Law Commons^™

Conflicts In Cross-Border Enforcement Of Tax Claims, Andrew Grossman

Andrew Grossman

Some recent academic studies have argued, with few provisos, for abandonment of the rule traditional in both common- and civil-law jurisdictions barring the enforcement of foreign tax claims and judgments in the absence of a specific treaty engagement to the contrary. To equate public-law debts with private debts, and to make judgments for such debts enforceable across borders in the manner of the Uniform Foreign Money-Judgments Recognition Act, without addressing the special nature of tax claims and the way in which they may arise in bankruptcy, involuntary liquidation of assets, and arise in tandem and across borders, is bound to …

Should It Stay Or Should It Go? Seminole Tribe In The Post-Katz Era, Stephanie Cochran

University of Miami Law Review

No abstract provided.

Usury Law, Payday Loans, And Statutory Sleight Of Hand: An Empirical Analysis Of American Credit Pricing Limits, Christopher L. Peterson

Christopher L Peterson

In the Western intellectual tradition usury law has historically been the foremost bulwark shielding consumers from harsh credit practices. In the past, the United States commitment to usury law has been deep and consistent. However, the recent rapid growth of the “payday” loan industry belies this longstanding American tradition. In order to understand the evolution of American usury law, this paper presents a systemic empirical analysis of all fifty state usury laws in two time periods: 1965 and the present. The highest permissible price of a typical payday loan authorized under each state’s usury law was calculated. These prices were …

Teaching Selected Ethical Issues In Bankruptcy, Michael Korybut

Saint Louis University Law Journal

No abstract provided.

Bankruptcy For The Poor?, Stephanie Ben-Ishai, Saul Schwartz

Osgoode Hall Law Journal

The conventional wisdom is that the poor are not heavy users of the insolvency system, because creditors are unwilling to take risks on the poor and because many of the poor are judgment-proof. However, credit is now widely available across the spectrum of income groups. In addition, poverty is often a temporary state for many Canadians; therefore, being judgment-proof is likewise temporary. Some of those who are poor at any point in time are in fact in need of bankruptcy protection. They have debts that they are unable to pay and little likelihood of being able to repay in the …

The Effect Of Joint And Several Liability Under Superfund On Brownfields, Howard F. Chang, Hilary A. Sigman

All Faculty Scholarship

In response to claims that the threat of environmental liability under the Superfund law deters the acquisition of potentially contaminated sites (or "brownfields") for redevelopment, the federal government has adopted programs to protect purchasers from liability. This protection may be unwarranted, however, if sellers can simply adjust property prices downward to compensate buyers for this liability. We present a model of joint and several liability under Superfund that allows us to distinguish four different reasons that this liability may discourage the purchase of brownfields. The previous literature has overlooked the effects that we identify, which all arise because a sale …

Collective Bargaining Agreements And Chapter 9 Bankruptcy, Ryan Preston Dahl

Ryan P Dahl

The recent cycle of automotive and aviation bankruptcies is ending. The next major restructuring cycle may come from a very different quarter. Municipalities throughout the United States will face the very real prospect of insolvency. The treatment of collective bargaining agreements will play a significant role in this process. Unaffordable collective bargaining obligations may be the efficient cause of such filings. Alternatively, rejecting such agreements may be the most effective means of restoring a municipal debtor’s financial health.

Statutory gaps, the absence of significant caselaw, and limited scholarly commentary raise serious questions as to how courts should treat collective bargaining …

Managers’ Fiduciary Duties In Financially Distressed Corporations: Chaos In Delaware (And Elsewhere), Rutheford B. Campbell Jr., Christopher W. Frost

Law Faculty Scholarly Articles

The inherent conflict between creditors and shareholders has long occupied courts and commentators interested in corporate governance. Creditors holding fixed claims to the corporation's assets generally prefer corporate decision making that minimizes the risk of firm failure. Shareholders, in contrast, have a greater appetite for risk, because, as residual owners, they reap the rewards of firm success while sharing the risk of loss with creditors.

Traditionally, this conflict is mediated by a governance structure that imposes a fiduciary duty on the corporation's managers-its officers and directors-to maximize the value of the shareholders' interests in the firm. In this traditional view, …

Hanging On To Till: Interpretations Of Bapcpa's Hanging Paragraph, Kaitlin A. Bridges

Missouri Law Review

Bankruptcy law has significantly changed in the last two years due to the enactment of the Bankruptcy Abuse Prevention and Consumer Protection Act ("BAPCPA"). An already complex and challenging area of law, bankruptcy has become even more so, as debtors and creditors begin to question how their rights have changed. For courts, one of the most perplexing issues is whether the standards and interpretations that were established in preBAPCPA bankruptcy cases are still applicable today. As courts have examined the potential effects of the new legislation, different opinions have emerged, leaving even more uncertainty for interested parties. One of the …

State Sovereignty In Bankruptcy After Katz, Thomas E. Plank

Scholarly Works

No abstract provided.

Toward A More Efficient Bankruptcy Law: Mortgage Financing Under The 2005 Bankruptcy Amendments, Thomas E. Plank

Scholarly Works

No abstract provided.

The Supreme Court, The Solicitor General, And Bankruptcy: Bfp V. Resolution Trust Corporation, Ronald Mann

Ronald Mann

Using information from Justice Blackmun's files and the case, and a dataset matching Supreme Court bankruptcy decisions with information about participation by the Solicitor General, the paper argues that the SG's participation in secured creditor disputes in the mid-1990's is a big part of the explanation of this counter-textual case. The paper introduces a broader theory of bankruptcy interpretation that I call "bankruptcy skepticism," rejecting claims that bankruptcy interpretation by the Supreme Court has been literalist.

Software Licenses Through The Bankruptcy Looking Glass: Drafting Individually Negotiated Software Licenses That Protect The Client's Interests In Bankruptcy, Jennifer S. Bisk

Fordham Intellectual Property, Media and Entertainment Law Journal

No abstract provided.

Twilight In The Zone Of Insolvency: Fiduciary Duty And Creditors Of Troubled Companies - Theory And Policy, Kelli A. Alces, Larry E. Ribstein, Alan Schwartz, Simone M. Sepe

Journal of Business & Technology Law

No abstract provided.

The Curious Incident Of The Law Firm That Did Nothing In The Night-Time, Nancy B. Rapoport

Scholarly Works

This essay argues that organizations (here, the Milbank, Tweed law firm) often ignore obviously bad behavior by their employees because of various psychological and sociological factors that prevent them from recognizing the behavior as bad in the first place.

Calculating Exemptions In Bankruptcy: All Points Capital Corp. V Meyer, Roger Bernhardt

Publications

This article discusses a bankruptcy case involving 11USC §522(f)’s formula for avoiding judgment liens on properties in which the debtor holds only a partial interest.

Bank Regulatory Reform In The Republic Of Serbia, Gary A. Gegenheimer

South Carolina Journal of International Law and Business

No abstract provided.

The Law Of Unintended Consequences, Margaret Howard

Scholarly Articles

My purpose is to talk about the 2005 Amendments and how things are going with the new provisions. But where do you start, with a bad law? We could start with the enactment process, but that's old news now. And besides,you've already heard the line: "Some members of Congress could not be bought; for everyone else there was MasterCard." We could talk about the policy choices, and the 2005 Amendments clearly represent a shift in that respect--perhaps in the category of "seismic" or "cataclysmic."

Directors' Duties In Failing Firms, Larry E. Ribstein, Kelli A. Alces

Journal of Business & Technology Law

No abstract provided.

Twilight In The Zone Of Insolvency: Fiduciary Duty And Creditors Of Troubled Companies - The Duty To Creditors In Practice, J. William Callison, Mark A. Grovic, James J. Hanks Jr., Roger A. Lane

Journal of Business & Technology Law

No abstract provided.

Your Licensor Has A License To Kill, And It May Be Yours: Why The Ninth Circuit Should Resist Bankruptcy Law That Threatens Intellectual Property Licensing Rights, Jon Minear

Seattle University Law Review

In recent opinions, the U.S. Court of Appeals for the Seventh Circuit has interpreted the Bankruptcy Code ("the Code") in a manner that makes inaction or ignorance perilous for IP licensees whose licensor declares bankruptcy. Although Congress amended the Code to protect a licensee from losing technology rights in these situations, the Seventh Circuit has narrowly interpreted a strikingly similar bankruptcy provision involving real-estate leases and, in doing so, has cast doubt on the efficacy of the licensee protections found in section 365(n) of the Code. In addition, this circuit has broadly interpreted another Code section dealing with title-clearing sales …

Twilight In The Zone Of Insolvency: Fiduciary Duty And Creditors Of Troubled Companies - History & Background, Royce De R. Barondes, Lisa Fairfax, Lawrence A. Hamermesh, Robert Lawless

Journal of Business & Technology Law

No abstract provided.

Twilight In The Zone Of Insolvency: Fiduciary Duty And Creditors Of Troubled Companies - Presentation Of Much Ado About Little? Directors' Fiduciary Duties In The Vicinity Of Insolvency, Stephen M. Bainbridge

Journal of Business & Technology Law

No abstract provided.

Twilight In The Zone Of Insolvency: Fiduciary Duty And Creditors Of Troubled Companies - Comparative & International Perspectives, Andres Engert, Reid Feldman, Pamela L.J. Huff, Donna W. Mckenzie-Skene

Journal of Business & Technology Law

No abstract provided.

Much Ado About Little? Directors' Fiduciary Duties In The Vicinity Of Insolvency, Stephen M. Bainbridge

Journal of Business & Technology Law

No abstract provided.

Fiduciary Duties In Distressed Corporations: Second Generation Issues, Royce De R. Barondes

Journal of Business & Technology Law

No abstract provided.

The Duty To Creditors Reconsidered - Filling A Much Needed Gap In Corporation Law, Richard A. Booth

Journal of Business & Technology Law

No abstract provided.

Why A Fiduciary Duty Shift To Creditors Of Insolvent Business Entities Is Incorrect As A Matter Of Theory And Practice, J. William Callison

Journal of Business & Technology Law

No abstract provided.

From Production Resources To Peoples Department Stores: A Similar Response By Delaware And Canadian Courts On The Fiduciary Duties Of Directors To Creditors Of Insolvent Companies, Pamela L.J. Huff, Russell C. Silberglied

Journal of Business & Technology Law

No abstract provided.

Direct Creditor Claims For Breach Of Fiduciary Duty: Is They Is, Or Is They Ain't? A Practitioner's Notes From The Field, Roger A. Lane

Journal of Business & Technology Law

No abstract provided.