Law Commons^™

Sometimes, The House Loses: Caesars In Chapter 11, Mitchell Gladstein, Christian Wilkinson

Chapter 11 Bankruptcy Case Studies

No abstract provided.

Down The Drain: The Bankruptcy Of Insys Therapeutics, Inc., Leah Creathorn, Randi Thompson

Chapter 11 Bankruptcy Case Studies

No abstract provided.

Getting Out Of The Woods: Boy Scouts Bankruptcy, Dalton Maddox, Savannah Mcmillan

Chapter 11 Bankruptcy Case Studies

No abstract provided.

The Bankruptcy Of Remington Outdoor Company: All Bang, No Bucks, Bradshaw Behinfar, Shaun Douglas, Chad Zachman-Brockmeyer

Chapter 11 Bankruptcy Case Studies

No abstract provided.

Order Up! The Krystal Company Bankruptcy, W. Preston White, Jonathan E. Williams

Chapter 11 Bankruptcy Case Studies

No abstract provided.

The Guitar Center Bankruptcy: Getting The Band Back Together, Jonathan Jemison, Jacob Moses

Chapter 11 Bankruptcy Case Studies

No abstract provided.

The Reorganization Of Erickson, Incorporated Et Al., Taylor Grills, Ben Tarpley

Chapter 11 Bankruptcy Case Studies

No abstract provided.

Sports Authority: Another (Private Equity Owned) Retail Giant Caught Off Guard!, Matthew Homonnay, Katie Yoches, Luke S. Smith

Chapter 11 Bankruptcy Case Studies

No abstract provided.

Courts As Institutional Reformers: Bankruptcy And Public Law Litigation, Kathleen G. Noonan, Jonathan C. Lipson, William H. Simon

Faculty Scholarship

This article compares two spheres in which courts induce and oversee the restructuring of organizations that fail systematically to comply with their legal obligations: bankruptcy reorganization and public law litigation (civil rights or regulatory suits seeking structural remedies). The analogies between bankruptcy and public law litigation (PLL) have grown stronger in recent years as structural decrees have evolved away from highly specific directives to “framework” decrees designed to induce engagement with stakeholders and make performance transparent. We use the comparison with bankruptcy, where the value and legitimacy of judicial intervention are better understood and more accepted, to address prominent criticisms …

Disciplining Corporate Boards And Debtholders Through Targeted Proxy Access, Michelle M. Harner

Faculty Scholarship

Corporate directors committed to a failed business strategy or unduly influenced by the company’s debtholders need a dissenting voice—they need shareholder nominees on the board. This article examines the bias, conflicts, and external factors that impact board decisions, particularly when a company faces financial distress. It challenges the conventional wisdom that debt disciplines management, and it suggests that, in certain circumstances, the company would benefit from having the shareholders’ perspective more actively represented on the board. To that end, the article proposes a bylaw that would give shareholders the ability to nominate directors upon the occurrence of predefined events. Such …

Examining Success, Jonathan C. Lipson

Jonathan C. Lipson

Chapter 11 of the Bankruptcy Code presumes that managers will remain in possession and control of a corporate debtor. This presents an obvious agency problem: these same managers may have gotten the company into trouble in the first place. The Bankruptcy Code thus includes checks and balances in the reorganization process, one of which is supposed to be an “examiner,” a private individual appointed to investigate and report on the debtor’s collapse.

We study their use in practice. Extending prior research, we find that examiners are exceedingly rare, despite the fact that they should be “mandatory” in large cases ($5 …

Through Gritted Teeth And Clenched Jaw: Court-Initiated Sanctions Opinions In Bankruptcy Courts., Nancy B. Rapoport

St. Mary's Law Journal

Bankruptcy courts see too many incompetent bankruptcy lawyers, and the courts have few options for dealing with them. A court can rule against the lawyer, but this strategy punishes the lawyer’s client, who may be an innocent bystander. Alternatively, nothing prohibits a judge from deciding to hand down a sanctions opinion. Sanctions opinions arise when one party makes a request, or the court believes a lawyer’s behavior is serious enough to merit a written order. These instances include flouting the law—either bankruptcy law or the ethical rules—or being unaware of the fundamentals of bankruptcy practice and policy. In the instance …

Not-So-Critical Vendors: Redefining Critical Vendor Orders, Christopher D. Hunt

Kentucky Law Journal

No abstract provided.

The "New And Improved" Chapter 11, Stephen J. Lubben

Kentucky Law Journal

No abstract provided.

Mayday, Mayday!: How The Current Bankruptcy Code Fails To Protect The Pensions Of Employees, Amy Lassiter

Kentucky Law Journal

No abstract provided.

Bank Of America V. 203 North Lasalle Street Partnership: Cram Down Without Debtor Exclusivity--Good Or Bad For The Creditor?, Ann E. Nolan

Kentucky Law Journal

No abstract provided.

The Carryforward Of Net Operating Losses And Other Tax Attributes After Bankruptcy Reorganizations., Martin M. Van Brauman

St. Mary's Law Journal

When stock is exchanged for debt in a bankruptcy reorganization, potentially abusive tax situations can result if the reorganization occurs strictly for the carryforward of tax attributes to the acquiring corporation. The basic question is to what extent the discharge of indebtedness provisions, the application of the various statutory and judicial requirements, and the consolidated return regulations prohibit or restrict the carryforward of the tax history of the debtor corporation. Bankruptcy reorganization for a corporation under Chapter 11 of the Bankruptcy Code can take the form of either a recapitalization or a reorganization. Because a “G” reorganization involves a discharge …

Nlrb V. Bildisco & Bildisco: Rejection Of Collective Bargaining Agreements By Chapter 11 Debtors Receives High Court Approval, Robert E. Dooley

Northern Illinois University Law Review

A review of the litigation culminating in the NLRB v. Bildisco & Bildisco decision and its legislative impact.