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Introduction: The Future Of Chapter 11: A Symposium Cosponsored By The American College Of Bankruptcy, Ingrid Michelsen Hillinger Dec 2005

Introduction: The Future Of Chapter 11: A Symposium Cosponsored By The American College Of Bankruptcy, Ingrid Michelsen Hillinger

Boston College Law School Faculty Papers

Professor Ingrid Michelsen Hillinger offers introductory remarks to the Symposium: The Future of Chapter 11, cosponsored by the American College of Bankruptcy and the Boston College Law Review and held at the Boston College Law School on April 22, 2005.


Fao Schwartz In Chapter 22: Too Big For Its Britches, Andrea Kuban, Chris Reiley, Mary Walker Apr 2005

Fao Schwartz In Chapter 22: Too Big For Its Britches, Andrea Kuban, Chris Reiley, Mary Walker

Chapter 11 Bankruptcy Case Studies

No abstract provided.


The Story Of Ymps (“Yield Maintenance Premiums”) In Bankruptcy, Michael G. Hillinger, Ingrid Michelsen Hillinger Jan 2005

The Story Of Ymps (“Yield Maintenance Premiums”) In Bankruptcy, Michael G. Hillinger, Ingrid Michelsen Hillinger

Faculty Publications

This article tries to tell the story of YMPs in bankruptcy. It is not an easy story to tell. It has so many subplots: the court’s position on freedom of contract, the debtor’s solvency or insolvency, the effect of recognizing the YMP on other creditors, whether the YMP claim arose pre- or post-petition, the proper relationship between section 502 claim allowance and section 506(b) which permits oversecured claims to include reasonable fees, costs, or charges as provided for in the loan agreement, and the effect of YMP enforcement on chapter 11 plan configuration.

In terms of basic ...


Tyson, Neal Cope, Doug Elkins Jan 2005

Tyson, Neal Cope, Doug Elkins

Chapter 11 Bankruptcy Case Studies

No abstract provided.


H.W. Johns - Manville, Steven P. Ingram, James K. Lam Jan 2005

H.W. Johns - Manville, Steven P. Ingram, James K. Lam

Chapter 11 Bankruptcy Case Studies

No abstract provided.


Mississippi Chemical, Stacie Odencal, Jeremy Deese Jan 2005

Mississippi Chemical, Stacie Odencal, Jeremy Deese

Chapter 11 Bankruptcy Case Studies

No abstract provided.


Serial Entrepreneurs And Small Business Bankruptcies, Douglas G. Baird, Edward R. Morrison Jan 2005

Serial Entrepreneurs And Small Business Bankruptcies, Douglas G. Baird, Edward R. Morrison

Faculty Scholarship

This empirical study suggests that, far from ensuring assets are put to their best use, Chapter 11 encourages small-business entrepreneurs to remain too long with failed businesses before trying to start (or work for) new ones. Small entrepreneurs open and close a number of businesses over the course of their careers as they search for the business (or employer) that offers the best match with their skills. Chapter 11 delays this matching process and, over this dimension, differs little from rent control and other government policies that encourage socially wasteful lock-in of scarce resources. These costs may not be large ...


Serial Entrepreneurs And Small Business Bankruptcies, Douglas G. Baird, Edward R. Morrison Jan 2005

Serial Entrepreneurs And Small Business Bankruptcies, Douglas G. Baird, Edward R. Morrison

Faculty Scholarship

Chapter 11 is thought to preserve the going-concern surplus of a financially distressed business – the extra value that its assets possess in their current configuration. Financial distress leads to conflicts among creditors that can lead to inefficient liquidation of a business with going-concern surplus. Chapter 11 avoids this by providing the business with a way of fashioning a new capital structure. This account of Chapter 11 fails to capture what is happening in the typical case. The typical Chapter 11 debtor is a small corporation whose assets are not specialized and rarely worth enough to pay tax claims. There is ...


Serial Entrepreneurs And Small Business Bankruptcies, Douglas G. Baird, Edward R. Morrison Jan 2005

Serial Entrepreneurs And Small Business Bankruptcies, Douglas G. Baird, Edward R. Morrison

Faculty Scholarship

Chapter 11 is thought to preserve the going-concern surplus of a financially distressed business – the extra value that its assets possess in their current configuration. Financial distress leads to conflicts among creditors that can lead to inefficient liquidation of a business with going-concern surplus. Chapter 11 avoids this by providing the business with a way of fashioning a new capital structure. This account of Chapter 11 fails to capture what is happening in the typical case. The typical Chapter 11 debtor is a small corporation whose assets are not specialized and rarely worth enough to pay tax claims. There is ...