Bankruptcy Law | Open Access Articles | Digital Commons Network™

Fear Not The Asset Protection Trust, Adam J. Hirsch

Cardozo Law Review

No abstract provided.

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

ExpressO

No abstract provided.

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Academics And Bioterrorists: New Thinking About The New Terror, Richard Danzig

Cardozo Law Review

No abstract provided.

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Making Sense Of Successor Liability, Marie T. Reilly

Faculty Scholarship

A firm that buys assets from another firm ordinarily does not acquire liability to the seller's creditors simply by buying its assets. This ordinary rule is subject to important exceptions. The buyer's consent triggers an exception. If a buyer agrees to assume the seller's liability to third parties, it is for that reason liable. This article considers a more controversial exception - successor liability. When a court decides that an asset acquirer should be treated as a "successor" to the transferor, it is liable for the transferor's debts as though it were the transferor.

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Will Big Tobacco Seek Bankruptcy Protection? A $145 Billion Verdict Poses The Question, Mark Gottlieb, Richard A. Daynard

William & Mary Environmental Law and Policy Review

No abstract provided.

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The Manville Personal Injury Settlement Trust: Lessons For The Future, Frank J. Macchiarola

Cardozo Law Review

I will outline the story of the Manville Personal Injury Settlement Trust. While reading this tale, I urge the reader to ask the following questions: Was the Trust procedure effective? Could other procedures have better resolved the difficulties faced by asbestos victims? Could these other procedures fit into the legal framework, or does equity demand that a workable solution fall outside the legal structure? Could the system developed for the Trust be adapted for future mass torts, or did it simply result from compromises that would not have occurred save for the fact that there was no "bottomless pit" of …

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Table Of Contents - Cardozo Law Review, Volume 15, Issue 5

Cardozo Law Review

No abstract provided.

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Chapter 13'S Liberal Discharge Provisions And "Willful And Malicious" Tort Judgments: Creditor Classification As A Means Of Accounting For The Debtor's Egregious Action, Robert L. Miller

William & Mary Law Review

No abstract provided.

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Re-Vision Of The Bankruptcy System: New Images Of Individual Debtors, Karen Gross

Michigan Law Review

A Review of As We Forgive Our Debtors: Bankruptcy and Consumer Credit in American by Teresa A. Sullivan, Elizabeth Warren, and Jay Lawrene Westbrook

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Corporate Behavior And The Social Efficiency Of Tort Law, John A. Siliciano

Cornell Law Faculty Publications

No abstract provided.

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Toxic Torts And Chapter 11 Reorganization:The Problem Of Future Claims, Anne Hardiman

Vanderbilt Law Review

Recently, the toxic tort phenomenon has emerged as a vital concern to manufacturers, employers, and consumers as Agent Orange,' DES, Dalkon Shield, and asbestos victims have litigated toxic tort claims. Toxic torts are unique because any number of victims may be exposed to a toxic substance from which they may contract a disease as far as twenty years in the future. Toxic tort claims typically involve large sums of money and an inestimable number of plaintiffs. The potential for tremendous, financially crippling, liability for these injuries has prompted some asbestos companies to file for reorganization under Chapter 11 of the …

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The Impact Of A Solvent Corporation's Reorganization On Products Liability Claimants, Hal B. Perkins

Cardozo Law Review

No abstract provided.

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The Manville Bankruptcy: Treating Mass Tort Claims In Chapter 11 Proceedings, Robert L. Jones Jr.

Journal Articles

The reorganization petition filed by the Manville Corporation, the nation’s largest asbestos manufacturer in 1982 is an attempt by a healthy and solvent corporation to declare bankruptcy. It differs greatly from a traditional reorganization case, which involves a debtor that knows who its creditors are and how much it owes them. Manville does not know who the majority of its creditors are or the amount of its potential tort liability. It is instead using the 1978 Bankruptcy Reform Act's Chapter 11 reorganization provisions to seek shelter from a huge but speculative tort liability. In doing so Manville presents a major …

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Tort Claims Under The Present And Proposed Bankruptcy Acts, Stephen Allen Edwards

University of Michigan Journal of Law Reform

Congress may soon enact the first complete revision of the United States bankruptcy laws in almost four decades. Among the numerous changes proposed by the legislature is a major alteration of the provability and dischargeability of tort claims asserted against the bankrupt's estate. This article will discuss the treatment of tort claims in the present Act and the changes to be made by the proposed Act, and will evaluate alternative approaches to compensating victims of bankrupt tortfeasors.

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Insurance Law - Recovery - Action For Wrongful Refusal To Settle Claim Precluded By Bankruptcy Of Insured, James A. Mcdermott

Michigan Law Review

The plaintiff, as trustee in bankruptcy of the insured, sued the defendant insurer to recover damages resulting from a judgment entered against the insured in a personal injury suit. This judgment subjected the insured to a liability of 89,000 dollars in excess of the 10,000 dollar automobile liability_ coverage carried with the insurer. The insurer, pursuant to its policy, had undertaken the insured's defense and had failed, allegedly in bad faith, to settle the suit for an amount within the limits of its coverage. Before judgment was entered in the personal injury suit the insured was insolvent; six months following …

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Limitations Of Action-Statute Of Limitations As Guide For Determination Of Laches Where Concurrent Remedies Are Available In Law And Equity, Craig E. Davids S.Ed.

Michigan Law Review

In 1926 Bovay, one of the complaining trustees in bankruptcy herein, organized an Arkansas corporation to construct and operate a vehicular traffic bridge across the Mississippi River. Defendants agreed to finance the project but were dissatisfied with the voting control of the Arkansas corporation lodged in Bovay and organized a Delaware corporation, the bankrupt herein, to take an assignment of the bridge franchise. The bankrupt issued 60,000 shares of no par value common stock, 40,000 shares going to defendants though no consideration was paid, and 20,000 shares to Bovay. Defendants also named five of the nine members of the board …

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Trusts - Tort Liability Of Trustee In His Representative Capacity, Reid J. Hatfield

Michigan Law Review

Plaintiff brought suit to recover damages for injuries allegedly sustained because of the unsafe condition of a hotel building owned and operated by the defendant trustee. The trustee was an insolvent bank and trust company in the hands of the state superintendent of banks, who was also joined as defendant. The prayer was for a "judgment against the defendants in their fiduciary capacity toward the trust." On appeal of the lower court's judgment sustaining defendants' demurrer, held, that the trustee could be sued in his representative capacity. Carey v. Squire, 63 Ohio App. 476, 27 N. E. (2d) …

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Bankruptcy -Trustee's Liability - Effect Of Requirement Of Deposit In Designated Depositary On Trustee's Common Law Duty Of Due Care, Russel T. Walker

Michigan Law Review

In a suit to charge a trustee in bankruptcy for the loss of funds of the bankrupt estate caused by insolvency of the depositary bank, the trustee contended that as he had fulfilled the requirement of section 61 of the Bankruptcy Act by depositing the funds of the estate in a "designated depositary," he could not be charged with liability for any loss occurring thereafter; he argued that section 61 repealed, by implication, the trustee's common-law duty of due care in the handling of estate funds after they were deposited in a "designated depositary." Held, the fact that the …

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Torts - Negligent Misrepresentations - Information Gratuitously Supplied, Michigan Law Review

Michigan Law Review

Plaintiffs, who were liquidating trustees of a building and loan association, alleged that the association requested defendant to send it a copy of a certain will, but that defendant, who was trustee under the will, sent the association a copy of another will. Since the testators bore the same name, the association did not realize the error, but relied on the copy and suffered a loss which it would not have suffered if it had known the true state of facts. Plaintiffs sued to recover the loss. Held, plaintiffs have not stated a cause of action, inasmuch as they …

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Torts-Negligent Misrepresentation-Duty Arising From Contract To Persons Not Parties

Michigan Law Review

The defendants, accountants, examined the books of the Stern Co., knowing that their balance sheet and 32 certified copies would be exhibited as a basis for future credit, but not knowing of the plaintiff particularly. Through negligence they failed to discover and report insolvency. Relying upon the report showing a solvent concern plaintiff extended credit to the Stem Co. He sued for his loss in two counts, negligence and fraud. Held, defendants had no duty to plaintiff to exercise due care, so he can not recover for negligence in the examination. But defendants might be liable for fraud as …

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Recent Important Decisions; Book Reviews, Edwin C. Goddard, John R. Rood

Michigan Law Review

A collection of recent important court decisions and book reviews.

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Note And Comment, Walter F. Whitman, William C. Mullendore, Myron Mclaren, Harry B. Sutter, Renville Wheat

Michigan Law Review

Attempt, Assault, and Assault with Intent - The case of State v. Lewis, decided in October, 1915, by the Supreme Court of Iowa, has an interesting bearing upon the law of assault and of criminal attempts. Two men, Tropp and Cox, observed a third, Dunlevy, asleep on a cot with a pocketbook under his pillow. Tropp armed himself with a leather sap and a loaded revolver and moved quietly to the head of the cot, when Dunlevy, feeling the presence of some one in the room, sprang to his feet. Tropp fled from the room with Dunlevy after him, but …

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