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Full-Text Articles in Law
Crowdsourcing (Bankruptcy) Fee Control, Matthew Bruckner
Crowdsourcing (Bankruptcy) Fee Control, Matthew Bruckner
Matthew Adam Bruckner
In this article, I explore how crowdsourcing can help reduce the cost of professional representation in corporate bankruptcy cases. The cost of professional representation in bankruptcy cases is currently a hot topic, with oral argument haven taken place before the U.S. Supreme Court in Baker Botts L.L.P. v. Asarco, L.L.C. in February 2015, which case addressed various issues raised in my article. In brief, the fees of lawyers, investment bankers, and other bankruptcy professionals has been spiraling out of control because chapter 11’s existing fee control system is broken. That system can neither identify nor control professional overcharging, which empirical …
Improving Bankruptcy Sales By Raising The Bar: Imposing A Preliminary Injunction Standard On Objections To Section 363 Sales, Matthew Adam Bruckner
Improving Bankruptcy Sales By Raising The Bar: Imposing A Preliminary Injunction Standard On Objections To Section 363 Sales, Matthew Adam Bruckner
Matthew Adam Bruckner
In response to objections causing wasteful, unnecessary, and inappropriate delay in the bankruptcy sale context, this article concludes that bankruptcy courts should employ a preliminary injunction standard for evaluating objections to bankruptcy sales. Employing a strict, clear and uniform standard would decrease the likelihood that strategic objectors will succeed in delaying bankruptcy sales, but should not bias creditors with “legitimate” objections. By preventing inappropriate delay, courts will ensure that creditors receive an appropriate amount of procedural protection for their legitimate claims, while at the same time preventing parties-in-interest from engaging in rent-seeking behavior by making strategic objections to bankruptcy sales.