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Bankruptcy Policymaking In An Imperfect World, Elizabeth Warren
Bankruptcy Policymaking In An Imperfect World, Elizabeth Warren
Michigan Law Review
This essay is about bankruptcy policy. It attempts to articulate a comprehensive statement about the various and competing goals that underlie the bankruptcy system. The essay offers both a positive observation, drawn from the Code and its operation, and a normative evaluation, designed to outline the difficult value judgments that comprise the bankruptcy system. It also serves warning: before commentators propose any sweeping changes or policymakers take seriously any suggestions to scrap the system, they must consider the impact of such proposals on a number of competing normative goals.
Labor Law Successorship: A Corporate Law Approach, Edward B. Rock, Michael L. Wachter
Labor Law Successorship: A Corporate Law Approach, Edward B. Rock, Michael L. Wachter
Michigan Law Review
In this article, we take an approach fundamentally different from that of the labor law commentators. We start from a broader perspective than is common: successorship is as important an issue for corporate law as it is for labor law. Given that the two principal inputs to the firm are labor and capital, it would be surprising if the laws for labor law successorship were completely different from the laws for corporate law successorship. To the extent that differences exist, those differences should hinge upon differences between the employees' and the creditors' relationships with the firm.