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Bankruptcy Court Jurisdiction After Executive Benefits Insurance Agency V. Arkison, Keith Sharfman, G. Ray Warner
Bankruptcy Court Jurisdiction After Executive Benefits Insurance Agency V. Arkison, Keith Sharfman, G. Ray Warner
Faculty Publications
(Excerpt)
Bankruptcy law has been struggling for several years now with the so-called "Stern problem”—the jurisdictional cloud of doubt that has been cast by the Supreme Court's decision in Stern v. Marshall over much of the work that bankruptcy courts have done routinely for decades. Since Stern was decided, bankruptcy courts and the litigants who appear before them cannot be confident that it is constitutional for non-Article III bankruptcy judges to adjudicate various matters over which there is clear statutory jurisdiction, such as avoidance actions against third party transferees who are not otherwise involved or participating in the bankruptcy …
Hedge Funds In Bankruptcy, Keith Sharfman, G. Ray Warner
Hedge Funds In Bankruptcy, Keith Sharfman, G. Ray Warner
Faculty Publications
(Excerpt)
Hedge funds and other professional and institutional investors are playing an increasingly important role in bankruptcy cases. As buyers of financially distressed securities, they provide a valuable outlet for holders of such securities who wish to exit those markets. They also facilitate the consolidation of distressed securities into the hands of owners who are well-equipped to press for outcomes in Chapter 11 cases that maximize the value of those securities. At the same time, the active participation of hedge funds in the bankruptcy process at times gives them access to nonpublic information that may afford them an undue advantage …