Law Commons^™

Investing In Distressed Italian Companies Under The Reformed Italian Bankruptcy Law - A Comparison With The Us Bankruptcy Code, Pierantonio Musso

Pierantonio Musso

This article presents a scheme to profitably invest in distressed Italian companies by taking advantage of the Italian Bankruptcy Law in comparison with the US Bankruptcy Code. The risks connected to the insolvency proceeding are analyzed under their economic effects and foreseen in their general appearance. Specific remedies to avoid or mitigate the potential risks are provided. Singular advantages, available only in the proposed investment scheme under the Italian Law, are described. As a result the investment produces a less risky and more profitable outcome than an investment in a non-distressed and non-Italian target company.

Do I Own This Car - The Supreme Court Creates A Standard For Bapcpa Car Ownership, Anne Benton Hucker

Missouri Law Review

The case was Ransom v. FIA Card Services, N.A., and the dispute was whether, under the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (BAPCPA), Appellant Jason Ransom should be able to claim a vehicle ownership expense for purposes of Chapter 13 bankruptcy for the unencumbered car that he owned. Practitioners in the bankruptcy field had been watching the progression of this case and were eager to learn the Court's resolution of the issue. The interest was due to two reasons. First, the outcome of the case would affect approximately 250,000 Chapter 13 petitioners. Second, the case would resolve …

Community Property In Bankruptcy: Laws Of Unintended Consequences, Margaret Dee Mcgarity

Louisiana Law Review

No abstract provided.

Resolving Large, Complex Financial Firms, Thomas Fitzpatrick, Mark Greenlee, James Thomson

James B Thomson

How to best manage the failure of systemically important fi nancial fi rms was the theme of a recent conference at which the latest research on the issue was presented. Here we summarize that research, the discussions that it sparked, and the areas where considerable work remains.

How Well Does Bankruptcy Work When Large Financial Firms Fail? Some Lessons From Lehman Brothers, Thomas Fitzpatrick, James Thomson

James B Thomson

There is disagreement about whether large and complex financial institutions should be allowed to use U.S. bankruptcy law to reorganize when they get into financial difficulty. We look at the Lehman example for lessons about whether bankruptcy law might be a better alternative to bailouts or to resolution under the Dodd-Frank Act’s orderly liquidation authority. We find that there is no clear evidence that bankruptcy law is insufficient to handle the resolution of large complex financial firms.

The Impairment Of Secured Creditors’ Rights In Reorganization: A Study Of The Relationship Between The Fifth Amendment And The Bankruptcy Clause, James S. Rogers

James S. Rogers

Some commentators and courts have argued that the takings clause of the fifth amendment limits congressional power to interfere with property rights in bankruptcy proceedings. In this Article, Professor Rogers argues to the contrary that, at least with respect to prospective bankruptcy legislation, the bankruptcy clause itself and not the fifth amendment limits congressional bankruptcy power. His view derives from nineteenth and twentieth century case law, particularly cases assessing the validity of restraints on secured creditors' foreclosure rights, and from the theoretical difficulty of distinguishing between supposedly protected property rights and supposedly unprotected contract interests. Professor Rogers also sharply criticizes …

When The Chips Are Down: Do Indian Tribes With Insolvent Gaming Operations Have The Ability To File For Bankruptcy Under The Federal Bankruptcy Code?, Corina Rocha Pandeli

UNLV Gaming Law Journal

Indian gaming has become increasingly popular in the United States, with casino and resort facilities on federally recognized Indian land rivaling the likes of Las Vegas and Atlantic City casinos. Since the passage of the Indian Gaming Regulatory Act of 1988 (“IGRA”), gaming activities on Indian reservations across the country have skyrocketed, providing a substantive source of revenue to once economically downtrodden tribes. The IGRA places Indian tribes involved in gaming operations in a unique position because it affords them federal protection and oversight with respect to gaming operations, whereas state law regulates private gaming operations. In a relatively short …

Delaware’S Relevance In Chapter 22: Who Is “Courting Failure” Now?, Ruth S. Lee

Ruth S Lee

This study presents surprising new statistical evidence that contributes to the current “over-heated” academic debate about the Delaware courts’ role in Chapter 11 failure. In 2001, Professor LoPucki published an influential article suggesting that when large corporations file for bankruptcy under Chapter 11, they fail at a dramatically higher rate in Delaware courts than in other jurisdictions. He attributed this to corruption. His article enraged many academics and practitioners, and ignited many articles in the past two decades. This study presents startling evidence that while Chapter 11s filed in Delaware courts did have much higher failure rates from 1991-1996, after …

Protecting Your Retirement Savings From Potential Creditors, Pension Action Center, Gerontology Institute, University Of Massachusetts Boston

Pension Action Center Publications

State and federal laws provide strong protections to New England residents to shield their retirement savings from creditors. The particular protections available depend on whether you have filed for bankruptcy, how your retirement savings are kept, and where you live.

Doma’S Bankruptcy, Mark Strasser

Mark Strasser

Over the past few years, several federal courts have suggested or held that section three of the Defense of Marriage Act (DOMA) violates constitutional guarantees. The courts have differed, however, both with respect to the appropriate standard of review and with respect to the particular constitutional guarantees that the section allegedly violates. Ironically, the resolution of these debates may ultimately have less import for the constitutionality of the section at issue than for the constitutionality of DOMA’s full faith and credit section and for the constitutionality of state same-sex marriage bans. This article addresses the constitutionality of section three of …

Licensing Intellectual Property And Technology From The Financially-Troubled Or Startup Company: Prebankruptcy Strategies To Minimize The Risk In A Licensee's Intellectual Property And Technology Investment, Richard M. Cieri, Michelle M. Harner

Michelle M. Harner

No abstract provided.

How Consumer Bankruptcy Reforms Can Help Save Microfinance In India, David E. Solan

David E Solan

The microfinance industry, once touted as one of the best hopes for alleviating poverty in rural India, faced a near collapse in the winter of 2011 as nearly all borrowers in Andhra Pradesh, one of the largest states in India, stopped repaying their loans. This borrower backlash was fueled by widely reported stories of farmer suicides and unscrupulous lending practices. Politicians have responded with populist legislation aimed at curtailing microfinance in India—for example, by capping interest rates. The Article argues that these proposals are misguided in that they would constrict lending to poor villagers.

The Article questions why Indian policymakers …

Hey Uncle Sam, Can You Spare A Couple Billion?: Examining The Constitutionality Of A State Bankruptcy Chapter, David E. Solan

David E Solan

During February 2011 the prospect of creating a state bankruptcy chapter burst onto the national conversation. This debate largely centered on the necessity of state bankruptcy as a means of averting state bailouts, while some commentators vaguely invoked the need to tread gingerly on state prerogatives under the 10th Amendment. However, the constitutionality of bankruptcy-for-states demands closer scrutiny given that the Supreme Court’s recent 10th Amendment jurisprudence has evolved in the direction of protecting state sovereignty.

The Article examines a pair of cases from the 1930s that contested the constitutionality of municipal bankruptcy, and argues that the principles handed down …

The Transnational Law Market, Regulatory Competition, And Transnational Corporations, Horst Eidenmuller

Indiana Journal of Global Legal Studies

In many regions of the world and across various fields, law has become a product. Individuals and companies seek attractive legal regulations, and countries advertise their legal wares globally as they compete for customers. Transnational corporations in particular are prominent actors in the emerging transnational law market. This article investigates the causes of this development and discusses these changes with respect to company law, contract law, the law of dispute resolution, and insolvency law. It assesses the market for legal rules and its practical consequences, and it provides legal policy recommendations for an efficient framework of the transnational law market. …

Lessons From The Nextwave Saga: The Federal Communications Commission, The Courts, And The Use Of Market Forms To Perform Public Functions, Rodger Citron, John Rogovin

Rodger Citron

No abstract provided.

Widener Law Analysis: Share Pain Or Deal With Bankruptcy, Juliet Moringiello, Michael Hussey

Michael Hussey

No abstract provided.

Widener Law Analysis: Share Pain Or Deal With Bankruptcy, Juliet Moringiello, Michael Hussey

Juliet M Moringiello

No abstract provided.

Trademark Licenses: Even In A Hypothetical Or Actual World, Footstar Got It Right, Saul Ehrenpreis

Student Articles and Papers

The core of many companies' business model depends heavily on access to a trademark license. Unfortunately, despite possessing a license and turning a profit, some of these companies run into difficulties and are forced to file for chapter 11. This article analyzes the legal issues faced by a company in this situation. First, it explores the existing tension at the intersection of bankruptcy and trademark law, then discusses the three approaches courts have taken to resolving this tension. It concludes with the proposal that only one of these approaches appropriately balances the competing interests at stake.

When The Bezzle Bursts: Restitutionary Distribution Of Assets After Ponzi Schemes Enter Bankruptcy, Mallory A. Sullivan

Washington and Lee Law Review

No abstract provided.

A New Approach To Section 363(F)3, Evan F. Rosen

Michigan Law Review

Section 363(f) of the Bankruptcy Code provides five circumstances in which a debtor may be permitted to sell property free of all claims and interests, outside of the ordinary course of business, and prior to plan confirmation. One of those five circumstances is contained in § 363(f)(3), which permits such a sale where the "interest is a lien and the price at which such property is to be sold is greater than the aggregate value of all liens on such property." While it is far from certain whether § 363(f)(3) requires a price "greater than the aggregate [face value] of …

Similarities Between Arbitration And Bankruptcy Litigation, Stephen Ware

Stephen Ware

The Chapter 13 Alternative: A Legislative Solution To Undersecured Home Mortgages, Hon. Samuel L. Bufford

University of Richmond Law Review

No abstract provided.

The Immediate And Lasting Impacts Of The 2008 Economic Collapse--Lehman Brothers, General Motors, And The Secured Credit Markets, Edward J. Estrada

University of Richmond Law Review

This article analyzes the early days of the credit crisis as well as two of the largest casualties of that period-Lehman Brothers and General Motors. In addition, by focusing on the bankruptcy proceedings of these two entities as well as other judicial decisions rendered since the financial crisis began, it examines the role that courts have played in the crisis.

Orderly Liquidation Authority: A New Insolvency Regime To Address Systemic Risk, Hollace T. Cohen

University of Richmond Law Review

No abstract provided.

Running On Empty: Municipal Insolvency And Rejection Of Collective Bargaining Agreements In Chapter 9 Bankruptcy, Richard W. Trotter Esq.

Richard W. Trotter Esq.

Abstract: This article conducts an in-depth analysis of the facts and law surrounding the potential modification and rejection of collective bargaining agreements by municipal debtors in Chapter 9 bankruptcy. American municipal governments are in the midst of a widespread financial crisis. Many are facing enormous budget deficits in 2011 and beyond. As a result, the heretofore-unthinkable option of filing for bankruptcy protection pursuant to Chapter 9 of the Federal Bankruptcy Code is becoming increasingly viable. One of the most vital issues presented by this poorly understood chapter of the Bankruptcy Code is if and how would-be municipal debtors can modify …

Running On Empty: Municipal Insolvency And Rejection Of Collective Bargaining Agreements In Chapter 9 Bankruptcy, Richard W. Trotter Esq.

Richard W. Trotter Esq.

Abstract: This article conducts an in-depth analysis of the facts and law surrounding the potential modification and rejection of collective bargaining agreements by municipal debtors in Chapter 9 bankruptcy. American municipal governments are in the midst of a widespread financial crisis. Many are facing enormous budget deficits in 2011 and beyond. As a result, the heretofore-unthinkable option of filing for bankruptcy protection pursuant to Chapter 9 of the Federal Bankruptcy Code is becoming increasingly viable. One of the most vital issues presented by this poorly understood chapter of the Bankruptcy Code is if and how would-be municipal debtors can modify …

Running On Empty: Municipal Insolvency And Rejection Of Collective Bargaining Agreements In Chapter 9 Bankruptcy, Richard W. Trotter Esq.

Richard W. Trotter Esq.

Abstract: This article conducts an in-depth analysis of the facts and law surrounding the potential modification and rejection of collective bargaining agreements by municipal debtors in Chapter 9 bankruptcy. American municipal governments are in the midst of a widespread financial crisis. Many are facing enormous budget deficits in 2011 and beyond. As a result, the heretofore-unthinkable option of filing for bankruptcy protection pursuant to Chapter 9 of the Federal Bankruptcy Code is becoming increasingly viable. One of the most vital issues presented by this poorly understood chapter of the Bankruptcy Code is if and how would-be municipal debtors can modify …

Federal Oil Price Controls In Bankruptcy Cases: Government Claims For Repayment Of Illegal Overcharges Should Not Be Subordinated And “Penalties” Under 11 Usc §726(A)(4), Thomas Schweitzer

Thomas A. Schweitzer

No abstract provided.

Not Out Of The (Fox)Woods Yet: Indian Gaming And The Bankruptcy Code, Emir Aly Crowne, Andrew Black, S. Alex Constantin

UNLV Gaming Law Journal

The recent economic downturn has caused Foxwoods Resort Casino, one of the largest casinos in the world, to seek a restructuring of nearly $1.5 billion in debt. Ordinarily, bankruptcy proceedings are triggered when a typical commercial enterprise defaults on its debt. Under these proceedings, creditors step in and collect monies owed to them before any residual equity is dispersed amongst owners. The rub here is that Foxwoods is owned and operated by the Mashantucket Western Pequot Tribal Nation, a sovereign nation under U.S. federal law. This triggers questions of paramountcy; namely, whether tribunal sovereignty can trump federal bankruptcy law.

These …

Similarities Between Arbitration And Bankruptcy Litigation, Stephen J. Ware

Nevada Law Journal

No abstract provided.