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Cleveland State University

Law Faculty Articles and Essays

Bankruptcy

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Corporate Complicity Claims: Why There Is No Innocent Decison-Maker Exception To Imputing An Officer's Wrongdoing To A Bankrupt Corporation, Jonathan Witmer-Rich Jan 2006

Corporate Complicity Claims: Why There Is No Innocent Decison-Maker Exception To Imputing An Officer's Wrongdoing To A Bankrupt Corporation, Jonathan Witmer-Rich

Law Faculty Articles and Essays

This Article evaluates the innocent decision-maker exception in light of the doctrinal foundations of the in pari delicto defense and the Wagoner rule, general principles of agency law, and the lower court decisions that address these issues. It concludes that the innocent decision-maker exception is a doctrinal error, traceable to the logical misstep of a single lower court whose decision continues to be mistakenly followed. The innocent decision-maker exception is inconsistent with the basic principles of agency law that underlie imputation in the context of in pari delicto and the Wagoner rule. No court of appeals has explicitly addressed the ...


International Secured Transactions And Insolvency, Mark J. Sundahl, Susan Jaffe Roberts, Jeff Carruth, Walter Douglas Stuber Jan 2006

International Secured Transactions And Insolvency, Mark J. Sundahl, Susan Jaffe Roberts, Jeff Carruth, Walter Douglas Stuber

Law Faculty Articles and Essays

The following article surveys some of the significant developments in the field of cross-border insolvencies and secured financing during the twelve months prior to December 1, 2005. The most publicized and long-awaited bankruptcy development was the enactment of legislation in the United States to adopt the UNCITRAL framework for the recognition of foreign insolvency proceedings. Even with the adoption of the UNICTRAL framework, American courts continued to render significant decisions under the former law which may, over time, inform practice, under the UNICTRAL provisions. Brazil also enacted significant bankruptcy reforms during 2005. The international law of secured transactions experienced a ...


The Use Of Ohio's Preference Law In Bankruptcy: An Alternative To Section 547 With A Longer "Reach-Back" Period, Thomas D. Buckley Jan 1991

The Use Of Ohio's Preference Law In Bankruptcy: An Alternative To Section 547 With A Longer "Reach-Back" Period, Thomas D. Buckley

Law Faculty Articles and Essays

Ohio is one of the few states with a preference law of general application among its debtor-creditor statutes. Ohio Revised Code sections 1313.56 and 1313.57 give creditors an avoidance power similar to a bankruptcy trustee's avoidance power under federal bankruptcy law. While this article compares the federal and state preference rules, evaluating the pratical significance of the differences between them, the relative strength of the two laws is less important than the fact that the bankruptcy trustee can choose whichever of the two laws is more effective with respect to any given prebankruptcy transaction. Thus, both laws ...


Insider Guaranties: Their Effect On The Bankruptcy Preference "Reach Back" Period And Possible Use In Getting An "Ordinary Course" Exception Avoidance, Thomas D. Buckley Jan 1991

Insider Guaranties: Their Effect On The Bankruptcy Preference "Reach Back" Period And Possible Use In Getting An "Ordinary Course" Exception Avoidance, Thomas D. Buckley

Law Faculty Articles and Essays

In 1990 the Sixth Circuit decided two bankrupcty preference cases, Ray v. City Bank & Trust Co. (In re C-L Cartage Co.) ("Cartage") and Gosch v. Burns (In re Finn) ("Finn"), that will have important consequences in the administration of bankruptcy proceedings and will also influence the way lenders and borrowers do business with each other in the future, whether or not a bankruptcy ever ensues. This article first describes briefly the mechanics of preference law and the application of it in Cartage and Finn. The article then focuses primarily on the Cartage decision, because the analytic approach taken by the ...