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Full-Text Articles in Law

Chapter 11 Duration, Preplanned Cases, And Refiling Rates: An Empirical Analysis In The Post-Bapcpa Era, Foteini Teloni May 2015

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 May 2015

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 Bankruptcy Abuse Prevention And Consumer Protection Act: An Empirical Examination Of The Act's Business Bankruptcy Effects, Foteini Teloni May 2015

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 ...


Politics In The American Airlines-U.S. Airways Merger And Antitrust Settlement, Michelle Chan Jan 2014

Politics In The American Airlines-U.S. Airways Merger And Antitrust Settlement, Michelle Chan

Fordham Journal of Corporate & Financial Law

American Airlines was one of the airline industry’s darlings. A legacy airline, it was a household name, a massive entity, employed thousands, and commanded a fearsome presence among other industry players like unions and airport terminals. However, with ballooning costs and the red ocean airline industry’s evolution, American Airlines’ parent company, AMR, was forced into bankruptcy in November 2011. To emerge from Chapter 11, American Airlines and U.S. Airways announced plans to merge and come out a stronger, larger airline in February 2013. The Department of Justice Antitrust Division shortly thereafter filed a lawsuit opposing the merger ...


What We “Know” About Chapter 11 Cost Is Wrong, Stephen J. Lubben Jan 2012

What We “Know” About Chapter 11 Cost Is Wrong, Stephen J. Lubben

Fordham Journal of Corporate & Financial Law

Among the collective wisdom about large corporate bankruptcy cases, the following points are almost undisputed: Longer chapter 11 cases cost more; prepackaged chapter 11 cases cost less; cases filed in New York or Delaware cost more; and fee examiners control the costs of big chapter 11 cases. But each of these points is wrong, and in most cases entirely backward. This Article provides empirical evidence to show why. Ultimately, I argue that the complexity of the bankruptcy and the compensation structure of the professionals retained (which may itself reflect further aspects of complexity) are the key determinants of cost. The ...


Simultaneous Distress Of Residential Developers And Their Secured Lenders An Analysis Of Bankruptcy & Bank Regulation , Sarah Pei Woo Jan 2010

Simultaneous Distress Of Residential Developers And Their Secured Lenders An Analysis Of Bankruptcy & Bank Regulation , Sarah Pei Woo

Fordham Journal of Corporate & Financial Law

No abstract provided.


Who Is At The Table? Interpreting Disclosure Requirements For Ad Hoc Groups Of Institutional Investors Under Federal Rule Of Bankruptcy Procedure 2019, James M. Shea, Jr. Jan 2008

Who Is At The Table? Interpreting Disclosure Requirements For Ad Hoc Groups Of Institutional Investors Under Federal Rule Of Bankruptcy Procedure 2019, James M. Shea, Jr.

Fordham Law Review

This Note explores Federal Rule of Bankruptcy Procedure 2019's disclosure requirements when hedge funds and other institutional investors appear as groups in Chapter 11 cases. In particular, this Note traces the history of Rule 2019 and the various corporate reorganization mechanisms to explain the split between two bankruptcy courts on whether these groups constitute “committees” under Rule 2019. This Note cites the fundamental differences between these groups and protective committees--the committees charged with representing security holders under federal equity receiverships. Hence, ad hoc groups do not have to make detailed disclosures of each individual transaction, disclosure that would be ...


Small Business Reorganization And The Sabre Proposals, Karen M. Gebbia-Pinett Jan 2001

Small Business Reorganization And The Sabre Proposals, Karen M. Gebbia-Pinett

Fordham Journal of Corporate & Financial Law

No abstract provided.


Response: Small Business Reorganization And The Sabre Proposals, Joseph A. Guzinsky Jan 2001

Response: Small Business Reorganization And The Sabre Proposals, Joseph A. Guzinsky

Fordham Journal of Corporate & Financial Law

No abstract provided.


Post-Petition Earnings And Individual Chapter 11 Debtors: Avoiding A Head Start, Stacy L. Daly Jan 2000

Post-Petition Earnings And Individual Chapter 11 Debtors: Avoiding A Head Start, Stacy L. Daly

Fordham Law Review

No abstract provided.


Denial Of Discharge For Substantial Abuse: Refining—Not Changing—Banruptcy Law, Carl Felsenfeld Jan 1999

Denial Of Discharge For Substantial Abuse: Refining—Not Changing—Banruptcy Law, Carl Felsenfeld

Fordham Law Review

No abstract provided.


Time, Uncertainty, And The Law Of Corporate Reorganizations, John M. Czarnetzky Jan 1999

Time, Uncertainty, And The Law Of Corporate Reorganizations, John M. Czarnetzky

Fordham Law Review

No abstract provided.


Post-Petition Trading In Chapter 11 Claims: A Call For Augmentation Of Federal Rule Of Bankruptcy Procedure 3001(E)(2), Gordon Caplan Jan 1990

Post-Petition Trading In Chapter 11 Claims: A Call For Augmentation Of Federal Rule Of Bankruptcy Procedure 3001(E)(2), Gordon Caplan

Fordham Law Review

No abstract provided.


The Role Of Unions In The 1980s, Symposium, Filing A Post-Bildisco Chapter 11 Petition To Reject A Labor Contract, Bruce H. Simon, Barbara S. Mehlsack Jan 1984

The Role Of Unions In The 1980s, Symposium, Filing A Post-Bildisco Chapter 11 Petition To Reject A Labor Contract, Bruce H. Simon, Barbara S. Mehlsack

Fordham Law Review

No abstract provided.


The Role Of Unions In The 1980s, Symposium, Chapter 11 Of The Bankruptcy Act And Collective Bargaining Agreements: The Rejection Of Collective Bargaining Agreements Under The Bankruptcy Code - An Abuse Or Proper Exercise Of The Congressional Bankruptcy Power, Harvey R. Miller Jan 1984

The Role Of Unions In The 1980s, Symposium, Chapter 11 Of The Bankruptcy Act And Collective Bargaining Agreements: The Rejection Of Collective Bargaining Agreements Under The Bankruptcy Code - An Abuse Or Proper Exercise Of The Congressional Bankruptcy Power, Harvey R. Miller

Fordham Law Review

No abstract provided.


The Role Of Unions In The 1980s, Symposium, Chapter 11 Of The Bankruptcy Act And Collective Bargaining Agreements: The Rejection Of Collective Bargaining Agreements Under The Bankruptcy Code - An Abuse Or Proper Exercise Of The Congressional Bankruptcy Power, Harvey R. Miller Jan 1984

The Role Of Unions In The 1980s, Symposium, Chapter 11 Of The Bankruptcy Act And Collective Bargaining Agreements: The Rejection Of Collective Bargaining Agreements Under The Bankruptcy Code - An Abuse Or Proper Exercise Of The Congressional Bankruptcy Power, Harvey R. Miller

Fordham Law Review

No abstract provided.


The Role Of Unions In The 1980s, Symposium, Filing A Post-Bildisco Chapter 11 Petition To Reject A Labor Contract, Bruce H. Simon, Barbara S. Mehlsack Jan 1984

The Role Of Unions In The 1980s, Symposium, Filing A Post-Bildisco Chapter 11 Petition To Reject A Labor Contract, Bruce H. Simon, Barbara S. Mehlsack

Fordham Law Review

No abstract provided.