcy To Grand Bargain, Maureen Collins

Maureen B. Collins

This article examines the issues faced by the City of Detroit and the Detroit Institute of Arts when Detroit filed for municipal bankruptcy. Creditors called for the sale of the highly esteemed DIA art collection to pay outstanding municipal pension obligations. The DIA and the Michigan Attorney General viewed the collection not as an asset, but as a charitable public trust. Simply put, the City faced the question of what mattered most – pensions or paintings? Along the way, the parties and courts struggled with valuation of the art collection, a history of judicial decisions and lawmaking regarding charitable trusts with ...


Disciplining Corporate Boards And Debtholders Through Targeted Proxy Access, Michelle M. Harner 2016 University of Maryland School of Law

Disciplining Corporate Boards And Debtholders Through Targeted Proxy Access, Michelle M. Harner

Faculty Scholarship

Corporate directors committed to a failed business strategy or unduly influenced by the company’s debtholders need a dissenting voice—they need shareholder nominees on the board. This article examines the bias, conflicts, and external factors that impact board decisions, particularly when a company faces financial distress. It challenges the conventional wisdom that debt disciplines management, and it suggests that, in certain circumstances, the company would benefit from having the shareholders’ perspective more actively represented on the board. To that end, the article proposes a bylaw that would give shareholders the ability to nominate directors upon the occurrence of predefined ...


In Re Skymall: The Crash Of Skymall And The Take Off Of 363(B) Sales, Spencer Cook, Garett Franklyn 2016 University of Tennessee, Knoxville

In Re Skymall: The Crash Of Skymall And The Take Off Of 363(B) Sales, Spencer Cook, Garett Franklyn

Chapter 11 Bankruptcy Case Studies

No abstract provided.


A Horse Divided: Colt's Second Bankruptcy, Samuel C. Louderback, Preston D. Matthews, Joshua R. Nunnally 2016 University of Tennessee, Knoxville

A Horse Divided: Colt's Second Bankruptcy, Samuel C. Louderback, Preston D. Matthews, Joshua R. Nunnally

Chapter 11 Bankruptcy Case Studies

No abstract provided.


Schwab Industries: Competing And Shifting Interests In Chapter 11 Bankruptcy, Trey Buckley, Hannah Kay Hurt, Hunter Threet 2016 University of Tennessee, Knoxville

Schwab Industries: Competing And Shifting Interests In Chapter 11 Bankruptcy, Trey Buckley, Hannah Kay Hurt, Hunter Threet

Chapter 11 Bankruptcy Case Studies

No abstract provided.


Forest Park Medical At Frisco, Llc.: The Decline Of One Structure And The Rise Of Another, Lori Lynn Millsaps 2016 University of Tennessee, Knoxville

Forest Park Medical At Frisco, Llc.: The Decline Of One Structure And The Rise Of Another, Lori Lynn Millsaps

Chapter 11 Bankruptcy Case Studies

This paper discusses the bankruptcy and restructuring that Forest Medical Center at Frisco (Texas) recently underwent in order to return the hospital to profitability. The discussion begins with a summary of the hospital’s corporate history and founding and an introduction to the key players in the restructuring process, including the relevant circumstances and management figures responsible for the considerable financial problems that led Forest Medical Center to have to make a Chapter 11 filing. The paper provides an account of the bankruptcy proceedings from the hospital’s pre-petition plan to the court’s confirmation of the debtor’s re-organization ...


Changes To Bankruptcy Forms And Pending Bankruptcy Rule Changes, Kathleen Klepfer 2016 University of Richmond

Changes To Bankruptcy Forms And Pending Bankruptcy Rule Changes, Kathleen Klepfer

Law Faculty Publications

Nearly every form used by the bankruptcy courts went through a significant overhaul in December as part of a seven-year project designed to streamline the filing process. The voluntary petition—old Form B1—has now been split into three separate forms: B101 for individual debtors, B201 for nonindividual debtors, and B401 for foreign proceedings. This overhaul altered the format of most additional forms and schedules, including the internal “director’s forms,” all of which are now available on the court’s main form page. Because most form numbers changed as well, the courts have provided a conversion chart that aligns ...


Governance Reform And The Judicial Role In Municipal Bankruptcy, Clayton P. Gillette, David A. Skeel Jr. 2016 New York University

Governance Reform And The Judicial Role In Municipal Bankruptcy, Clayton P. Gillette, David A. Skeel Jr.

Faculty Scholarship

Recent proceedings involving large municipalities such as Detroit, Stockton, and Vallejo illustrate both the utility and the limitations of using the Bankruptcy Code to adjust municipal debt. In this article, we contend that, to truly resolve the distress of a substantial city, municipal bankruptcy needs to do more than simply provide immediate debt relief. Debt adjustment alone does nothing to remedy the fragmented decision-making and incentives for expanding municipal budgets that underlie municipal distress. Unless bankruptcy also addresses governance dysfunction, the city may slide right back into financial crisis. Governance restructuring has long been an essential element of corporate bankruptcy ...


Colder Than A Landlord's Heart? Reconciling A Debtor's Authority To Sell Property Free And Clear Of A Lease Under Bankruptcy Code Section 363(F) With The Tenant's Right To Remain In Possession On A Lease Rejection Under Bankruptcy Code Section 365(H), Bruce Grohsgal 2016 Delaware Law School, Widener University

Colder Than A Landlord's Heart? Reconciling A Debtor's Authority To Sell Property Free And Clear Of A Lease Under Bankruptcy Code Section 363(F) With The Tenant's Right To Remain In Possession On A Lease Rejection Under Bankruptcy Code Section 365(H), Bruce Grohsgal

Marquette Law Review

The question examined in this Article is a simple one—Can a tenant with a right to possession under section 365(h) of the Bankruptcy Code be ousted from possession by a free and clear sale of the real property by the debtor-landlord pursuant to section 363(f) of the Bankruptcy Code? The Seventh Circuit, the only court of appeals to have considered the issue, said “yes” in Precision Industries, Inc. v. Qualitech Steel SBQ, LLC and authorized a sale free and clear of the lease and the tenant’s right to remain in possession. Subsequent decisions from the district ...


A No-Tribunal Sdrm And The Means Of Binding Creditors To The Terms Of A Restructuring Plan, Charles W. Mooney Jr. 2016 University of Pennsylvania Law School

A No-Tribunal Sdrm And The Means Of Binding Creditors To The Terms Of A Restructuring Plan, Charles W. Mooney Jr.

Faculty Scholarship

The paper addresses two discrete but related and essential attributes of a sovereign debt restructuring mechanism (SDRM). It first considers the merits and feasibility of an SDRM that would provide a procedure for proposing and adopting a restructuring plan for a sovereign debtor’s debt which would not involve any tribunal or administrator (a No-Tribunal SDRM). The No-Tribunal SDRM would undertake the restructuring as if the sovereign debtor and its creditors were subject to the Model CAC regime. In addition to embodying a novel and interesting structure for an SDRM—and one that eliminates the difficult hurdle of identifying a ...


Governmental Intervention In An Economic Crisis, Robert K. Rasmussen, David A. Skeel Jr. 2016 University of Southern California Law

Governmental Intervention In An Economic Crisis, Robert K. Rasmussen, David A. Skeel Jr.

Faculty Scholarship

This paper articulates a framework both for assessing the various government bailouts that took place at the onset of Great Recession and for guiding future rescue efforts when they become necessary. The goals for those engineering a bailout should be to be as transparent as possible, to articulate clearly the reason for the intervention, to respect existing priorities among investors, to exercise control only at the top level where such efforts can be seen by the public, and to exit as soon as possible. By these metrics, some of the recent bailouts should be applauded, while others fell short. We ...


Fiduciary Capacity And The Bankruptcy Discharge, Jonathon S. Byington 2016 Alexander Blewett III School of Law at the University of Montana

Fiduciary Capacity And The Bankruptcy Discharge, Jonathon S. Byington

Faculty Law Review Articles

Bankruptcy law has fiercely competing policies. A primary one is the debtor's fresh start. Another is that discharge of debt is a selectively conferred privilege rather than an unlimited right. This latter policy is manifested in part by the Bankruptcy Code's exceptions to discharge. One exception involves a debt "for . . . defalcation while acting in a fiduciary capacity."1 In 2013, the Supreme Court addressed the meaning of the term "defalcation" and established a new, heightened mental standard based on the Model Penal Code's definition of recklessly.2 The meaning of the term "fiduciary capacity" is not clear ...


Restructuring Municipal Bankruptcy, Laura Napoli Coordes 2016 SJ Quinney College of Law, University of Utah

Restructuring Municipal Bankruptcy, Laura Napoli Coordes

Utah Law Review

What sorts of legal relief should be available to a municipality in financial distress? Chapter 9 of the Bankruptcy Code has served as an option of last resort for many municipalities over the years. But as this Article illustrates, Chapter 9 arguably falls short of an effective solution and at times seems to contravene the foundational principles underlying bankruptcy law. By examining recent Chapter 9 filings, this Article presents a comprehensive analysis of how and why Chapter 9 has failed to address the problems that characterize municipal insolvencies. It argues that Chapter 9, in both practice and principle, has proved ...


Whither Recharacterization, Lawrence Ponoroff 2016 Michigan State University College of Law

Whither Recharacterization, Lawrence Ponoroff

Faculty Publications

No abstract provided.


Bankruptcy Preferences: Recalcitrant Passengers Aboard The Flight From Creditor Equality, Lawrence Ponoroff 2016 Michigan State University College of Law

Bankruptcy Preferences: Recalcitrant Passengers Aboard The Flight From Creditor Equality, Lawrence Ponoroff

Faculty Publications

No abstract provided.


Musings On Bapcpa And The Individual Chapter 11 Debtor, Anne Lawton 2016 Michigan State University College of Law

Musings On Bapcpa And The Individual Chapter 11 Debtor, Anne Lawton

Faculty Publications

No abstract provided.


When All Else Fails: The Evolution Of Customer Asset Protections After Brokerage Bankruptcy, Ronald H. Filler 2016 New York Law School

When All Else Fails: The Evolution Of Customer Asset Protections After Brokerage Bankruptcy, Ronald H. Filler

Articles & Chapters

No abstract provided.


Consent, Coercion, And Bankruptcy Administration, S. Todd Brown 2016 University of Maryland Francis King Carey School of Law

Consent, Coercion, And Bankruptcy Administration, S. Todd Brown

Journal of Business & Technology Law

No abstract provided.


The Modernization Of European Insolvency Law: An Ongoing Process, Paolo Manganelli 2016 University of Maryland Francis King Carey School of Law

The Modernization Of European Insolvency Law: An Ongoing Process, Paolo Manganelli

Journal of Business & Technology Law

No abstract provided.


Digital Commons powered by bepress