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Full-Text Articles in Law
A Capital Market, Corporate Law Approach To Creditor Conduct, Mark J. Roe, Frederico Cenzi Venezze
A Capital Market, Corporate Law Approach To Creditor Conduct, Mark J. Roe, Frederico Cenzi Venezze
Michigan Law Review
The problem of creditor conduct in a distressed firm—-for which policymakers ought to have the distressed firm’s economically sensible repositioning as a central goal—-has vexed courts for decades. Because courts have not come to coherent, stable doctrine to regulate creditor behavior and because they do not focus on building doctrinal structures that would facilitate the sensible repositioning of the distressed firm, social costs arise and those costs may be substantial. One can easily see why developing a good rule here has been hard to achieve: A rule that facilitates creditor intervention in the debtor’s operations beyond the creditor’s ordinary collection …
Bankruptcy-Status Of Claims In Bankruptcy Proceeding Following Default In Chapter Xi Arrangement, Myron J. Nadler S.Ed., L. B. Lea S.Ed
Bankruptcy-Status Of Claims In Bankruptcy Proceeding Following Default In Chapter Xi Arrangement, Myron J. Nadler S.Ed., L. B. Lea S.Ed
Michigan Law Review
A significant question arising under the Bankruptcy Act of 1938 which has not been satisfactorily dealt with by the statute is the relative status, in a bankruptcy proceeding precipitated by the debtor's default under the terms of a chapter XI arrangement, of claims of creditors participating in the arrangement and of those who became creditors after confirmation. Specifically, the problem is whether the old creditors, those who participated in the arrangement, can prove to the amount of their original claims, or merely to the extent of their claims as scaled down by the terms of the arrangement; and whether the …
Powers - Excluding Creditors Of The Donee Of A General Power By Express Provisions By The Donor, S. W. Boyce, Jr.
Powers - Excluding Creditors Of The Donee Of A General Power By Express Provisions By The Donor, S. W. Boyce, Jr.
Michigan Law Review
There is very little authority upon this subject; lawyers seemingly assume that the picture is complicated enough without venturing into new fields. In only two jurisdictions are there actual reported cases where the donor has tried by specific provisions to restrain creditors of the donee.
Corporations - Rights Of Action By The Representative Of Corporate Creditors - Effect Of Corporate Assent, Edward W. Adams
Corporations - Rights Of Action By The Representative Of Corporate Creditors - Effect Of Corporate Assent, Edward W. Adams
Michigan Law Review
By various acts the directors and officers of a corporation--its agents for the conduct of corporate business--may wrong the corporation or make possible a wrong to the corporation or to the body of corporate stockholders. When the corporation becomes involved in insolvency proceedings, in order to make available to creditors as many assets as possible, the receiver or trustee in bankruptcy determines whether some cause of action will lie to recover damages or property, or whether he may successfully defend to preserve assets. If the corporation itself could have been successful in the litigation, the solution would be easy because …
Contracts - Fraud - Implied Representation Of Solvency
Contracts - Fraud - Implied Representation Of Solvency
Michigan Law Review
Defendant, a wholesale grocer, had been losing steadily for months by selling below cost, and had assets of $83,000 against liabilities of $140,000 on Nov. 21, 1929. On that date he accepted a 90-day trade acceptance drawn by claimant for cases of tomato paste which he had ordered, and which claimant now seeks to reclaim on the ground of fraud. On December 3 defendant obtained the goods, and the next day went into involuntary bankruptcy. Held, that the buyer's promise to pay implies belief in reasonable ability to pay, and that concealment of belief to the contrary is fraud …