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University of Miami Law School

Bankruptcy Law

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Full-Text Articles in Law

Due Process Alignment In Mass Restructurings, Sergio J. Campos, Samir D. Parikh Nov 2022

Due Process Alignment In Mass Restructurings, Sergio J. Campos, Samir D. Parikh

Articles

Mass tort defendants have recently begun exiting multidistrict litigation by filing for bankruptcy. This new strategy ushers defendants into a far more hospitable forum that offers accelerated resolution of all state and federal claims held by both current and future victims.

Bankruptcy's structural, procedural, and substantive benefits also provide defendants with unique optionality. Bankruptcy's resolution promise is alluring, but the process relies on a very large assumption: that future victims can be compelled to relinquish property rights in their cause of action against the corporate defendant and others without consent or notice. Bankruptcy builds an entire resolution structure on the …


Unrules, Gabriel Scheffler, Cary Coglianese, Daniel E. Walters Apr 2021

Unrules, Gabriel Scheffler, Cary Coglianese, Daniel E. Walters

Articles

At the center of contemporary debates over public law lies administrative agencies' discretion to impose rules. Yet for every one of these rules, there are also unrules nearby. Often overlooked and sometimes barely visible, unrules are the decisions that regulators make to lift or limit the scope of a regulatory obligation through, for instance, waivers, exemptions, or exceptions. In some cases, unrules enable regulators to reduce burdens on regulated entities or to conserve valuable government resources in ways that make law more efficient. However, too much discretion to create unrules can facilitate undue business influence over the law, weaken regulatory …


Selling Out, Andrew B. Dawson Jan 2020

Selling Out, Andrew B. Dawson

Articles

When bankruptcy policy competes with other federal and state regulatory policies, which should take priority? Bankruptcy law, provided it is used to save a struggling business from having to close its doors. Bankruptcy's supremacy, then, can preserve the debtor's going concern value, save jobs, and limit the collateral damage from a business failure. But should this bankruptcy supremacy apply only when the debtor is pursuing a traditional reorganization under chapter 11, or should it also apply when bankruptcy is used to bring about a quick sale of substantially all of the debtor's assets?

This Article addresses this question in the …


Modularity In Cross-Border Insolvency, Andrew B. Dawson Jan 2018

Modularity In Cross-Border Insolvency, Andrew B. Dawson

Articles

No abstract provided.


Beyond The Great Divide: Federalism Concerns In Municipal Insolvency, Andrew B. Dawson Jan 2017

Beyond The Great Divide: Federalism Concerns In Municipal Insolvency, Andrew B. Dawson

Articles

No abstract provided.


Better Than Bankruptcy?, Andrew B. Dawson Jan 2016

Better Than Bankruptcy?, Andrew B. Dawson

Articles

According to many in the bankruptcy field, small business debtors are increasingly turning to state debtor-creditors laws as an alternative to federal bankruptcy relief. One particularly popular state law is the assignment for the benefit of creditors. The conventional wisdom is that these procedures provide a state law alternative to liquidate a business.

This article reports the results of an original empirical study that challenges this conventional wisdom. Gathering data from every assignment for the benefit of creditors in a major metropolitan area over a three-year period, this study shows that debtors and their secured creditors are using these procedures …


The Problem Of Local Methods In Cross-Border Insolvencies, Andrew B. Dawson Jan 2015

The Problem Of Local Methods In Cross-Border Insolvencies, Andrew B. Dawson

Articles

No abstract provided.


Labor Activism In Bankruptcy, Andrew B. Dawson Jan 2015

Labor Activism In Bankruptcy, Andrew B. Dawson

Articles

This article analyzes the role of labor unions in corporate reorganizations and argues that labor union participation can improve corporate governance in the bankruptcy context. Generally, when a unionized corporation seeks to reorganize in bankruptcy, it does so with an eye towards obtaining concessions from its labor unions. The Bankruptcy Code permits corporate debtors to reject their collective bargaining agreements and to impose reduced wages and benefits, thus placing labor unions in a position of bargaining over concessions in bankruptcy. Such concession bargaining is vitally important to the labor union and to the debtor's reorganization efforts; however, the focus on …


Pensioners, Bondholders, And Unfair Discrimination In Municipal Bankruptcy, Andrew B. Dawson Jan 2014

Pensioners, Bondholders, And Unfair Discrimination In Municipal Bankruptcy, Andrew B. Dawson

Articles

Detroit recently confirmed its plan of debt adjustment under which the city has endeavored to adjust its pension obligations. The court's confirmation order and oral opinion on the record present what is perhaps the most significant decision regarding a key question facing any city attempting to adjust pensions in bankruptcy: can a city propose to pay its pension claimants significantly more than its other unsecured creditors? This question involves interpreting the Bankruptcy Code's unfair discrimination rule.

The Detroit bankruptcy court applied a novel interpretation of unfair discrimination, eschewing the relatively thin body of case law interpreting this rule, and suggesting …


Collective Bargaining Agreements In Corporate Reorganizations, Andrew B. Dawson Jan 2010

Collective Bargaining Agreements In Corporate Reorganizations, Andrew B. Dawson

Articles

Congress enacted § 1113 to the Bankruptcy Code in 1984 in order to establish a standard for the rejection of Collective Bargaining Agreements. But the statute's ambiguous language has caused a split between the Second and Third Circuits, and has precipitated a lengthy academic debate largely centered on the interpretation of one word: "necessary." This debate has focused on proper statutory interpretation as well as deeper concerns regarding the policy goals behind the Bankruptcy Code. The present study reports data that indicate that the different interpretations are irrelevant in practice. No matter how "necessary" is defined, the result is always …


Report To The American Bankruptcy Institute: Prevalence Of Substantive Consolidation In Large Public Company Bankruptcies From 2000 To 2005, William H. Widen Apr 2008

Report To The American Bankruptcy Institute: Prevalence Of Substantive Consolidation In Large Public Company Bankruptcies From 2000 To 2005, William H. Widen

Articles

No abstract provided.


Corporate Form And Substantive Consolidation, William H. Widen Jan 2007

Corporate Form And Substantive Consolidation, William H. Widen

Articles

No abstract provided.


Prevalence Of Substantive Consolidation In Large Bankruptcies From 2000 To 2004: Preliminary Results, William H. Widen Apr 2006

Prevalence Of Substantive Consolidation In Large Bankruptcies From 2000 To 2004: Preliminary Results, William H. Widen

Articles

No abstract provided.


Enron At The Margin, William H. Widen May 2003

Enron At The Margin, William H. Widen

Articles

No abstract provided.


Letters Of Credit, Voidable Preferences, And The Independence Principle, William H. Widen, David Gray Carlson Aug 1999

Letters Of Credit, Voidable Preferences, And The Independence Principle, William H. Widen, David Gray Carlson

Articles

No abstract provided.


The Earmarking Defense To Voidable Preference Liability: A Reconceptualization, William H. Widen, David Gray Carlson Jul 1999

The Earmarking Defense To Voidable Preference Liability: A Reconceptualization, William H. Widen, David Gray Carlson

Articles

No abstract provided.