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Bankruptcy

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Ralph E. Brubaker

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Bankruptcy Reorganizations And The Troubling Legacy Of Chrysler And Gm, Ralph E. Brubaker, Charles J. Tabb Feb 2010

Bankruptcy Reorganizations And The Troubling Legacy Of Chrysler And Gm, Ralph E. Brubaker, Charles J. Tabb

Ralph E. Brubaker

BANKRUPTCY REORGANIZATIONS AND THE

TROUBLING LEGACY OF CHRYSLER AND GM

Ralph Brubaker

University of Illinois College of Law

Charles Jordan Tabb

University of Illinois College of Law

Abstract:

The Chrysler and General Motors bankruptcy reorganizations represent the culmination of a sea-change in corporate restructuring practice that has occurred largely over the course of just the past decade. A bankruptcy reorganization has traditionally been effectuated though a chapter 11 plan of reorganization, with elaborate requirements for disclosure, creditor voting, and allocation of stakes in the reorganized debtor entity’s new capital structure among creditors and owners. Such an internal boot-strap reorganization, though, …


Bankruptcy Reorganizations And The Troubling Legacy Of Chrysler And Gm, Ralph E. Brubaker Feb 2010

Bankruptcy Reorganizations And The Troubling Legacy Of Chrysler And Gm, Ralph E. Brubaker

Ralph E. Brubaker

BANKRUPTCY REORGANIZATIONS AND THE

TROUBLING LEGACY OF CHRYSLER AND GM

Ralph Brubaker

University of Illinois College of Law

Charles Jordan Tabb

University of Illinois College of Law

Abstract:

The Chrysler and General Motors bankruptcy reorganizations represent the culmination of a sea-change in corporate restructuring practice that has occurred largely over the course of just the past decade. A bankruptcy reorganization has traditionally been effectuated though a chapter 11 plan of reorganization, with elaborate requirements for disclosure, creditor voting, and allocation of stakes in the reorganized debtor entity’s new capital structure among creditors and owners. Such an internal boot-strap reorganization, though, …