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Full-Text Articles in Law

The Cents Of It: Dischargeability And Environmental Claims Under The Bankruptcy Code, Denise M. Schuh Nov 1993

The Cents Of It: Dischargeability And Environmental Claims Under The Bankruptcy Code, Denise M. Schuh

Northern Illinois University Law Review

Courts have been unable to develop a consistent body of precedent as to the point at which a CERCLA claim arises under the Bankruptcy Code due to the competing policy interests involved. This comment analyzes the current approaches employed by the courts and concludes that the current approaches are inadequate to provide a compromise between the policy objectives of both CERCLA and the Bankruptcy Code. This comment proposes a judicial actual notice standard in conjunction with legislative action to enact an environmental liability exception to the dischargeability provisions of the Bankruptcy Code.


Of Hotel Revenues, Rents, And Formalism In The Bankruptcy Courts: Implications For Reforming Commercial Real Estate Finance, R. Wilson Freyermuth Oct 1993

Of Hotel Revenues, Rents, And Formalism In The Bankruptcy Courts: Implications For Reforming Commercial Real Estate Finance, R. Wilson Freyermuth

Faculty Publications

This article is intended to continue the dialogue begun by the proposed Restatement and has two distinct goals in this effort. Parts I through III argue that the position of the Restatement drafters is both legally and functionally sound and that bankruptcy courts should embrace and apply the proposed Restatement in administering distressed real estate developments. Part I reviews the reasoning articulated in the hotel bankruptcy cases, demonstrating how courts have applied the provisions of the Bankruptcy Code and state law in a formalistic manner to extinguish the hotel mortgagee's lien upon postpetition room revenues. Part II rejects the analysis …


Determining Interest And Discount Rates Applicable To Secured Claims In The Specter Of Bankruptcy Law, Aneel M. Pandey Aug 1993

Determining Interest And Discount Rates Applicable To Secured Claims In The Specter Of Bankruptcy Law, Aneel M. Pandey

San Diego Law Review

This Article formulates a basic framework to determine interest and discount rates applicable to secured claims in bankruptcy. It reviews the function of the interest rate from a macroeconomic perspective. The time value of money concept is explained, showing that the later a cash flow comes in time, the less it is worth. The treatment that debtors and creditors receive during the gap period (the time between the filing of the bankruptcy petition and the confirmation of the plan) is evaluated by examining how courts have struggled with the Bankruptcy Code to award post-petition interest. The author concludes by developing …


The Classification Veto In Single-Asset Cases Under Bankruptcy Code Section 1129(A)(10), David G. Carlson Jul 1993

The Classification Veto In Single-Asset Cases Under Bankruptcy Code Section 1129(A)(10), David G. Carlson

South Carolina Law Review

No abstract provided.


Postconfirmation Issues: The Effects Of Confirmation And Post Confirmation Procedings, Frank R. Kennedy, Gerald K. Smith Jul 1993

Postconfirmation Issues: The Effects Of Confirmation And Post Confirmation Procedings, Frank R. Kennedy, Gerald K. Smith

South Carolina Law Review

No abstract provided.


The Future Of Chapter 11, Charles J. Tabb Jul 1993

The Future Of Chapter 11, Charles J. Tabb

South Carolina Law Review

No abstract provided.


Towards A Model Of A Bankruptcy Administration, Richard B. Levin Jul 1993

Towards A Model Of A Bankruptcy Administration, Richard B. Levin

South Carolina Law Review

No abstract provided.


Trustees And Examiners In Chapter 11, Barry L. Zaretsky Jul 1993

Trustees And Examiners In Chapter 11, Barry L. Zaretsky

South Carolina Law Review

No abstract provided.


Bankruptcy As An Essentially Contested Concept: The Case Of The One-Asset Case, John D. Ayer Jul 1993

Bankruptcy As An Essentially Contested Concept: The Case Of The One-Asset Case, John D. Ayer

South Carolina Law Review

No abstract provided.


Creditors' Committees Under Chapter 11 Of The Bankruptcy Code, Kenneth N. Klee, K. J. Shaffer Jul 1993

Creditors' Committees Under Chapter 11 Of The Bankruptcy Code, Kenneth N. Klee, K. J. Shaffer

South Carolina Law Review

No abstract provided.


Constitutional Limitations On The Discharge Of Future Claims In Bankruptcy, Ralph R. Mabey, Jamie A. Gavrin Jul 1993

Constitutional Limitations On The Discharge Of Future Claims In Bankruptcy, Ralph R. Mabey, Jamie A. Gavrin

South Carolina Law Review

No abstract provided.


The Abc's Of Liga, Carey J. Guglielmo, Daniel J. Balhoff Jul 1993

The Abc's Of Liga, Carey J. Guglielmo, Daniel J. Balhoff

Louisiana Law Review

No abstract provided.


Chapter 11 For Individual Consumer Debtors: Fresh Start Or False Start?, Cheri L. Cohen May 1993

Chapter 11 For Individual Consumer Debtors: Fresh Start Or False Start?, Cheri L. Cohen

Northern Illinois University Law Review

This commentary examines the implications for consumer debtors filing for bankruptcy relief under chapter 11. This option was made available to all consumer debtors in the Supreme Court decision of Toibb v. Radloff. The author contends that the consumer debtor will only obtain a false start, instead of a fresh start, by turning to chapter 11 for the sought-after relief.


Organizational Form, Misappropriation Risk, And The Substantive Consolidation Of Corporate Groups, Christopher W. Frost Mar 1993

Organizational Form, Misappropriation Risk, And The Substantive Consolidation Of Corporate Groups, Christopher W. Frost

Law Faculty Scholarly Articles

The financial collapse of a corporation raises significant questions regarding its shareholders and creditors' ex ante allocation of the risk that such a collapse might occur. In bankruptcy, most of these risk allocation issues relate to the priority of particular creditors' claims against the assets of the failed business. But determining priority first requires some reasoned means of identifying the assets against which creditors may assert their claims. In many cases, this question is simply one of locating and distributing assets. However, when bankrupt firms have conducted their operations through a complex web of subsidiary corporations, each holding distinct assets …


In Re Grabill Corporation: Another No For Jury Trials In The Bankruptcy Courts, William J. Delany Jan 1993

In Re Grabill Corporation: Another No For Jury Trials In The Bankruptcy Courts, William J. Delany

Villanova Law Review

No abstract provided.


Bankruptcy Officials Vs. The Internal Revenue Service: The Beat Goes On, Craig J. Langstraat, K. Dianne Jackson Jan 1993

Bankruptcy Officials Vs. The Internal Revenue Service: The Beat Goes On, Craig J. Langstraat, K. Dianne Jackson

Akron Tax Journal

This author has previously addressed several areas of conflict between bankruptcy officials; i.e., trustees and judges, and the Internal Revenue Service ("IRS"). Due to continued litigation, both in the U.S. Supreme Court and in certain federal courts of appeal, some of these areas will be reevaluated in this article. In addition, new areas of conflict resulting in litigation in various levels of the federal court system will be discussed. Policy and statutory modifications will be suggested to alleviate the growing costly burden of litigation.


Limitations On Use Of The California Homestead Exemption In Bankruptcy Cases: The Case For Following In Re Pladson, Leslie Burton, Jeffrey C. Wurms Jan 1993

Limitations On Use Of The California Homestead Exemption In Bankruptcy Cases: The Case For Following In Re Pladson, Leslie Burton, Jeffrey C. Wurms

Publications

Two decisions, a 1991 California Court of Appeal decision, Spencer v. Lowery, and a 1993 United States District Court for the Northern District of California decision, In re Pladson, severely restricted the homestead exemption available in bankruptcy cases filed in California. Some bankruptcy courts have refused to follow the Spencer and Pladson cases and the California Legislature has passed new legislation on the use of the homestead exemption in bankruptcy. This article will explore the background and rationale of the decisions and the legislative scheme, and offer support for limiting the Homestead exemption in bankruptcy cases.


Divorce Obligations And Bankruptcy Discharge: Rethinking The Support/Property Distinction, Jana B. Singer Jan 1993

Divorce Obligations And Bankruptcy Discharge: Rethinking The Support/Property Distinction, Jana B. Singer

Faculty Scholarship

The Bankruptcy Code currently divides divorce-related obligations into two categories: awards or agreements in the nature of support are non-dischargeable; obligations arising from property divisions can be discharged in the same manner as ordinary commercial debts. Because recent developments in family law have undermined the support/property distinction and because privately negotiated divorce agreements often fail to distinguish between payments intended to serve as support and those intended to distribute property, the Code's reliance on this classification often leads to confusion and hardship for divorce obligees. In addition, because of the rise of equitable distribution as the dominant method of allocating …


Shareholder Control Rights In Bankruptcy: Disassembling The Withering Mirage Of Corporate Democracy, Thomas G. Kelch Jan 1993

Shareholder Control Rights In Bankruptcy: Disassembling The Withering Mirage Of Corporate Democracy, Thomas G. Kelch

Maryland Law Review

No abstract provided.


The Attack On Chapter 11, Douglass G. Boshkoff Jan 1993

The Attack On Chapter 11, Douglass G. Boshkoff

Articles by Maurer Faculty

No abstract provided.


Section 365 Versus 362: Applying The Automatic Stay To Prevent Unilateral Termination In A Bankruptcy Setting, Robert J. Verga Jan 1993

Section 365 Versus 362: Applying The Automatic Stay To Prevent Unilateral Termination In A Bankruptcy Setting, Robert J. Verga

Fordham Law Review

No abstract provided.


Wysko Investment Company V. Great American Bank: A New Attack On The Usefulness Of Letters Of Credit, Robert Jay Gavigan Jan 1993

Wysko Investment Company V. Great American Bank: A New Attack On The Usefulness Of Letters Of Credit, Robert Jay Gavigan

Northwestern Journal of International Law & Business

The letter of credit has long been accepted as a valuable instrument of assured payment in international business. In Wysko Investment v. Great American Bank, however, an Arizona district court jeopardized the usefulness of the letter of credit transaction by enjoining payment to the beneficiary after the issuing party became insolvent.' This note addresses the issue of whether a bankruptcy court has the power to enjoin payment of a letter of credit issued by the debtor's principal, pursuant to 11 U.S.C. § 105(a), when the court finds the injunction necessary for the debtor's reorganization. Further, this note examines whether such …


Revising Article 9 To Reduce Wasteful Litigation, James J. White Jan 1993

Revising Article 9 To Reduce Wasteful Litigation, James J. White

Articles

For reasons that are unclear to me, the committees reviewing the articles of the Uniform Commercial Code and drafting revisions are congenitally conservative. Perhaps these committees take their charge too seriously, namely, to revise, not to revolutionize. Perhaps their intimate knowledge of the subject matter exaggerates the importance of each section and consequently magnifies the apparent size of every change. In any case, my own experience with two such committees tells me that the members quickly become focused on revisions and amendments that any outsider would describe as modest. To the extent that the revision of any of the articles …


Setoff And Bankruptcy, Lawrence Kalevitch Jan 1993

Setoff And Bankruptcy, Lawrence Kalevitch

Cleveland State Law Review

The code treats liens and setoffs as secured claims. A lienor under §506 receives a secured claim in the face amount of the debt secured only if the collateral has at least that value. Section 506(a) requires collateral valuation to determine the amount of the secured claim. Setoff in the face amount of a creditor's claim likewise requires valuation. Part II discusses §506(a) and §553 and how they may limit, in appropriate cases, the setoff right to less than the face amount of a creditor's claim. Part II shows that this reading of the Bankruptcy Code is not only consistent …


Chapter 12 In The Courts, Jonathan Van Patten Dec 1992

Chapter 12 In The Courts, Jonathan Van Patten

Jonathan Van Patten

No abstract provided.