Law Commons^™

Aligning Nigeria’S Companies And Allied Matters Act With Restructuring Objectives: A Comparative Analysis Using Key Areas Of Interest In Canada’S Insolvency Regime, Unyime Anieti Akpan

Master of Laws Research Papers Repository

Despite the commendable inclusion of restructuring options in Nigeria’s Companies and Allied Matters Act 2020 (“CAMA 2020”), there are still some issues to be addressed in order to fully align CAMA’s restructuring regimes with its goals. This paper undertakes a comparative analysis of the CAMA and the relevant Canadian laws in this respect (particularly the Companies’ Creditors Arrangement Act (“CCAA”) which are aimed at restructuring insolvent corporations. Given the broad nature of a general comparison of insolvency regimes, the approach of this research will be to highlight some key areas of interest under both the CAMA …

The Measure Of A Monitor's Role, Alejandro E. Gonzalez

Electronic Thesis and Dissertation Repository

This study examines the monitor, a court-appointed officer under the Companies’ Creditors Arrangement Act, in order to determine whether and how to best secure its independence. Concerns over the role are increasingly over whether it can maintain its supposed impartiality and avoid conflicts of interest. This study centers on its fiduciary duty, long discussed in the courts, as both problematic because it is not conclusively defined, and as the best means of establishing the monitor as a fair and impartial guardian of public confidence in Canadian insolvency law. By examining leading insolvency law theories, international and Canadian insolvency policy, and …

Subchapter V: A Product Of The Small Business Reorganization Act Of 2019, Seth Snyder

Law Student Works

The Small Business Reorganization Act of 2019 (SBRA) went into effect on February 19, 2020 to provide small businesses bankruptcy relief that was previously untenable under a traditional chapter 11 reorganization. The SBRA created subchapter V of chapter 11, codified as 11 U.S.C. §§ 1181 – 1195, that is available for small business debtors with debts less than $2,725,625. The debt limit has been temporarily increased to $7,500,000 until March 26, 2021 by the Coronavirus Aid, Relief, and Economic Security Act (the CARES Act).

The timing of the new law could not have been better considering how small businesses have …

The Impact Of Bankruptcy, Duty Related Stress And Policing In Detroit, Sarah Markel

Department of Conflict Resolution Studies Theses and Dissertations

Urban police officers are regularly exposed to trauma and duty-related stress. The City of Detroit’s highly publicized bankruptcy proceedings reached finality in December 2014 but led to an additional layer of stress via financial uncertainty to Detroit police officers. The officers already experience high critical incident exposure rates and organizational tension/instability. While certain types of stressors (critical incident, organizational and family/personal) have been extensively researched and are largely anticipated within law enforcement agencies, the bankruptcy resolution, which included wage, pension, and medical insurance losses, may have compounded issues within the department. This research project used a mixed method case study …

Savings—The Missing Element In Chapter 13 Bankruptcy Cases?, David R. Jones

Duke Law Master of Judicial Studies Theses

This paper examines the effects of debtor savings on the viability of chapter 13 bankruptcy plans. The paper further examines the impact of lawyer culture, debtor participation in the bankruptcy process and judicial activism on the use of the savings program by chapter 13 debtors. Using a data set of randomly selected chapter 13 bankruptcy cases filed in the Southern District of Texas, the analysis demonstrates that while savings has a direct positive impact on the success of chapter 13 plans, the degree of that success is significantly influenced by the views held by debtors’ lawyers, chapter 13 trustees and …

The Bankruptcy Abuse Prevention And Consumer Protection Act: An Empirical Examination Of The Act's Business Bankruptcy Effects, Foteini Teloni

SJD Dissertations

This paper uses a multivariate logistic regression model to examine empirically and quantify for the first time the effect of the Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA) on the Chapter 11 landscape. Two samples are tested: a general sample consisting of firms from various corporate sectors, and a sample consisting only of retailers. Both studies show that the 2005 amendments had a statistically significant effect on traditional Chapter 11 practice. In particular, post-BAPCPA we observe a rise in rapid dispositions through the form of a sale of all or substantially all debtor assets. Indeed, in the post-amendments era, …

Chapter 11 Duration, Preplanned Cases, And Refiling Rates: An Empirical Analysis In The Post-Bapcpa Era, Foteini Teloni

SJD Dissertations

This article empirically examines and quantifies the effect of the Bankruptcy Abuse Prevention and Consumer Protection Act (“BAPCPA”) on three distinct aspects of the Chapter 11 process: a) the duration of traditional Chapter 11 cases; b) the use of prepackaged and prenegotiated bankruptcies; and c) debtor refiling rates. The sample studied consists of companies with more than $100 million in assets that both filed for and exited Chapter 11 between 1997 and 2014. BAPCPA is found to be associated with shorter Chapter 11 case duration, and an increased use of prepackaged and prenegotiated bankruptcies. Additionally, BAPCPA is found to be …

Preserving Value In The Post-Bapcpa Era — An Empirical Study, Foteini Teloni

SJD Dissertations

Through the use of a multivariate regression model, this article studies the effect on debtor reorganization values of the shortened reorganization timeframe imposed by the Bankruptcy Abuse Prevention and Consumer Protection Act (“BAPCPA”). The study shows that BAPCPA is positively correlated at a statistically significant level with higher reorganization recoveries. This result is attributed to the increased proportion of prepackaged and prenegotiated bankruptcies observed in the post-2005 era, as these “fast-track” bankruptcy cases entail lower costs and better preserve the firm’s value.

The Secondary Market For Gift Cards And The Role Of Corporate Bankruptcy Risk, Kaitlyn A. Desai

CMC Senior Theses

The website, Plastic Jungle, is taking advantage of the rapidly growing gift card phenomena by creating a secondary market that enables consumers to buy, sell, and exchange gift cards online at a discount. This paper examines the relationship between this secondary gift card market and the corporate bankruptcy risk of companies with gift cards listed on the market. When a company issues a gift card, the card is unsecured debt and the cardholder becomes an unsecured creditor to the company. This paper investigates whether the cardholder acts similarly to other unsecured creditors or as someone who is merely holding another …

Bankruptcy As A Corporate Strategy : Implications For Turnover In The Top Management Team And Board Of Directors, Cynthia Lane Krom

Legacy Theses & Dissertations (2009 - 2024)

This paper examines Chapter 11 bankruptcy as a corporate strategy, segregating filings for corporate reorganization in the U.S. from 1998 through 2007 into those due to financial distress (FDB) and those believed to be for risk-management purposes (RMB). Twenty-seven RMB and 199 FDB firms were compared to each other, and to 226 matched non-bankrupt firms. Altman's Z-score clearly differed between the RMB and FDB firms, suggesting that the two are separate constructs financially as well as legally. A subset of 81 firms (the 27 RMB matched to 27 non-bankrupt and 27 FDB) were studied for turnover among the members of …