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Full-Text Articles in Law

The Indentured Generation: Bankruptcy And Student Loan Debt, Daniel Austin Dec 2012

The Indentured Generation: Bankruptcy And Student Loan Debt, Daniel Austin

Daniel A. Austin

A generation of Americans has borrowed heavily for their education, and hundreds of thousands of them are deeply in debt. Some 37 million Americans owe a total of approximately $1 trillion dollars in student loans. They constitute an Indentured Generation as many of them will be paying student loan debt for much of their lives. Some will eventually pay their loans, others will obtain full or partial loan forgiveness, and many will default or die before completing payments. Members of the Indentured Generation in particularly dire circumstances will look to consumer bankruptcy for relief. But with very few exceptions, student …


Involuntary Bankruptcy As Debt Collection: Multi-Jurisdictional Lessons In Choosing The Right Tool For The Job, Adrian Walters Dec 2012

Involuntary Bankruptcy As Debt Collection: Multi-Jurisdictional Lessons In Choosing The Right Tool For The Job, Adrian Walters

Adrian J Walters

This paper contrasts the usage of creditor-initiated or 'involuntary' bankruptcy in England, the Netherlands and the United States, and it presents empirical evidence to reveal and explain stark divergences among these three otherwise very similar systems. US practice is consistent with the hypothesis that involuntary bankruptcy should represent a rare exception to the ordinary process of individual claims enforcement. Elevated levels of involuntary bankruptcy in England and the Netherlands pose a theoretical and practical conundrum. Analysis of empirical data suggests that involuntary bankruptcy is commonly used in England and the Netherlands for deleterious purposes inconsistent with the modern goals of …


Graduating With Debt: Student Loans Under The Bankruptcy Code, Daniel Austin, Susan Hauser Dec 2012

Graduating With Debt: Student Loans Under The Bankruptcy Code, Daniel Austin, Susan Hauser

Daniel A. Austin

Student loan debt in the US exceeds $1.1 trillion — more than any other type of consumer debt except for mortgage loans — while new education lending continues at an explosive pace. In this book, the authors offer expert knowledge to enable bankruptcy and consumer credit professionals to assist clients in dealing with student loan debt. The book introduces readers to the basics of student loan debt, including different types of loans and loan-forgiveness programs, delinquency and default, and administrative and non-judicial remedies for borrowers having trouble repaying their loans.


Improving Fraudulent Transfer Law In Leverage Buy-Outs Through Judicial Certainty & Reliability, Vincent V. Hilldrup Dec 2012

Improving Fraudulent Transfer Law In Leverage Buy-Outs Through Judicial Certainty & Reliability, Vincent V. Hilldrup

Vincent V. Hilldrup

LBOs that file for bankruptcy are routinely challenged under fraudulent transfer law, where plaintiffs allege that the LBO unreasonably reduced the target’s liquidity and capital adequacy, saddled it with debt and was completed as a means of funneling company assets to both current and former shareholders. These cases will bestow upon bankruptcy courts the responsibility and power of efficiently allocating billions of dollars to classes of creditors and clawing back funds from shareholders. Since these cases will have a crucial impact on the overall economy, it is imperative that bankruptcy courts wield their authority and power in a predictable, fair, …


Certainty Of Title: Perspectives After The Mortgage Foreclosure Crisis On The Essential Function Of Effective Recording Systems, Donald J. Kochan Dec 2012

Certainty Of Title: Perspectives After The Mortgage Foreclosure Crisis On The Essential Function Of Effective Recording Systems, Donald J. Kochan

Donald J. Kochan

Recording systems for property play a pivotal, market-facilitating role for the players engaged in any transaction, the judiciary that must resolve disputes between the players, and others members of the general public by informing each about the true nature of ownership of the real property things in the world. This symposium article explores the essential character of such systems in providing certainty of title, and takes a tour through the mortgage foreclosure crisis to see where adherence to and respect for these systems’ roles broke down. Leading up to the crisis, as securitization became vogue and the housing boom blurred …