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Full-Text Articles in Law
Are Charter Schools The Second Coming Of Enron?: An Examination Of The Gatekeepers That Protect Against Dangerous Related-Party Transactions In The Charter School Sectors, Preston C. Green Iii, Bruce D. Baker, Joseph O. Oluwole
Are Charter Schools The Second Coming Of Enron?: An Examination Of The Gatekeepers That Protect Against Dangerous Related-Party Transactions In The Charter School Sectors, Preston C. Green Iii, Bruce D. Baker, Joseph O. Oluwole
Indiana Law Journal
INTRODUCTION
OVERVIEW OF ENRON
A. ENRON AND DEREGULATION
B. THE LJM SPES
C. ENRON’S COLLAPSE
II: ENRON’S GATEKEEPER PROBLEMS
A. ARTHUR ANDERSEN
B. INDEPENDENT ANALYSTS
C. CREDIT RATING AGENCIES
D. ENRON’S BOARD OF DIRECTORS
E. SECURITIES AND EXCHANGE COMMISSION (SEC)
III: CHARTER SCHOOLS AND RELATED-PARTY TRANSACTIONS
A. CHARTER SCHOOL DEREGULATION AND PRIVATE INVESTORS
B. EXAMPLES OF ENRON-LIKE RELATED-PARTY TRANSACTIONS
1. IMAGINE SCHOOLS
2. IVY ACADEMIA CHARTER SCHOOL
3. AMERICAN INDIAN MODEL CHARTER SCHOOLS
4. GRAND TRAVERSE ACADEMY
5. PENNSYLVANIA CYBER CHARTER SCHOOL
C. THE FEDERAL GOVERNMENT, RELATED-PARTY TRANSACTIONS, AND THE NEED FOR STRONG GATEKEEPING
IV: CHARTER SCHOOL GATEKEEPERS
A. AUDITORS …
The New Bond Workouts, William W. Bratton, Adam J. Levitin
The New Bond Workouts, William W. Bratton, Adam J. Levitin
All Faculty Scholarship
Bond workouts are a famously dysfunctional method of debt restructuring, ridden with opportunistic and coercive behavior by bondholders and bond issuers. Yet since 2008 bond workouts have quietly started to work. A cognizable portion of the restructuring market has shifted from bankruptcy court to out-of-court workouts by way of exchange offers made only to large institutional investors. The new workouts feature a battery of strong-arm tactics by bond issuers, and aggrieved bondholders have complained in court. The result has been a new, broad reading of the primary law governing workouts, section 316(b) of the Trust Indenture Act of 1939 (“TIA”), …