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Bankruptcy Law Commons

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2004

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Institution
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Articles 31 - 60 of 72

Full-Text Articles in Bankruptcy Law

The Reliance Interest In Insolvency Law: A Response To Harris And Mooney, Edward J. Janger Apr 2004

The Reliance Interest In Insolvency Law: A Response To Harris And Mooney, Edward J. Janger

Cardozo Law Review

No abstract provided.


The Unfortunate Life And Merciful Death Of The Avoidance Powers Under Section 103 Of The Durbin-Delahunt Bill: What Were They Thinking?, Steven L. Harris, Charles W. Mooney Jr. Apr 2004

The Unfortunate Life And Merciful Death Of The Avoidance Powers Under Section 103 Of The Durbin-Delahunt Bill: What Were They Thinking?, Steven L. Harris, Charles W. Mooney Jr.

Cardozo Law Review

No abstract provided.


Debts, Divorce And Disarray In Bankruptcy, Margaret M. Mahoney Mar 2004

Debts, Divorce And Disarray In Bankruptcy, Margaret M. Mahoney

ExpressO

The article addresses a point of intersection between federal bankruptcy law and state family law. Specifically, I deal with the various issues that arise when a former spouse to whom pre-existing marital debts were allocated at the time of divorce subsequently declares bankruptcy. A review of the legal literature reveals very little attention paid to the rights of the third-party marital creditor, the obligated spouse, and the other former spouse as to allocated debts, when the obligated spouse declares bankruptcy. While there is a significant body of work dealing generally with the treatment of divorce-related debts in bankruptcy, none of …


Corporate Cancellation Of Indebtedness Income And The Debt-Equity Distinction, Katherine Pratt Mar 2004

Corporate Cancellation Of Indebtedness Income And The Debt-Equity Distinction, Katherine Pratt

ExpressO

This Article considers whether a corporation should have cancellation of indebtedness income (COD income) when it issues new stock or debt in exchange for its outstanding debt. It challenges the conventional wisdom about our current tax treatment of these exchanges and suggests alternative approaches. It also stresses the relationship between the COD income rules and the corporate interest deduction rules, and highlights the error correction function of the COD income rules. The current COD income rules applicable in debt-for-debt and stock-for-debt exchanges were enacted without regard for certain economic incentives they create. Consideration of these economic incentives may warrant a …


Contracting Out Of Bankruptcy: An Empirical Intervention, Jay L. Westbrook, Elizabeth Warren Mar 2004

Contracting Out Of Bankruptcy: An Empirical Intervention, Jay L. Westbrook, Elizabeth Warren

ExpressO

No abstract provided.


The Role Of History And Culture In Developing Bankruptcy And Insolvency Systems, Nathalie Martin Mar 2004

The Role Of History And Culture In Developing Bankruptcy And Insolvency Systems, Nathalie Martin

ExpressO

No abstract provided.


Credible Coercion, Oren Bar-Gill, Omri Ben-Shahar Mar 2004

Credible Coercion, Oren Bar-Gill, Omri Ben-Shahar

Law & Economics Working Papers Archive: 2003-2009

The ideal of individual liberty and autonomy requires that society provide relief against coercion. In the law, this requirement is often translated into rules that operate “post-coercion” to undo the legal consequences of acts and promises extracted under duress. This Article argues that these ex-post anti-duress measures, rather than helping the coerced party, might in fact hurt her. When coercion is credible—when a credible threat to inflict an even worse outcome underlies the surrender of the coerced party—ex post relief will only induce the strong party to execute the threatened outcome, to the detriment of the coerced party. Anti-duress relief …


Proprietary Relief Without Rescission, Hang Wu Tang Mar 2004

Proprietary Relief Without Rescission, Hang Wu Tang

Research Collection Yong Pung How School Of Law

The decision of the Court of Appeal in Halley v. The Law Society [2003] EWCA Civ 97 has the potential to muddy the waters of the law of rescission. It is a fundamental principle that a fraudulent misrepresentation renders a contract voidable at the instance of the representee (Bristol and West Building Society v. Mothew [1998] Ch. 1, 22). Modern authorities suggest that the representee does not have any proprietary interest in property transferred by him pursuant to the contract before rescission (see Bristol and West Building Society v. Mothew [1998] Ch. 1, 22-23; Twinsectra Ltd. v. Yardley [1999] Lloyd's …


The Power Of The Bankruptcy Court To Enjoin Creditor Claims Against Nondebtor Parties In Light Of 11 U.S.C. § 524( E): In Re Dow Corning Corp., Jason J. Jardine Mar 2004

The Power Of The Bankruptcy Court To Enjoin Creditor Claims Against Nondebtor Parties In Light Of 11 U.S.C. § 524( E): In Re Dow Corning Corp., Jason J. Jardine

BYU Law Review

No abstract provided.


The Unfortunate Life And Merciful Death Of The Avoidance Powers Under Section 103 Of The Durbin-Delahunt Bill: What Were They Thinking?, (With C. Mooney, Jr.)., Steven L. Harris Feb 2004

The Unfortunate Life And Merciful Death Of The Avoidance Powers Under Section 103 Of The Durbin-Delahunt Bill: What Were They Thinking?, (With C. Mooney, Jr.)., Steven L. Harris

All Faculty Scholarship

No abstract provided.


Self-Organizing Legal Systems: Precedent And Variation In Bankruptcy, Bernard Trujillo Jan 2004

Self-Organizing Legal Systems: Precedent And Variation In Bankruptcy, Bernard Trujillo

Law Faculty Publications

Models of legal ordering are frequently hierarchical. These models do not explain two prominent realities: (1) variation in the content of a legal system, and (2) patterns of non-hierarchical ordering that we observe. As a supplement to hierarchical explanations of legal order, this Article, drawing from physical and social science research on complex systems, offers a self-organizing model. The self-organizing model focuses on variation in the content of legal systems and attempts to explain the relationship between that variation and patterns of ordering. The self-organizing model demonstrates that variation and ordering are not opposite categories, but rather constitute one continuous …


Bankruptcy And Mortgage Lending: The Homeowner Dilemma, 38 J. Marshall L. Rev. 19 (2004), A. Mechele Dickerson Jan 2004

Bankruptcy And Mortgage Lending: The Homeowner Dilemma, 38 J. Marshall L. Rev. 19 (2004), A. Mechele Dickerson

UIC Law Review

No abstract provided.


203 N. Lasalle Five Years Later: Answers To The Open Questions, 38 J. Marshall L. Rev. 61 (2004), Paul B. Lewis Jan 2004

203 N. Lasalle Five Years Later: Answers To The Open Questions, 38 J. Marshall L. Rev. 61 (2004), Paul B. Lewis

UIC Law Review

No abstract provided.


Treatment Of Real Property Liens In Bankruptcy Cases, 38 J. Marshall L. Rev. 171 (2004), Gerald F. Munitz Jan 2004

Treatment Of Real Property Liens In Bankruptcy Cases, 38 J. Marshall L. Rev. 171 (2004), Gerald F. Munitz

UIC Law Review

No abstract provided.


The Innovative German Approach To Consumer Debt Relief: Revolutionary Changes In German Law, And Surprising Lessons For The United States, Jason J. Kilborn Jan 2004

The Innovative German Approach To Consumer Debt Relief: Revolutionary Changes In German Law, And Surprising Lessons For The United States, Jason J. Kilborn

Northwestern Journal of International Law & Business

This Article seeks to achieve two goals as it describes the consumer provisions of the new German Insolvency Act. First, it reveals critical distinctions between the theory of consumer insolvency, as described in German law and legal literature, and the reality of consumer insolvency in practice, as it has developed in the four-and-a-half years since the law went into effect. From both theoretical and practical perspectives, the German experience both supports and challenges many of the notions underlying consumer bankruptcy reform debates in the United States. As it turns out, the German and U.S. consumer debt relief systems produce largely …


Rethinking The Jurisdiction Of Bankruptcy Courts Over Post-Confirmation Federal Tax Liabilities: Towards A New Jurisprudence Of 11 U.S.C. § 505, Shu-Yi Oei Jan 2004

Rethinking The Jurisdiction Of Bankruptcy Courts Over Post-Confirmation Federal Tax Liabilities: Towards A New Jurisprudence Of 11 U.S.C. § 505, Shu-Yi Oei

Faculty Scholarship

No abstract provided.


Sovereign Debt Reform And The Best Interest Of Creditors, William W. Bratton, G. Mitu Gulati Jan 2004

Sovereign Debt Reform And The Best Interest Of Creditors, William W. Bratton, G. Mitu Gulati

Faculty Scholarship

In April 2002 the International Monetary Fund introduced a sovereign bankruptcy proposal only to be rebuffed by the United States Treasury. Where the IMF wanted a mandatory bankruptcy regime, the Treasury wanted to solve distress problems with contractual devices. Sovereign bondholders and sovereign issuers themselves flatly rejected both proposals, even though they were nominally the beneficiaries of both proponents. This Article addresses and explains this bondholder reaction. In so doing, it takes a highly skeptical view of the IMF's proposal even as it shows that the incentive structure surrounding sovereign lending renders untenable the Treasury's contractarian proposal. The Article's analysis …


Remembering Pine Gate, 38 J. Marshall L. Rev. 5 (2004), Douglas G. Baird Jan 2004

Remembering Pine Gate, 38 J. Marshall L. Rev. 5 (2004), Douglas G. Baird

UIC Law Review

No abstract provided.


Precision In Statutory Drafting: The Qualitech Quagmire And The Sad History Of § 365(H) Of The Bankruptcy Code, 38 J. Marshall L. Rev. 97 (2004), Robert M. Zinman Jan 2004

Precision In Statutory Drafting: The Qualitech Quagmire And The Sad History Of § 365(H) Of The Bankruptcy Code, 38 J. Marshall L. Rev. 97 (2004), Robert M. Zinman

UIC Law Review

No abstract provided.


2003 - A Year Of Discovery: Cybergenics And Plain Meaning In Bankruptcy Cases, Marjorie O. Rendell Jan 2004

2003 - A Year Of Discovery: Cybergenics And Plain Meaning In Bankruptcy Cases, Marjorie O. Rendell

Villanova Law Review (1956 - )

No abstract provided.


The Innovative German Approach To Consumer Debt Relief: Revolutionary Changes In German Law, And Surprising Lessons For The United States, 24 Nw. J. Int'l L. & Bus. 257 (2004), Jason Kilborn Jan 2004

The Innovative German Approach To Consumer Debt Relief: Revolutionary Changes In German Law, And Surprising Lessons For The United States, 24 Nw. J. Int'l L. & Bus. 257 (2004), Jason Kilborn

UIC Law Open Access Faculty Scholarship

No abstract provided.


Of Predatory Lending And The Democratization Of Credit: Preserving The Social Safety Net Of Informality In Small-Loan Transactions, Regina Austin Jan 2004

Of Predatory Lending And The Democratization Of Credit: Preserving The Social Safety Net Of Informality In Small-Loan Transactions, Regina Austin

American University Law Review

No abstract provided.


Creditors' Rights Risk: A Title Insurer's Perspective, 38 J. Marshall L. Rev. 223 (2004), Paul L. Hammann, John C. Murray Jan 2004

Creditors' Rights Risk: A Title Insurer's Perspective, 38 J. Marshall L. Rev. 223 (2004), Paul L. Hammann, John C. Murray

UIC Law Review

No abstract provided.


The Bankruptcy Code At Twenty-Five And The Next Generation Of Lawmaking, Melissa B. Jacoby Jan 2004

The Bankruptcy Code At Twenty-Five And The Next Generation Of Lawmaking, Melissa B. Jacoby

Faculty Publications

No abstract provided.


A Team Production Theory Of Bankruptcy Reorganization, Lynn M. Lopucki Jan 2004

A Team Production Theory Of Bankruptcy Reorganization, Lynn M. Lopucki

UF Law Faculty Publications

In the year before United Airlines filed for bankruptcy reorganization, the firm lost $3.2 billion. Fierce competition in the airline industry prevents United from stemming its losses solely through increases in revenues. Costs will have to be cut. The necessary expense reductions could come from reductions in employee pay and benefits, reductions in the amounts owing to creditors (which reduce interest expense), or both. Which should it be? United's situation is complicated by the fact that its employees own 55 percent of its stock and that their wage levels are protected by a collective bargaining agreement. But if we assume …


The Myth Of The Residual Owner: An Empirical Study, Lynn M. Lopucki Jan 2004

The Myth Of The Residual Owner: An Empirical Study, Lynn M. Lopucki

UF Law Faculty Publications

Most bankruptcy scholars who have considered the residual owner approach have come away with a healthy skepticism. But despite its theoretical difficulties, the residual owner approach persists. I attribute this persistence to an empirical assumption that usually remains implicit. In spite of the theoretical difficulties in identifying the single residual owners of bankrupt firms, the scholars who employ residual owner approaches believe that in reality, residual owners exist and can be easily identified inmost cases. Parties may bluster about the uncertainty of firm value and other parties may be compelled to compromise with them in order to avoid an expensive, …


Sovereign Debt Reform And The Best Interest Of Creditors, William W. Bratton, G. Mitu Gulati Jan 2004

Sovereign Debt Reform And The Best Interest Of Creditors, William W. Bratton, G. Mitu Gulati

Vanderbilt Law Review

This Article is about boilerplate language located at the back of contracts drafted by the world's largest law firms. The clauses in question are process provisions that regulate the amendment of sovereign debt contracts. These paragraphs have been drafted and redrafted by generations of corporate lawyers, yet they have changed little in their broad outlines in more than a century of use. Now they take center stage in the global financial arena, where they govern billions of dollars (and pounds, euros, and yen) of sovereign debt in default and billions more in imminent risk of default. Officials, academics, and even …


Recent Developments In Bankruptcy Law, Nancy B. Rapoport Jan 2004

Recent Developments In Bankruptcy Law, Nancy B. Rapoport

Scholarly Works

Discussion of 2004 cases regarding bankruptcy law.


Domestic And External Debt: The Doomed Quest For Equal Treatment, Anna Gelpern, Brad Setser Jan 2004

Domestic And External Debt: The Doomed Quest For Equal Treatment, Anna Gelpern, Brad Setser

Georgetown Law Faculty Publications and Other Works

Until recently, governments borrowed from domestic residents and foreign investors using very different instruments. Residents bought "domestic debt" - paper denominated in local currency and governed by domestic law. Foreign investors preferred "external debt", which offered foreign currency and foreign law. Because there was virtually no overlap between resident and nonresident holdings, it mattered little that lawyers and economists defined domestic and external debt differently: lawyers focused on features such as governing law and jurisdiction, economists on the holder's residence and currency of denomination. The legal and economic definitions of domestic and external debt were effectively bundled: "domestic debt" meant …


Pari Passu And A Distressed Sovereign's Rational Choices, William W. Bratton Jan 2004

Pari Passu And A Distressed Sovereign's Rational Choices, William W. Bratton

Georgetown Law Faculty Publications and Other Works

Part I describes the disruptive role the pari passu clause plays in sovereign debt compositions, stating the case favoring the narrow reading. Part II reconsiders the economic incentives in play at the time lenders close loans to sovereigns, stating a case for the broad reading. Part III works the competing readings through the legal framework of bond contract interpretation. The exercise shows that the matter comes down to a choice between an ex ante reading, conducted as of the time the contract is executed and delivered, and an ex post reading, conducted as of the later time of distress. The …