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Full-Text Articles in Bankruptcy Law

Bankruptcy, James D. Walker Jr., Amber Nickell Jul 2008

Bankruptcy, James D. Walker Jr., Amber Nickell

Mercer Law Review

In 2007 the world of bankruptcy law lacked much of the excitement seen in 2005 and 2006. During the previous two years a variety of novel issues and intra-circuit conflicts arose as courts began interpreting the 2005 amendments to the Bankruptcy Code. The pace settled down in 2007 as courts began work that consisted more of refinement than innovation. They tackled the scope of sovereign immunity, the automatic stay, undue hardship for student loan discharge, and the hanging paragraph in § 1325(a). These and other recent developments in Eleventh Circuit bankruptcy law are addressed in this Article.


Bankruptcy Policy: A Review And Critique Of Bankruptcy Statutes And Practices In Fifty Countries Worldwide, Ziad Raymond Azar Jul 2008

Bankruptcy Policy: A Review And Critique Of Bankruptcy Statutes And Practices In Fifty Countries Worldwide, Ziad Raymond Azar

Cardozo Journal of International and Comparative Law

Bankruptcy law plays a crucial role in a capitalist economy by facilitating resource reallocation through creative destruction, with its effectiveness hinging on balancing creditor protection and debtor rehabilitation. The article examines bankruptcy statutes and practices across 50 countries, emphasizing the need for efficient, practical reforms that maximize estate value while addressing global diversity in insolvency frameworks. It advocates for a comprehensive approach to bankruptcy law, ensuring transparency, fairness, and alignment with economic goals.


The Westernization Of Chinese Bankruptcy: An Examination Of China's New Corporate Bankruptcy Law Through The Lens Of The Uncitral Legislative Guide To Insolvency Law, Steven J. Arsenault Jun 2008

The Westernization Of Chinese Bankruptcy: An Examination Of China's New Corporate Bankruptcy Law Through The Lens Of The Uncitral Legislative Guide To Insolvency Law, Steven J. Arsenault

Penn State International Law Review (1982 - 2011)

No abstract provided.


Categorizing Categories: Property Of The Estate And Fraudulent Transfers In Bankruptcy, Michael R. Cedillos May 2008

Categorizing Categories: Property Of The Estate And Fraudulent Transfers In Bankruptcy, Michael R. Cedillos

Michigan Law Review

11 U.S.C. § 541 defines "property of the estate" in bankruptcy, but courts have not interpreted that section uniformly. The Fifth Circuit has read the term broadly to include both interests in property that the trustee recovers under § 541(a)(3) and legal or equitable interests under § 541(a)(1) that have purportedly been fraudulently transferred but which the trustee has not yet recovered. The Second Circuit, however, has taken a more restrained approach, holding that fraudulently transferred property that the trustee has not yet recovered does not constitute property of the estate. This Note argues that courts should adopt the Second …


Florida's Beefed-Up Assignment For The Benefit Of Creditors As An Alternative To Bankruptcy, Jeffrey Davis Apr 2008

Florida's Beefed-Up Assignment For The Benefit Of Creditors As An Alternative To Bankruptcy, Jeffrey Davis

UF Law Faculty Publications

Two new corporate clients have been referred to you. The owners of both corporations have consulted lawyers about their struggling businesses and now seek second opinions. The first was advised by its attorney to file a Chapter 7 bankruptcy petition, the second was advised to file a Chapter 11 petition. You think both should consider an assignment for the benefit of creditors. Why? Stated simply, an assignment for the benefit of creditors, or an ABC, is normally much simpler and almost always less expensive than a comparable bankruptcy proceeding.' The substantial savings in expense results in larger payouts to both …


Report To The American Bankruptcy Institute: Prevalence Of Substantive Consolidation In Large Public Company Bankruptcies From 2000 To 2005, William H. Widen Apr 2008

Report To The American Bankruptcy Institute: Prevalence Of Substantive Consolidation In Large Public Company Bankruptcies From 2000 To 2005, William H. Widen

Articles

No abstract provided.


2007 Patent Law Decisions Of The Federal Circuit, Dean L. Fanelli, Victor N. Balancia, Robert J. Smyth, Carl P. Bretscher, Arthur M. Antonelli, Mark J. Sullivan, Kent E. Basson Apr 2008

2007 Patent Law Decisions Of The Federal Circuit, Dean L. Fanelli, Victor N. Balancia, Robert J. Smyth, Carl P. Bretscher, Arthur M. Antonelli, Mark J. Sullivan, Kent E. Basson

American University Law Review

No abstract provided.


Scary Stories And The Limited Liability Polluter In Chapter 11 Polluter In Chapter 11, Anne M. Lawton, Lynda J. Oswald Mar 2008

Scary Stories And The Limited Liability Polluter In Chapter 11 Polluter In Chapter 11, Anne M. Lawton, Lynda J. Oswald

Washington and Lee Law Review

Legal commentators, policy-makers, and the media argue that the current structures of environmental, bankruptcy, and corporate law permit firms to strategically use bankruptcy to inappropriately displace hundreds of millions of dollars of environmental liability onto taxpayers. However, the proposed solution to this supposed problem-reforming bankruptcy, environmental, and/or corporate law-is draconian, and may cause dramatic and unintended consequences. Moreover, these demands for reform are occurring in a complete absence of data about whether and to what extent inappropriate strategic use of bankruptcy in this manner actually occurs. We conducted an empirical analysis of Chapter 11 bankruptcies filed in 2004 and closed …


Securitization And Its Discontents: The Dynamics Of Financial Product Development, Kenneth C. Kettering Mar 2008

Securitization And Its Discontents: The Dynamics Of Financial Product Development, Kenneth C. Kettering

Cardozo Law Review

This paper takes as its point of departure the financing technique referred to as "securitization," a close cousin of secured lending that has grown to enormous size since its origin more than two decades ago. The paper pursues two themes. One is a critique of the legal foundations of securitization, which includes a perspective on aspects of fraudulent transfer law that are well established historically but have been neglected in recent decades. The other is exploration of the implications of this product growing so vast despite its dubious legal foundations. In that regard, the paper explores two points of legal …


Bankruptcy Vérité, Lynn M. Lopucki, Joseph W. Doherty Feb 2008

Bankruptcy Vérité, Lynn M. Lopucki, Joseph W. Doherty

Michigan Law Review

In the empirical study we report in Bankruptcy Fire Sales, we compared the recoveries from the going-concern bankruptcy sales of twenty-five large, public companies with the recoveries from the bankruptcy reorganizations of thirty large, public companies. We found that, controlling for the asset size of the company and its presale or pre-reorganization earnings ("EBITDA"), reorganization recoveries were more than double sale recovenes. We are honored that Professor James J. White has chosen to comment on our study. White is an eloquent defender of the status quo, pulls no punches, and always has something interesting to say. Bankruptcy Noir is …


Randomness And Complexity In Social Explanation: Evidence From Finance And Bankruptcy Law, Bernard Trujillo Jan 2008

Randomness And Complexity In Social Explanation: Evidence From Finance And Bankruptcy Law, Bernard Trujillo

Law Faculty Publications

No abstract provided.


Selling The Payments: Predatory Lending Goes Primetime, 41 J. Marshall L. Rev. 587 (2008), Dustin Fisher Jan 2008

Selling The Payments: Predatory Lending Goes Primetime, 41 J. Marshall L. Rev. 587 (2008), Dustin Fisher

UIC Law Review

No abstract provided.


Rule 2019: The Debtor's New Weapon, 42 J. Marshall L. Rev. 165 (2008), Michael Demarino Jan 2008

Rule 2019: The Debtor's New Weapon, 42 J. Marshall L. Rev. 165 (2008), Michael Demarino

UIC Law Review

No abstract provided.


A Study Of Consumers' Post Discharge Finances: Struggle, Stasis, Or Fresh Start?, Lois R. Lupica, Jay L. Zagorsky Ph.D. Jan 2008

A Study Of Consumers' Post Discharge Finances: Struggle, Stasis, Or Fresh Start?, Lois R. Lupica, Jay L. Zagorsky Ph.D.

Faculty Publications

The postwar U.S. has experienced an extremely sharp rise in consumer bankruptcies. What happens to these consumers financially after filing for bankruptcy? Do filers catch up with their non-filing peers, stay a constant distance behind or fall further behind over time? This question is investigated empirically using a new set of financial and bankruptcy data obtained from a large national random survey of bankruptcy filers and non-filers. Along some simple financial dimensions, such as car ownership, bankruptcy filers are not disadvantaged compared to non-filers. Along more complex indicators, such as total income and net worth, filers catch up over time …


An Empirical Economic Analysis Of The 2005 Bankruptcy Reforms, 24 Emory Bankr. Dev. J. 327 (2008), Thomas Evans, Paul B. Lewis Jan 2008

An Empirical Economic Analysis Of The 2005 Bankruptcy Reforms, 24 Emory Bankr. Dev. J. 327 (2008), Thomas Evans, Paul B. Lewis

UIC Law Open Access Faculty Scholarship

No abstract provided.


Comparative Cause And Effect: Consumer Insolvency And The Eroding Social Safety Net, 14 Colum. J. Eur. L. 563 (2008), Jason Kilborn Jan 2008

Comparative Cause And Effect: Consumer Insolvency And The Eroding Social Safety Net, 14 Colum. J. Eur. L. 563 (2008), Jason Kilborn

UIC Law Open Access Faculty Scholarship

This paper explores the connection between social welfare reform and the adoption of consumer debt relief law in Europe. Health care expenses and unemployment are significant contributors to overindebtedness in Europe, and outside the primary sources, one finds suggestions to the effect that the unraveling social safety net was a major contributing factor in the adoption of consumer debt relief laws in Europe in the 1990s. This paper critically analyzes this notion by tracking the recent scaling back of social assistance programs in Sweden, Germany, and France, and comparing that movement with the adoption of consumer insolvency regimes in those …


Checking Up With Barf:Evaluating The Effectiveness, Challenges And Shortcomings Of Thebankruptcy Abuse Prevention And Consumer Protection Act Of 2005., Robert Slimak Jan 2008

Checking Up With Barf:Evaluating The Effectiveness, Challenges And Shortcomings Of Thebankruptcy Abuse Prevention And Consumer Protection Act Of 2005., Robert Slimak

Richmond Public Interest Law Review

Following this introduction, Part II evaluates the effectiveness of the BAPCPA by measuring bankruptcy filing rates pre- and post-enactment and examines the losses disclosed by some of the largest credit lenders who lobbied for the bill. Part III discusses the legal challenges to BAPCPA that have already appeared in federal court. Part IV explains some of the more heavily-criticized shortcomings of the BAPCPA. This comment concludes with a brief discussion of the root causes of bankruptcy that remain unaffected by the passage of the BAPCPA.


Who Tolls The Bells For Firms? Tales From Transition Economies, Katharina Pistor Jan 2008

Who Tolls The Bells For Firms? Tales From Transition Economies, Katharina Pistor

Faculty Scholarship

Bankruptcy law is regarded as an important mechanism for protecting creditor rights. Much of the current debate about bankruptcy law focuses exclusively on private creditors, ignoring the role of tax authorities as creditor in insolvent firms. Based on data from several transition economies, this essay documents the important, if not dominant, role tax authorities play as initiator of bankruptcy in these countries. While improved tax enforcement is crucial for tackling the problem of tax arrears and hardening the "soft budget-constraint" in former socialist countries, this essay suggests that the presence of the tax authorities as creditor may also affect the …


Identifying And Keeping The Genie In The Bottle: The Practical And Legal Realities Of Trade Secrets In Bankruptcy Proceedings, Sharon Sandeen Jan 2008

Identifying And Keeping The Genie In The Bottle: The Practical And Legal Realities Of Trade Secrets In Bankruptcy Proceedings, Sharon Sandeen

Faculty Scholarship

Anyone who has been paid attention to developments in the world of business over the past quarter century can attest to the fact that intellectual property (IP) is a hot commodity. Indeed, in contrast to the companies that emerged out of the Industrial Revolution, the companies that have spawned as part of the so-called “Information Age” attribute much of their value and future prospects to intangible, rather than tangible, assets. Unfortunately, while bankruptcy courts have generally recognized the need to distinguish between tangible and intangible assets, particularly when determining whether a claim is secured or unsecured, they often fail to …


Algorithmic Entities, Lynn M. Lopucki Jan 2008

Algorithmic Entities, Lynn M. Lopucki

UF Law Faculty Publications

In a 2014 article, Professor Shawn Bayern demonstrated that anyone can confer legal personhood on an autonomous computer algorithm by putting it in control of a limited liability company. Bayern’s demonstration coincided with the development of “autonomous” online businesses that operate independently of their human owners—accepting payments in online currencies and contracting with human agents to perform the off-line aspects of their businesses. About the same time, leading technologists Elon Musk, Bill Gates, and Stephen Hawking said that they regard human-level artificial intelligence as an existential threat to the human race. This Article argues that algorithmic entities—legal entities that have …


Bankruptcy Vérité, Lynn M. Lopucki, Joseph W. Doherty Jan 2008

Bankruptcy Vérité, Lynn M. Lopucki, Joseph W. Doherty

UF Law Faculty Publications

In Bankruptcy Fire Sales, 106 Michigan Law Review 1 (2007), we compared the recoveries from the going-concern bankruptcy sales of 25 large, public companies with the recoveries from the bankruptcy reorganizations of 30 large, public companies in the same period. We found that, controlling for the asset size of the company and its pre-sale or pre-reorganization earnings (EBITDA), reorganization recoveries were more than double sale recoveries. In Bankruptcy Noir, a reply forthcoming in the Michigan Law Review, Professor James J. White values the same set of companies differently to reach the finding that the sale recoveries are not statistically significantly …


Book Review: Comparative Consumer Bankruptcy, Stephanie Ben-Ishai Jan 2008

Book Review: Comparative Consumer Bankruptcy, Stephanie Ben-Ishai

Articles & Book Chapters

This is a review of Comparative Consumer Bankruptcy by Jason J. Kilborn. Durham, NC: Carolina Academic Press, 2007.


Straddle Obligations Under Prepetition Contracts – Prepetition Claims, Postpetition Claims Or Administrative Expenses, Laura B. Bartell Jan 2008

Straddle Obligations Under Prepetition Contracts – Prepetition Claims, Postpetition Claims Or Administrative Expenses, Laura B. Bartell

Law Faculty Research Publications

No abstract provided.


From Debtors’ Prisons To Prisoner Debtors: Credit Counseling For The Incarcerated, Laura B. Bartell Jan 2008

From Debtors’ Prisons To Prisoner Debtors: Credit Counseling For The Incarcerated, Laura B. Bartell

Law Faculty Research Publications

No abstract provided.


Staying The Serial Filer – Interpreting The New Exploding Stay Provisions Of § 362(C)(3) Of The Bankruptcy Code, Laura B. Bartell Jan 2008

Staying The Serial Filer – Interpreting The New Exploding Stay Provisions Of § 362(C)(3) Of The Bankruptcy Code, Laura B. Bartell

Law Faculty Research Publications

When a petition is filed commencing a case under the Bankruptcy Code, the petition alone stays certain acts against the debtor, the debtor's property, or property of the bankruptcy estate. The Code has always provided that, absent favorable judicial action on an application to lift the stay, the automatic stay remains in effect with respect to an act against property of the estate until the property is no longer property of the estate, and with respect to any other act until the case is closed or dismissed or a discharge is granted or denied. But in the amendments to the …


The Corporate Governance And Public Policy Implications Of Activist Distressed Debt Investing, Michelle M. Harner Jan 2008

The Corporate Governance And Public Policy Implications Of Activist Distressed Debt Investing, Michelle M. Harner

Faculty Scholarship

Activist institutional investors traditionally have invested in a company's equity to try to influence change at the company. Some of these investors, however, are now purchasing a company's debt for this same purpose. They may seek to change a company's management and board personnel, operational strategies, asset holdings or capital structure. The chapter 11 bankruptcy cases of Allied Holdings, Inc. and its affiliates exemplify the strategies of activist distressed debt investors. In the Allied cases, Yucaipa Companies, a distressed debt investor, purchased approximately 66% of Allied's outstanding general unsecured bond debt. Yucaipa used this debt position to exert significant influence …


Trends In Distressed Debt Investing: An Empirical Study Of Investors' Objectives, Michelle M. Harner Jan 2008

Trends In Distressed Debt Investing: An Empirical Study Of Investors' Objectives, Michelle M. Harner

Faculty Scholarship

Increased creditor control in chapter 11 cases has generated considerable debate over the past several years. Proponents of creditor control argue that, among other things, it promotes efficiency in corporate reorganizations. Critics assert that it destroys corporate value and frequently forces otherwise viable entities to liquidate. The increasing involvement of professional distressed debt investors in chapter 11 cases has intensified this debate. In this article, I present and analyze empirical data regarding the investment practices and strategies of distressed debt investors. Based on this data and actual case reports, I reach two primary conclusions. First, although relatively few in number, …


(Almost) Everything We Learned About Pleasing Bankruptcy Judges, We Learned In Kindergarten, Nancy B. Rapoport, Roland Bernier Iii Jan 2008

(Almost) Everything We Learned About Pleasing Bankruptcy Judges, We Learned In Kindergarten, Nancy B. Rapoport, Roland Bernier Iii

Scholarly Works

In this essay, we demonstrate that most ethics violations (at least the ones that irritate bankruptcy judges) are also violations of simple rules of behavior that people should have learned in kindergarten.


Developments In The Laws Affecting Electronic Payments And Stored-Value Products: A Year Of Stored-Value Bankruptcies, Significant Legislative Proposals, And Federal Enforcement Actions, Sarah Jane Hughes, Stephen T. Middlebrook, Patricia J. Allouise Jan 2008

Developments In The Laws Affecting Electronic Payments And Stored-Value Products: A Year Of Stored-Value Bankruptcies, Significant Legislative Proposals, And Federal Enforcement Actions, Sarah Jane Hughes, Stephen T. Middlebrook, Patricia J. Allouise

Articles by Maurer Faculty

No abstract provided.


The Cra: A Welcome Anomaly In The Foreclosure Crisis, Warren W. Traiger Jan 2008

The Cra: A Welcome Anomaly In The Foreclosure Crisis, Warren W. Traiger

NYLS Law Review

No abstract provided.