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Full-Text Articles in Law
A Sea Change In Creditor Priorities, Kristen Van De Biezenbos
A Sea Change In Creditor Priorities, Kristen Van De Biezenbos
University of Michigan Journal of Law Reform
This Article argues that the operation of maritime law undermines a primary justification for creditor priorities under U.S. law. Under current law, when a debtor becomes insolvent, its secured creditors will be paid the full amount of their debt to the extent of their security interest, even if that leaves nothing to pay unsecured creditors. This is controversial with respect to involuntary unsecured creditors, particularly those with tort claims against the debtor. Defenders of this scheme of priorities have argued that allowing greater priority to involuntary creditors would hinder the availability or increase the cost of credit. However, involuntary creditors …
Legal Pluralism In Tort Law Theory: Balancing Instrumental Theories And Corrective Justice, Benjamin Shmueli
Legal Pluralism In Tort Law Theory: Balancing Instrumental Theories And Corrective Justice, Benjamin Shmueli
University of Michigan Journal of Law Reform
Unified-monistic theories of tort law focus on a single goal, usually corrective justice, distributive justice, or optimal deterrence. Unlike these approaches, mixedpluralistic theories attempt to balance between various goals of tort law by integrating several of the considerations underlying these different goals. These theories of legal pluralism reflect ideological diversity, in this case between different theories of the same legal system. This Article discusses the challenge of legal pluralism to settle the possible collision between different goals of tort law within the framework of tort law theory. Starting from a position of support for the mixed-pluralistic thesis, this Article first …