Bankruptcy Law Commons^™

Successor Liability In The Bankruptcy Context: The Problem Or The Solution?, Chelsea Donenfeld

Cardozo Law Review

No abstract provided.

Beyond Gifting: Harmonizing The Devolution Of Reorganization Plan Gifts And The Evolution Of Sale Gifts, Reuben E. Dizengoff

Cardozo Law Review

The ntoe critiques the rigidity of the Absolute Priority Rule (APR) under Chapter 11 of the Bankruptcy Code, arguing that its strict application hinders effective restructuring. It proposes Section 363 sales as a viable alternative to achieve Chapter 11 goals, particularly when plan confirmation is unattainable due to senior creditor objections. The analysis highlights how Section 363 sales can legally redirect assets to junior stakeholders, offering a workaround to APR limitations. The note concludes that harmonizing gifting in reorganization plans with Section 363 sales could provide a balanced approach to bankruptcy restructuring.

Law And Legislation In Municipal Bankruptcy, Vincent S.J. Buccola

Cardozo Law Review

Corporate and consumer bankruptcy are defined by two principal features: a compulsory process and an identifiable set of priorities to debtor property. These "rule of law"features reduce borrowing costs ex ante by, among other things, discouraging rent-seeking ex post. Municipal bankruptcy, by contrast, despite apparent similarities, embodies a radically different vision of debt adjustment. Substantive priorities in Chapter 9 are riddled with uncertainty, and the very invocation of bankruptcy is subject to veto by multiple actors. Consequently, this Article contends that familiar models of bankruptcy are inadequate to explain the existing regime of municipal debt adjustment. What Chapter 9 creates …

Till V. Scs Credit Corporation: A "Prime-Plus-Plus" Method Tilling Courts To Consider Efficient Market Evidence, Emma J. Guido

Cardozo Law Review

No abstract provided.

Creditor Claims For Postpetition Attorneys' Fees Incurred In Bankruptcy Litigation And The Role Of State Law, Laith Hamdan

Cardozo Law Review

No abstract provided.

Class Warfare: The Disappearance Of Low-Income Litigants From The Civil Docket, Myriam Gilles

Articles

In recent years, much attention has been paid to the startling disparities in income and wealth in contemporary U.S. society. The enormous concentration of economic power in the top 1% is the culmination of decades of significant income and wealth gains for the top, combined with stagnant or decreasing growth for the majority - a trend that continues apace. But nowhere is the gap more glaring than in the civil docket, where class actions brought by or on behalf of low-income consumers and employees are on the verge of disappearing.

To be sure, the decline in class actions is only …

Postdefault Interest Rates In Bankruptcy, David G. Carlson

Articles

This Article shows that as Bankruptcy Code section 506(b) is currently written, postdefault interest rates are prohibited when the default is an “ipso facto event” — a filing for bankruptcy or insolvency as the event of a default. Yet some courts have insisted on postdefault interest in situations reinstating a loan agreement and have been ignoring restrictions on pendency interest to permit oversecured creditors from obtaining penalty rates of interest. This Article argues that those holdings violate section 506(b) and Supreme Court precedent. It begins with an analysis of ipso facto defaults, showing that the Bankruptcy Code prohibits ipso facto …

Non-Dischargeability Of Mixed Student Debt, Jordan Weiss

Cardozo Public Law, Policy & Ethics Journal

No abstract provided.

Everybody Wins! Elimination Of The Absolute Priority Rule For Individuals Under Bapcpa: A Middle Ground, Liliya Gritsenko

Cardozo Law Review

No abstract provided.

Chapter 9 Bankruptcy In California: The Efficacy Of Mandating Alternative Dispute Resolution In Municipal Bankruptcy Filings, Michael Galen

Cardozo Journal of Conflict Resolution

The subject of this Note is of importance to ADR practitioners: the incorporation of ADR into a new state law can mitigate a heated legal struggle involving state and federal law, while balancing the competing interests of powerful parties like local governments and large unions. This subject demonstrates the efficacy of ADR as applicable to bankruptcy law, a realm with which many ADR practitioners may be unfamiliar. This Note's case study focuses solely on California law and cases because California stands alone in its approach of mandating ADR as a precondition to a municipal bankruptcy filing. Since all states have …

Substance Vs. Form: Rethinking The Scope Of Dodd-Frank's End-User Clearing Exception In Light Of Systemic Risk, David Hamid

Cardozo Public Law, Policy & Ethics Journal

No abstract provided.

Adr's Place In Foreclosure: Remedying The Flaws Of A Securitized Housing Market, Lydia Nussbaum

Cardozo Law Review

Millions of Americans lost their homes during the foreclosure crisis, an unprecedented disaster still plaguing local and national economies. A primary factor contributing to the crisis has been the failure of conventional foreclosure procedures to account for the new realities of securitization and the secondary mortgage market, which transformed the traditional borrower-lender relationship. To compensate for the shortcomings of conventional foreclosure procedures and stem the tide of residential foreclosure, state and local governments turned to ADR processes for a solution. Some foreclosure ADR programs, however, have greater potential to avoid foreclosures than others. This Article comprehensively examines the key components …

Municipal Securities: The Crisis Of State And Local Government Indebtedness, Systemic Costs Of Low Default Rates, And Opportunities For Reform, Christine Sgarlata Chung

Cardozo Law Review

No abstract provided.

Panel Iii: Politics And The Public In Ip & Info Law Policy Making, Michael J. Burstein, Derek Khanna, Jessica Littnan, Sherwin Siy, Richard S. Whitt

Cardozo Arts & Entertainment Law Journal

No abstract provided.

Protecting The Innocent - The Need To Adapt Federal Asset Forfeiture Laws To Protect The Interests Of Third Parties In Digital Asset Seizures, Elizabeth Friedler

Cardozo Arts & Entertainment Law Journal

No abstract provided.

Critique Of Money Judgment Part Three: Restraining Notices, David G. Carlson

Articles

New York is virtually unique in permitting lawyers to issue court orders restraining debtors and third parties from conveying away any assets that could be used to satisfy a money judgment. In effect, these orders command the recipient to do nothing, whereas a turnover or garnishment orders the recipient to do something — pay the creditor or sheriff or surrender illiquid property to the sheriff. The weakness and strength of this debt collection tool is assessed at length. The Article also analyzes in detail New York’s Exempt Income Protection Act, enacted in 2008 to force banks to protect the exempt …

California Dreaming: The California Secure Choice Retirement Savings Trust Act, Edward A. Zelinsky

Articles

Half of American workers are not covered by employer-sponsored retirement arrangements. The recently passed California Secure Choice Retirement Savings Trust Act seeks to solve this problem by mandating retirement savings arrangements for California employers, coupled with a public investment vehicle for investing these private retirement savings. The Act is important because of California’s size and status as a trendsetter for other states.

This Article is the first to examine the important legal questions the Act raises under the Internal Revenue Code and ERISA. Contrary to the drafters’ intent, the savings accounts authorized under the Act do not qualify as individual …

For Richer Or Poorer: The Defense Of Marriage Act's Waning Legitimacy In Bankruptcy Court, Colin M. Bowes

Cardozo Journal of Equal Rights & Social Justice

No abstract provided.

To Kill A Mockingbird Mediator?: Assessing The Need For Third-Party Neutrals In Federal Bankruptcy Courts' Home Foreclosure Avoidance Programs, Lancelot L. Esteibar

Cardozo Journal of Conflict Resolution

This Note proceeds in four parts. First, Part I provides background information on the mortgage crisis, the loss mitigation processes, and current federal, state, and bankruptcy court programs aimed towards preventing foreclosure. Second, Part II describes the role of a mediator and the process of mediation. Third, Part III examines barriers to effective negotiation and why mediators can assist in overcoming those obstacles in the bankruptcy courts' loss mitigation programs. Finally, Part IV offers an alternative to the direct negotiation model prescribed by the S.D.N.Y., E.D.N.Y., and D.R.I. loss mitigation programs.

Abuse, Mediation And The Catholic Church: How Enforcing And Improving Existing Statutes Will Help Victims Recover, Jeffrey Pruzan

Cardozo Journal of Conflict Resolution

Allegations of sexual abuse at the hands of religious figures is an epidemic that has spread throughout the United States and abroad.' In the United States alone, U.S. bishops have reported receiving allegations of abuse committed by 6,115 Catholic priests, or 5.6 percent of the 109,694 active U.S. priests since 1950. The U.S. bishops also reported receiving allegations from 15,235 victims, or 2.6 victims per priest; however, this figure is universally acknowledged to be low. Some estimates put the number of victims in the United States at over 280,000.

Cars In Chapter 13: Does Negative Equity Destroy The Jurisdiction Of The Hanging Paragraph, David G. Carlson

Articles

Roughly speaking, the “hanging paragraph” to Bankruptcy Code 1325(a), enacted in 2005, requires that a debtor pay the full debt on any automobile acquired within 910 days before bankruptcy – a boon for car financiers. Prior to 2005 the debtor had to pay only the appraised value of the car – usually a lesser amount. But the privilege bestowed on car financiers by the hanging paragraph depends on the financier providing “purchase money” credit. About one-third of the time, however, the financier advances funds to repay a prior car loan as part of the “trade-in” of an old vehicle for …

Lien Priorities: The Defects Of Limiting The "Super Priority" For Common Interest Communities, Daniel Goldmintz

Cardozo Law Review

No abstract provided.

Chair's Message, Michael Herz

Articles

No abstract provided.

Japan's Business Revitalization Adr: An Economic Savior Or A Convenient Excuse To Avoid Bankruptcy?, Naoko Okamoto

Cardozo Journal of Conflict Resolution

This Note analyzes Japan's newly enacted "Business Revitalization Alternative Dispute Resolution" (ADR) and its effectiveness in revitalizing the Japanese economy. Due to ADR's economic and procedural ease, Business Revitalization ADR has been employed by companies undergoing revitalization processes and negotiating with creditors in extending debt payments. Nonetheless, ADR proceedings, specifically mediation between creditors and debtors, create only short-term economic value. Because of cultural characteristics of mediation and the nature of mediation in the business context in Japan, Business Revitalization ADR may be subject to abuse by companies that should have gone bankrupt. In fact, many companies may save themselves from …

Copyrights And Creditors: What Will Be Left Of The King Of Pop's Legacy?, Jessica Bozarth

Cardozo Arts & Entertainment Law Journal

No abstract provided.

Orphaned Art Consignors: Confusion In The Courts And The Ucc, Michael Madigan

Cardozo Arts & Entertainment Law Journal

No abstract provided.

The Federal Rules Of Bankruptcy Procedure In Reorganization Cases: Do They Have A Constitutional Dimension?, David G. Carlson

Articles

The article examines the implications of the Supreme Court's decision in United Student Aid Funds, Inc. v. Espinosa, which significantly impacts bankruptcy law by establishing that due process in bankruptcy reorganization cases is governed by the minimalist standard set forth in Mullane v. Central Hanover Bank & Trust Co. This ruling undermines the constitutional dimension of the Bankruptcy Rules, strengthens the finality of reorganization plans under res judicata, and affects the discharge of student loans without an adversary proceeding. The decision highlights the tension between due process rights of creditors and the finality of bankruptcy court rulings, while also reshaping …

Towards A Concensus On The Treatment Of Multinational Enterprise Groups In Insolvency, Irit Mevorach

Cardozo Journal of International and Comparative Law

Insolvency of multinational enterprise groups is a complex and difficult process, which is partly why it has, thus far, failed to receive comprehensive treatment in legal regimes, despite its major importance. However, with UNCITRAL Working Group V recently taking this topic on board, this situation may change. The deliberations have now reached the final stages; it is therefore the aim of this paper to evaluate whether the Working Group's current proposals are normatively attractive and whether they are feasible (in terms of being embraced by legal regimes). The paper focuses on the deliberations regarding the international aspects of enterprise groups …

Orthodox Jewish Women And Eligibility For The Parsonage Exemption, Jacob Lewin

Cardozo Journal of Equal Rights & Social Justice

The note examines the eligibility of Orthodox Jewish women for the parsonage exemption under Section 107 of the Internal Revenue Code, arguing that unordained women can qualify if they hold formal theological degrees, despite lacking formal ordination or certification. It critiques Michael Broyde’s proposal that functional roles alone suffice, asserting that requiring formal licensing or certification prevents abuse of the exemption while ensuring its purpose of supporting religious leadership is maintained.

The Bankruptcy Hegemon: Section 524(A) And Its Effect On State And Federal Comity, Benjamin Margulis

Cardozo Law Review

No abstract provided.