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Bankruptcy Law Commons

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2,182 full-text articles. Page 7 of 45.

Zombieland/The Detroit Bankruptcy: Why Debts Associated With Pensions, Benefits, And Municipal Securities Never Die. . . And How They Are Killing Cities Like Detroit, Christine Sgarlata Chung 2016 Fordham Law School

Zombieland/The Detroit Bankruptcy: Why Debts Associated With Pensions, Benefits, And Municipal Securities Never Die. . . And How They Are Killing Cities Like Detroit, Christine Sgarlata Chung

Fordham Urban Law Journal

No abstract provided.


Resolving The Public Pension "Crisis", Jack M. Beermann 2016 Boston University School of Law

Resolving The Public Pension "Crisis", Jack M. Beermann

Fordham Urban Law Journal

No abstract provided.


Modifying Or Terminating Pension Plans Through Chapter 9 Bankruptcies With A Focus On California, Joanne Lau 2016 Fordham University School of Law

Modifying Or Terminating Pension Plans Through Chapter 9 Bankruptcies With A Focus On California, Joanne Lau

Fordham Urban Law Journal

No abstract provided.


A Two-Step Plan For Puerto Rico, Clayton P. Gillette, David A. Skeel Jr. 2016 New York University School of Law

A Two-Step Plan For Puerto Rico, Clayton P. Gillette, David A. Skeel Jr.

Faculty Scholarship

Few still believe that Puerto Rico is capable of meeting all of its financial obligations and continuing to provide basic services. The territory is already in default, and conditions are rapidly deteriorating. Is there a way forward? We think there is. In this short article, we outline a two-part plan for correcting Puerto Rico’s most urgent fiscal and financial problems.

The first step is to create an independent financial control board that has authority over Puerto Rico’s budgets and related issues. Notwithstanding concerns that an externally imposed financial control board (FCB) may interfere with the decision making processes ...


Bringing Continuity To Cryptocurrency: Commercial Law As A Guide To The Asset Categorization Of Bitcoin, Evan Hewitt 2016 Seattle University School of Law

Bringing Continuity To Cryptocurrency: Commercial Law As A Guide To The Asset Categorization Of Bitcoin, Evan Hewitt

Seattle University Law Review

This Note will undertake to analyze bitcoin under the Uniform Commercial Code (UCC) and the Internal Revenue Code (IRC)—two important sources of commercial law—to see whether any existing asset categories adequately protect bitcoin’s commercial viability. This Note will demonstrate that although commercial law dictates that bitcoin should—nay must—be regulated as a currency in order to sustain its existence, the very definition of currency seems to preclude that from happening. Therefore, this Note will recommend that we experiment with a new type of asset that receives currency-like treatment, specifically designed for cryptocurrencies, under which bitcoin can ...


From Wreckage Comes Reason: How Detroit’S Chapter 9 Filing Helps Develop A Practicable And Principled “Good Faith” Standard, Scott A. Krystiniak 2016 College of William & Mary Law School

From Wreckage Comes Reason: How Detroit’S Chapter 9 Filing Helps Develop A Practicable And Principled “Good Faith” Standard, Scott A. Krystiniak

William & Mary Business Law Review

The city of Detroit is beginning to rise from the ashes following decades of fiscal ineptitude, social failure, and corruption. Bolstered by protections under Chapter 9 of the Bankruptcy Code, Detroit has eliminated billions of dollars in debt and established a feasible plan for municipal reorganization. Now, Detroit is even considered an American “comeback story.” However, Detroit’s revitalization began on a tenuous foundation. The city’s creditors objected vigorously to the bankruptcy petition by claiming that Detroit had not filed its bankruptcy petition in good faith under § 921(c). Despite the relatively scarce and imprecise case law and jurisprudence ...


With Malice Toward One? – Defining Nondischargeability Of Debts For Willful And Malicious Injury Under Section 523(A)(6) Of The Bankrupcy Code, Theresa J. Pulley Radwan 2016 College of William & Mary Law School

With Malice Toward One? – Defining Nondischargeability Of Debts For Willful And Malicious Injury Under Section 523(A)(6) Of The Bankrupcy Code, Theresa J. Pulley Radwan

William & Mary Business Law Review

The federal bankruptcy system strikes a balance between the rights of debtors seeking a fresh start and the rights of creditors seeking repayment for debt. While many areas of the Bankruptcy Code provide examples of this balancing act, perhaps no area of the Code embodies this balance better than discharge of debt. Discharge of debt provides the fresh start for debtors on which the bankruptcy system rests, but the Code also protects the interests of creditors who would otherwise have their claims against the debtor discharged.

Section 523(a)(6) excepts from discharge any debt “for willful and malicious injury ...


A "Sunbeam" Of Hope: The Seventh Circuit's Solution Overcoming Disparaging Treatment To Trademark Licenses Under The Bankruptcy Code, Jarrod N. Cone 2016 University of Georgia School of Law

A "Sunbeam" Of Hope: The Seventh Circuit's Solution Overcoming Disparaging Treatment To Trademark Licenses Under The Bankruptcy Code, Jarrod N. Cone

Journal of Intellectual Property Law

No abstract provided.


The Mass Tort Bankruptcy: A Pre-History, Troy A. McKenzie 2016 NYU School of Law

The Mass Tort Bankruptcy: A Pre-History, Troy A. Mckenzie

New York University Public Law and Legal Theory Working Papers

The history of insolvency schemes as mass tort resolution devices is generally said to begin with the asbestos bankruptcies of the 1980s. This Article brings to light a much earlier example of the resolution of mass tort claims through another insolvency scheme—the equity receivership—that was a precursor to Chapter 11 of the Bankruptcy Code. The Article recounts the creation of a receivership after a fire at the Ringling Brothers circus killed and injured hundreds of spectators. It also describes the maneuvers of the key actors in the case and the legal landscape that explained their resort to a ...


Vindicating Bankruptcy Rights, Kara J. Bruce 2016 University of Maryland Francis King Carey School of Law

Vindicating Bankruptcy Rights, Kara J. Bruce

Maryland Law Review

No abstract provided.


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 ...


Puerto Rico: Of Capital Structures, Control Rights, And Liquidity, Robert Rasmussen 2016 University of Southern California

Puerto Rico: Of Capital Structures, Control Rights, And Liquidity, Robert Rasmussen

University of Southern California Legal Studies Working Paper Series

The on-going financial distress of Puerto Rico seems to be accelerating, with no clear resolution in sight. This essay takes stock of the current situation, and suggests a path forward. It recounts the economic stress the territory has experienced in recent years, and delineates the complex capital structure that has resulted. The essay also argues that the problems that the island faces are as much about control as they are about trimming the current debt stock. The impending lack of liquidity has put Puerto Rico on the brink. It needs Congress to both provide fresh funds while at the same ...


Treating The New European Disease Of Consumer Debt In A Post-Communist State: The Groundbreaking New Russian Personal Insolvency Law, 41 Brook. J. Int'l L. 655 (2016), Jason J. Kilborn 2016 John Marshall Law School

Treating The New European Disease Of Consumer Debt In A Post-Communist State: The Groundbreaking New Russian Personal Insolvency Law, 41 Brook. J. Int'l L. 655 (2016), Jason J. Kilborn

Faculty Scholarship

This article examines the tumultuous transition from restrictive Communism to the debt-fueled consumer economy of modern Russia. In particular, it surveys Russia’s legal response to severe debt distress, situating it in the context of nearly one thousand years of historical development. Effective 1 October 2015, Russia finally joined most of its European neighbors in adopting a personal bankruptcy law, with characteristics that reflect both evolving international best practices and a series of lessons not learned. This article offers the first detailed exposition in English of the two steps forward represented by this new law, as well as an evaluation ...


Incentive For Sale: § 503(C) And Asset Sales Within The Southern District Of New York, Christopher Scavone 2016 Washington University School of Law

Incentive For Sale: § 503(C) And Asset Sales Within The Southern District Of New York, Christopher Scavone

Washington University Journal of Law & Policy

This Note examines the recent shift towards rejecting proposed Key Employee Incentive Plans within the Southern District of New York as highlighted by the Hawker and Residential Capital decisions, and why the current standard is inadequate to address the special concerns that arose in those two cases. Scavone first examines the historical basis for executive compensation in bankruptcy, the formulation of the 2005 BAPCPA amendments, and the cases that followed. Scavone then presents the Hawker and Residential Capital cases, followed by an analysis of why the application of § 503(c) as it currently stands was inadequate for the proposed asset ...


An “Immeasurable Sign Of Great Hope”: The Detroit Institute Of The Arts, Municipal Bankruptcy And “Cultural Assets”, Rebecca Gosch 2016 Washington University School of Law

An “Immeasurable Sign Of Great Hope”: The Detroit Institute Of The Arts, Municipal Bankruptcy And “Cultural Assets”, Rebecca Gosch

Washington University Journal of Law & Policy

No abstract provided.


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 ...


A Missing Piece: The Importance Of Control Over An Undue Hardship In A Request To Discharge Student Loans Through Bankruptcy, Megan E. Niespodziany 2016 University of Kentucky

A Missing Piece: The Importance Of Control Over An Undue Hardship In A Request To Discharge Student Loans Through Bankruptcy, Megan E. Niespodziany

Kentucky Law Journal

No abstract provided.


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 ...


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.


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