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Why Banks Are Not Allowed In Bankruptcy, Richard M. Hynes, Steven D. Walt
Why Banks Are Not Allowed In Bankruptcy, Richard M. Hynes, Steven D. Walt
Washington and Lee Law Review
Unlike most other countries, the United States uses different Procedures to resolve insolvent banks and nonbank firms. The Bankruptcy Code divides control over nonbank firms among the various claimants, and a judge supervises the resolution process. By contrast, the FDIC acts as the receiver for an insolvent bank and has almost complete con trol. Other claimants can sue the FDIC, but they cannot obtain injunctive relief and their damages are limited to the amount that they would have received in liquidation. The FDIC has acted as the receiver of insolvent banks since the Great Depression, and the concentration of power …
Racial Dimensions Of Credit And Bankruptcy, David A. Skeel, Jr.
Racial Dimensions Of Credit And Bankruptcy, David A. Skeel, Jr.
Washington and Lee Law Review
No abstract provided.