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Full-Text Articles in Bankruptcy Law

Bargaining Around Bankruptcy: Small Business Workouts And State Law, Edward R. Morrison Jan 2009

Bargaining Around Bankruptcy: Small Business Workouts And State Law, Edward R. Morrison

Faculty Scholarship

Federal bankruptcy law is rarely used by distressed small businesses. For every 100 that suspend operations, at most 20 file for bankruptcy. The rest use state law procedures to liquidate or reorganize. This paper documents the importance of these procedures and the conditions under which they are chosen using firm-level data on Chicago-area small businesses. I show that business owners bargain with senior lenders over the resolution of financial distress. Federal bankruptcy law is invoked only when bargaining fails. This tends to occur when there is more than one senior lender or when the debtor has defaulted on senior debt …


Casenote: The Emerald Casino Fiasco, 40 J. Marshall L. Rev. 1305 (2007), Cory Aronovitz, Jon Topolewski Jan 2007

Casenote: The Emerald Casino Fiasco, 40 J. Marshall L. Rev. 1305 (2007), Cory Aronovitz, Jon Topolewski

UIC Law Review

No abstract provided.


Rescuing The Rescued: Stemming The Tide Of Foreclosure Rescue Scams In Washington, Zachary E. Davies Jan 2007

Rescuing The Rescued: Stemming The Tide Of Foreclosure Rescue Scams In Washington, Zachary E. Davies

Seattle University Law Review

While foreclosure rescue scam (FRS) victims have many remedies under existing statutes, remedies are inadequate because they fail to holistically address the FRS problem. A successful statutory approach to combating the spread of this insidious scam must rest on three legs: education, enforcement, and litigation. First, homeowners facing foreclosure need timely warnings regarding the existence and prevalence of the FRS before the onslaught of FRSA solicitations begins. Next, in addition to education,homeowners need effective enforcement of the statutes that are supposed to protect them. Finally, homeowners wronged by FRSAs need to be able to seek civil relief that both adequately …


A Complete Property Right Amendment, John H. Ryskamp Oct 2006

A Complete Property Right Amendment, John H. Ryskamp

ExpressO

The trend of the eminent domain reform and "Kelo plus" initiatives is toward a comprehensive Constitutional property right incorporating the elements of level of review, nature of government action, and extent of compensation. This article contains a draft amendment which reflects these concerns.


Uniform Laws Or State Immunity? The Constitutionality Of Section 106(A) After Seminole, 39 J. Marshall L. Rev. 969 (2006), John F. Hiltz Jan 2006

Uniform Laws Or State Immunity? The Constitutionality Of Section 106(A) After Seminole, 39 J. Marshall L. Rev. 969 (2006), John F. Hiltz

UIC Law Review

No abstract provided.


Breaking The Bank: Revisiting Central Bank Of Denver After Enron And Sarbanes-Oxley, Celia Taylor Sep 2005

Breaking The Bank: Revisiting Central Bank Of Denver After Enron And Sarbanes-Oxley, Celia Taylor

ExpressO

No abstract provided.


Avoidance Theory According To Steve Nickles, David Gray Carlson Mar 2001

Avoidance Theory According To Steve Nickles, David Gray Carlson

Cardozo Law Review

No abstract provided.


Game Of High Stakes Roulette: Credit Card Companies Cash In On Gamblers' Bad Luck, 32 J. Marshall L. Rev. 1197 (1999), Maya Hoffman Jan 1999

Game Of High Stakes Roulette: Credit Card Companies Cash In On Gamblers' Bad Luck, 32 J. Marshall L. Rev. 1197 (1999), Maya Hoffman

UIC Law Review

No abstract provided.


Derivative Securities: Governmental Entities As End Users, Bankrupts And Other Big Losers, Robert C. Downs, Lenora J. Fowler Apr 1997

Derivative Securities: Governmental Entities As End Users, Bankrupts And Other Big Losers, Robert C. Downs, Lenora J. Fowler

Faculty Works

No abstract provided.


Local Government Finance Issues, Oregon Law Institute, Stephen T. Janik, Adrianne Brockman, David E. Erickson, Stephen Altshin, Dan Olsen, Richard Slottee, Sanford Landress, Kenneth E. Iltz, Timothy J. Sercombe, John H. Nelson, Paul Bleeg May 1995

Local Government Finance Issues, Oregon Law Institute, Stephen T. Janik, Adrianne Brockman, David E. Erickson, Stephen Altshin, Dan Olsen, Richard Slottee, Sanford Landress, Kenneth E. Iltz, Timothy J. Sercombe, John H. Nelson, Paul Bleeg

Oregon Law Institute, 1995

Course Materials from the May 19, 1995 Program in Portland


Bankruptcy Practice In Virginia: A Multifaceted Experience, Veryl Victoria Miles Jan 1995

Bankruptcy Practice In Virginia: A Multifaceted Experience, Veryl Victoria Miles

Scholarly Articles

No abstract provided.


The Non-Traceable 7501 Tax Trust And Bankruptcy Superpriority, Wayne Rodney Nov 1992

The Non-Traceable 7501 Tax Trust And Bankruptcy Superpriority, Wayne Rodney

Cardozo Law Review

No abstract provided.


The Controversy Over Section 548 Of The Bankruptcy Code In The Mortgage Arena: Making The Case For A Federal Statute Reforming The Foreclosure Process, 23 J. Marshall L. Rev. 683 (1990), Robert A. Glaves Jan 1990

The Controversy Over Section 548 Of The Bankruptcy Code In The Mortgage Arena: Making The Case For A Federal Statute Reforming The Foreclosure Process, 23 J. Marshall L. Rev. 683 (1990), Robert A. Glaves

UIC Law Review

No abstract provided.


Constructive Trusts In Bankruptcy, Emily Sherwin Jan 1989

Constructive Trusts In Bankruptcy, Emily Sherwin

Cornell Law Faculty Publications

No abstract provided.


Mediation In Debtor/Creditor Relationships, Edward A. Morse Jan 1987

Mediation In Debtor/Creditor Relationships, Edward A. Morse

University of Michigan Journal of Law Reform

Two states that have substantial interests in agricultural debtor/creditor relationships have attempted to limit the social and economic costs of prematurely terminating the debtor/creditor relationship. Iowa and Minnesota have adopted a statutory requirement that the creditor offer to submit to mediation prior to taking any debt collection action against an agricultural borrower. This Note argues that requiring creditors to offer mediation as a statutory prerequisite to debt collection is an effective means of reducing the social and economic costs of the premature termination of a debtor/creditor relationship in business contexts. Part I examines the conceptual foundations of the mediation process …


Erisa Retirement Plans In Individual Bankruptcy, John Minton Newell Oct 1985

Erisa Retirement Plans In Individual Bankruptcy, John Minton Newell

University of Michigan Journal of Law Reform

When an employee covered by an ERISA retirement plan files a petition in bankruptcy, the court is presented with a number of complex issues regarding the relationship among ERISA, the Bankruptcy Code (Code), and the state law of creditors' rights. Three issues have emerged in these cases, and the courts have divided on the proper resolution of each of these issues. First, is the debtor's interest in an ERISA retirement plan "property of the estate," and thus available for distribution to creditors? Second, if the debtor's interest is property of the estate, and the debtor uses the state exemption scheme, …


Ohio V. Kovacs (In Re Kovacs), 105 S. Ct. 705 (1985), Laura Lee Barrrow Jul 1985

Ohio V. Kovacs (In Re Kovacs), 105 S. Ct. 705 (1985), Laura Lee Barrrow

Florida State University Law Review

Bankruptcy Law-ENFORCEABILITY OF STATE ENVIRONMENTAL LAWS AGAINST BANKRUPT DEBTORS


Homestead And The Process Of History: The Proposed Changes In Article X, Section 4, Dennis J. Wall Jul 1978

Homestead And The Process Of History: The Proposed Changes In Article X, Section 4, Dennis J. Wall

Florida State University Law Review

No abstract provided.


Homestead Legislation In California, Charles Adams Jan 1978

Homestead Legislation In California, Charles Adams

Articles, Chapters in Books and Other Contributions to Scholarly Works

No abstract provided.


Security Aspects Of The Abc Transaction, John T. Schmidt Apr 1967

Security Aspects Of The Abc Transaction, John T. Schmidt

Michigan Law Review

In recent years, investments in subterraneous oil and gas have become a common addition to the investment portfolios of national financial institutions. Relying on the assurances of reputable geological studies, traditionally conservative financers have invested amounts ranging up to several hundred million dollars against collateral once accepted only by speculators and a few adventurous oil-country bankers. The increased interest in these investments is in part attributable to the development of the ABC method of financing the purchase of producing oil and gas properties. This method offers unique tax advantages, which have been discussed elsewhere, but also creates problems for the …


Debtor Exemptions In Personal Property--Proposals For Modernization, Paul D. Gudgel Jan 1963

Debtor Exemptions In Personal Property--Proposals For Modernization, Paul D. Gudgel

Kentucky Law Journal

No abstract provided.


Bankruptcy - Creditor's Right Against Entirety Property - Applicablity Of State Law When United States Is Plaintiff, James Cripe Apr 1960

Bankruptcy - Creditor's Right Against Entirety Property - Applicablity Of State Law When United States Is Plaintiff, James Cripe

Michigan Law Review

The United States as assignee sought a joint judgment on four unsecured promissory notes signed by the defendants, who are husband and wife. The proceeds of the notes were used to improve real property held by the entireties by the defendants. The husband had filed in bankruptcy before the assignment of the notes to plaintiff and was discharged from his joint and several liability on the promissory notes prior to the commencement of any action on them. His estate by the entireties, however, was not used to satisfy any listed debts because under state law he had no divisible title …


Federal Procedure-Applicability Of State Decisional Law Interpreting State Statutes Of Limitations Under Section 11 (E) Of The Bankruptcy Act, Charles E. Oldfather S.Ed Apr 1953

Federal Procedure-Applicability Of State Decisional Law Interpreting State Statutes Of Limitations Under Section 11 (E) Of The Bankruptcy Act, Charles E. Oldfather S.Ed

Michigan Law Review

Plaintiff is the trustee in bankruptcy of a Virginia corporation whose petition for reorganization under chapter X of the Bankruptcy Act was approved by a Virginia federal district court in 1942. Plaintiff filed this action in a New York federal district court under section 11 (e) of the Bankruptcy Act against defendant, the principal stockholder, and others for breach of fiduciary duty. The alleged breaches of duty occurred in 1927 and 1929. The defendant pleaded the New York statute of limitations and contended that it should be applied as interpreted by New York decisions, which hold that the statute begins …


Bankruptcy-Limitation Of Actions By Trustee As Affected By Section Ll(E) Of The Federal Bankruptcy Act, David H. Armstrong S.Ed. Jun 1949

Bankruptcy-Limitation Of Actions By Trustee As Affected By Section Ll(E) Of The Federal Bankruptcy Act, David H. Armstrong S.Ed.

Michigan Law Review

Trustee in bankruptcy sued to recover a preference voidable under a state statute which also provided that an action to recover such a preference must be commenced within six months after application for a trustee. The present suit was commenced one year after the bankruptcy petition was filed. Defendant moved to dismiss for failure to comply with statutory limitations. Held, motion denied. Section II(e) of the Bankruptcy Act supersedes the state statute of limitations in this case. Engstrom v. De Vos, (D.C. Wash. 1949) 81 F. Supp. 854.


Bankruptcy-Jurisdiction Of Bankruptcy Court To Determine Stockholders' Vote Necessary To Approve Proposed Sale Of Corporation's Assets To Debtor In Reorganization, Bernard Goldstone S. Ed. May 1949

Bankruptcy-Jurisdiction Of Bankruptcy Court To Determine Stockholders' Vote Necessary To Approve Proposed Sale Of Corporation's Assets To Debtor In Reorganization, Bernard Goldstone S. Ed.

Michigan Law Review

Lessee railroad, which had leased and operated property of lessor railroad for many years, entered reorganization under section 77 of the Bankruptcy Act. Under the plan of reorganization promulgated by the Interstate Commerce Commission and approved by the bankruptcy court, lessor was given the alternative of selling its property to the reorganized railroad or having the lease disaffirmed by the debtor and its property returned. This proposal was submitted for acceptance by a majority vote of lessor's stockholders. Respondents, stockholders of lessor, sought an injunction in a state court of Georgia to restrain lessor's officers from certifying the acceptance in …


Powers - Rights Of Donees' Creditors Against Property Subject Thereto When The Power Is General And Is Exercised By Will, Charles Wright, Ill Oct 1942

Powers - Rights Of Donees' Creditors Against Property Subject Thereto When The Power Is General And Is Exercised By Will, Charles Wright, Ill

Michigan Law Review

In general it is said that the majority of jurisdictions in the United States allow creditors of the donee of a general power of appointment, exercisable by deed or will, or by will only, to reach the appointive property when the power is exercised by will, if the donee's personal estate is insolvent and if the appointment is to a volunteer. It would appear from a survey of the authorities dealing with the question that only twenty states have spoken on the subject at all. Of that number only sixteen have decisions which can, by any stretch of the imagination, …


Bankruptcy - Rights Of Trustee As Against Mortgagee Under Mortgage Containing After-Acquired Property Clause, Charles D. Johnson Apr 1941

Bankruptcy - Rights Of Trustee As Against Mortgagee Under Mortgage Containing After-Acquired Property Clause, Charles D. Johnson

Michigan Law Review

A mortgage, containing an after-acquired property clause which described specifically many kinds of property which should pass under it when acquired, was given to bondholders as part of a refunding mortgage. Several mortgages were subsequently executed to the mortgagees covering some of the after-acquired property. After the intervention of bankruptcy a dispute arose between the mortgagees and the trustee over the right to possession of certain property not covered by the later mortgages and in the possession of the bankrupt at the time of the adjudication. Held, under section 47a(2) of the Bankruptcy Act, the trustee takes the property …


Bankruptcy - Effect Of Discharge - Suspension Of Driver's License For Non-Payment Of Judgment As Conflicting With The Bankruptcy Act, Walter Muller Feb 1941

Bankruptcy - Effect Of Discharge - Suspension Of Driver's License For Non-Payment Of Judgment As Conflicting With The Bankruptcy Act, Walter Muller

Michigan Law Review

Under section 94-b of the New York Vehicle and Traffic Law, as amended in 1936 and 1939, if a judgment entered against a driver for 'damages for injury to person or property remains unpaid for fifteen days, the clerk of the court where the judgment was entered must (but only upon written demand of the judgment creditor) forward a copy thereof to the commissioner of motor vehicles, whose duty it then becomes to suspend the driving license of such judgment debtor; further, section 94-c provides (a) that such suspension shall continue for such part of three years as the judgment …


Fraudulent Conveyances - Executory Consideration As "Fair Consideration" Under The Uniform Fraudulent Conveyance Act, Robert Kneeland Feb 1941

Fraudulent Conveyances - Executory Consideration As "Fair Consideration" Under The Uniform Fraudulent Conveyance Act, Robert Kneeland

Michigan Law Review

Plaintiff, a purchaser of mortgaged realty, claimed that there had been a series of conveyances of this property originating with a remote grantor, fraudulent as to said grantor's creditors. At the time plaintiff learned of this, he had already paid taxes on the property and paid $4605 on the purchase price, leaving a balance of $2986 due on his contract. Since, allegedly, plaintiff would have been subject to an action of the creditors to have the conveyance to him set aside/ plaintiff sought to join all creditors and defrauders in an attempt to clear the title, or, if the transaction …


Bankruptcy-Corporate Reorganization - Fraternal Benefit Society Entitled To Benefits Of Section 77b, Russel T. Walker May 1939

Bankruptcy-Corporate Reorganization - Fraternal Benefit Society Entitled To Benefits Of Section 77b, Russel T. Walker

Michigan Law Review

Plaintiff's right to petition for reorganization under section 77 B of the Bankruptcy Act was challenged on the ground that plaintiff was an "insurance corporation" within the meaning of section 4 of the Bankruptcy Act and therefore excepted from the benefits of the act. Held, that when Congress used the words "insurance corporation" in the Bankruptcy Act, it meant a corporation authorized by the law of its creation to do an insurance business. As Congress knew that the various States had authorized the formation of fraternal benefit societies, described as such in enabling statutes, when Congress passed this statute …