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Modular Bankruptcy: Toward A Consumer Scheme Of Arrangement, John A. E. Pottow
Modular Bankruptcy: Toward A Consumer Scheme Of Arrangement, John A. E. Pottow
Law & Economics Working Papers
The world of international bankruptcy has seen increasing use of the versatile scheme of arrangement, a form of corporate reorganization available under English law. A key feature of the scheme is its modularity, whereby a debtor can restructure only a single class of debt, such as bond indentures, without affecting other debt, such as trade. This is the opposite of chapter 11 of the U.S. Bankruptcy Code’s comprehensive reckoning of all financial stakeholders. This article considers a novel idea: could the scheme be transplanted into the consumer realm? It argues that it could and should. Substantial benefits of more individually …
Rethinking Criminal Contempt In The Bankruptcy Courts, John A. E. Pottow, Jason S. Levin
Rethinking Criminal Contempt In The Bankruptcy Courts, John A. E. Pottow, Jason S. Levin
Law & Economics Working Papers
A surprising number of courts believe that bankruptcy judges lack authority to impose criminal contempt sanctions. We attempt to rectify this misunderstanding with a march through the historical treatment of contempt-like powers in bankruptcy, the painful statutory history of the 1978 Bankruptcy Code (including the exciting history of likely repealed 28 U.S.C. § 1481), and the various apposite rules of procedure. (Fans of the All Writs Act will delight in its inclusion.) But the principal service we offer to the bankruptcy community is dismantling the ubiquitous and persistent belief that there is some form of constitutional infirmity with "mere" bankruptcy …