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Articles 53101 - 53101 of 53101
Full-Text Articles in Entire DC Network
Bankruptcy Theory And The Creditors' Bargain, David G. Carlson
Bankruptcy Theory And The Creditors' Bargain, David G. Carlson
Articles
The article critiques the traditional "simple creditors' bargain" theory in bankruptcy law, arguing that it fails to align with libertarian principles due to its inability to justify bankruptcy discharges and its exclusion of debtors and non-creditors. It then explores an "expanded creditors' bargain," which attempts to address distributive aspects but ultimately falls short by excluding non-consensual creditors and failing to explain why contractual risk allocation is insufficient. The analysis highlights the theory's shortcomings in handling various creditor types and risks, questioning its validity in explaining bankruptcy law.