Bankruptcy Law Commons^™

Assessing Modern Bankruptcy Law: An Example Of Justice, Veryl Victoria Miles

Scholarly Articles

The task undertaken in this article will be to consider how well modern bankruptcy law measures up to concepts of justice that have evolved from Catholic social thought. The application of Catholic social justice in the assessment of whether a law is "just" or "unjust" can be viewed as a rational progression in evaluating the quality of justice achieved under a law.

Consumer Bankruptcy Practice In Kentucky: Chapter 7 Practice, Office Of Continuing Legal Education At The University Of Kentucky College Of Law, Scott A. Bachert, Michael L. Baker, C.R. Chip Bowles Jr, Thomas L. Canary Jr, Sandra D. Freeburger, Hal D. Friedman, Joseph J. Golden, James D. Lyon, Andrea Fried Neichter, Cathy S. Pike, Jan M. West, Tracey N. Wise

Continuing Legal Education Materials

A handbook for Kentucky practitioners covering Chapter 7 debtors, automatic stay and abandonment, dealing with secured creditors, discharging debts, bankrupt estates, and bankruptcy ethics.

Bankruptcy Law - Discharging Student Loans Under 11 U.S.C. 523(A)(8)(B): Find Some Dependents, Make A Few Payments And Disconnect The Cable Television (A Discussion Of Pennsylvania Higher Education Assistance Agency V. Faish (In Re Faish)), Jonathan L. Marsh

Villanova Law Review (1956 - )

No abstract provided.

A Proposal To Abolish The Office Of United States Trustee, Peter C. Alexander

University of Michigan Journal of Law Reform

In this Article, Professor Alexander reviews the creation and development of the Office of U.S. Trustee, an agency within the executive branch of the federal government, authorized to oversee the administration of all bankruptcy estates. Alexander asserts that the agency has expanded its scope beyond its original mission, becoming a huge bureaucracy that is widely criticized. By contrast, Alexander also discusses the Bankruptcy Administrator Program, a bankruptcy oversight system that exists within the federal districts in Alabama and North Carolina. He presents the positive and negative comments about that program and concludes that it is a more efficient system than …

The Duties And The Powers Of The Chapter 7 Trustee In Bankruptcy In The United States And In Belgium, Chantal J. De Nauw

LLM Theses and Essays

U.S. bankruptcy law offers a wide range of protections to a variety of debtors. The possibility of liquidation, reorganization, or rehabilitation is available to corporations, partnerships, individuals, and even some government institutions in the U.S. Conversely, the accessibility to bankruptcy in Belgium is restricted. In Belgium, only a salesman, as defined in the Belgian Code of Commerce, has access to bankruptcy protection, and this access is restricted in nature only to liquidation. This thesis analyzes the differences in the bankruptcy systems of the U.S. and Belgium, paying special attention to the role of the bankruptcy trustee in Chapter 7 bankruptcy …

Ladies In Red: Learning From America's First Female Bankrupts, Marie Stefanini Newman

Elisabeth Haub School of Law Faculty Publications

Several years ago, the Honorable Joyce Bihary, a bankruptcy judge in Atlanta, Georgia, asked me3 why our country's first bankruptcy law specifically referred to debtors using “he” or “she” rather than a gender-neutral noun (such as “bankrupts”) or the male possessive pronoun “he.” Implicitly, she was also asking whether there were any women debtors under our early bankruptcy laws. Although I had read the Bankruptcy Act of 1800 more than once, I did not recollect its use of these gender-inclusive pronouns. Nor did I know why the Act employed them. Despite having given considerable thought to contemporary women in debt, …

The Community Reinvestment Act: New Standards Provide New Hope, E. L. Baldinucci

Fordham Urban Law Journal

This Comment chronicles the Community Reinvestment Act from its adoption to its present status, including its revision under the Financial Institutions Reform Recovery and Enforcement Act of 1989 (FIRREA). It reviews the major criticisms of the CRA's supporters and detractors. It introduces the recent regulations issued by the regulatory agencies responsible for enforcing the CRA and the Congressional response to those regulations. It concludes that the CRA can be a more effective legislative response to the lack of banking services in poorer inner city communities if the recent agencies' regulations are allowed to take effect and if careful steps are …

The Death Of Liability, Lynn M. Lopucki

UF Law Faculty Publications

Based on systems/strategic analysis, this paper predicts the complete failure of legal liability system. Liability is the system by which injured persons recover money damages from those who injure them. The system operates through the entry and enforcement of judgments by the courts. The paper argues that the system is vulnerable to defeat by a variety of judgment proofing techniques which can be categorized as secured debt strategies, ownership strategies, exemption strategies, and foreign haven strategies. Computerization has recently brought about dramatic reductions in the costs of pursuing these strategies, making them cost effective for more potential defendants. As use …

Discourse And Discharge: Linguistic Analysis And Abuse Of The "Exemption By Declaration" Process In Bankruptcy, Kenneth D. Ferguson

Faculty Works

In Taylor v. Freeland & Kronz, the United States Supreme Court interpreted section 522(1) of the Bankruptcy Code according to its "plain meaning" and permitted a debtor to exempt $110,000 that was ineligible for exemption under substantive exemption law. The decision of the Court was premised on the fact that there was no timely objection to the claim of exemption. Although conceding that its decision might tempt debtors to claim exemptions in property ineligible for exemption on the chance that the trustee and creditors would fail to object in time, the Court cataloged a number of other remedies, including denial …

Avoiding Judicial Wrath: The Ten Commandments For Bankruptcy Practitioners, Nancy B. Rapoport

Scholarly Works

This article describes the top ten duties for bankruptcy lawyers. 1. Know the purpose(s) of the Bankruptcy Code. 2. Know the facts and the law. 3. Spend time crafting your arguments. 4. Don't lie (about conflicts of interest or about controlling law). 5. Be respectful (of other lawyers, of the system, and of other participants in the system). 6. Don't indulge your client's sleazy instincts. 7. Don't escalate a conflict unnecessarily. 8. Honor your calendar. 9. Keep your client informed. 10. Don't whine.

Chapter 11 Case Management And Delay Reduction: An Empirical Study, Samuel Bufford

Faculty Scholarship

Chapter 11 bankruptcy cases will drag on interminably if judges let them. The recent nine-month O.J. Simpson trial was short compared to the careers of some chapter 11 bankruptcy cases. The typical duration of chapter 11 cases can be reduced remarkably, however, through moderate judicial case management.

The data in this study show that relatively modest judicial case management can squeeze a substantial amount of delay out of chapter 11 cases within the context of the present bankruptcy law. The case management program in this study, applied to 81.2% of the chapter 11 case load, shortened by 24.1% the time …

Bankruptcy In The Seventh Circuit: 1995, Douglass Boshkoff

Articles by Maurer Faculty

No abstract provided.

Contractual Bankruptcy Waivers: Reconciling Theory, Practice, And Law, Marshall E. Tracht

Articles & Chapters

No abstract provided.

Recovery Of Creditors' Costs From The Bankruptcy Estate: Reasonable, Necessary, And ... Uncertain?, Judy Simmons Henry

University of Arkansas at Little Rock Law Review

No abstract provided.

Bankruptcy Law In European Countries Emerging From Communism: The Special Legal And Economic Challenges, Samuel Bufford

Faculty Scholarship

Bankruptcy law is developing rapidly in the countries of Central and Eastern Europe (CEE) that have recently escaped the domination of the Union of Soviet Socialist Republics (USSR). The communist governments fell in those countries that were separate from the USSR in 1989, and those countries that were a part of the USSR gained their independence and acquired new non-communist governments in 1989 (the Baltic states) and 1991 (Ukraine, Belarus, Moldova, and Russia). While many other areas of law that are basic to the development of a market economy need substantial development or revision, bankruptcy law is leading the way, …

The Effect Of Bankruptcy On Executory Contracts In General And On Licensing Agreements Of Intellectual Property In Particular, Alexandra Baumgartner

LLM Theses and Essays

11 U.S.C. § 365(a) provides that a bankruptcy trustee, subject to the court’s approval, may assume or reject any executory contract. What section § 365 does not provide is a clear definition for the term “executory contract.” This thesis covers the different definitions of executory contracts proposed by courts and scholars and common grounds for assumption and rejection by the trustee. The author in particular analyzes how § 365 interacts with licensing agreements. If a licensor files for bankruptcy and the license agreement is rejected, the licensee’s rights to use the licensed intellectual property are in jeopardy. This situation is …

Harmonizing The Policy Of The Bankruptcy Code And Article 9, Edwin E. Smith, Elizabeth Warren, James J. White

Other Publications

In a true sense bankruptcy law--at least as represented by the 1978 Code--is in conflict, not in harmony, with Article 9. To a considerable degree (perhaps more than they realize) debtors and unsecured creditors got things they wanted from Congress by the adoption of the Bankruptcy Reform Act of 1978. It is doubtful that that Act could have been passed in any Congress before or since. In many ways, the rights of the debtor and of the unsecured creditors have been cut back since the adoption of the Bankruptcy Reform Act.

Rights Of Subrogation In Letters Of Credit Transactions, James J. White

Articles

The past twenty years have seen more than a dozen cases, in which parties to letter of credit transactions have sought subrogation to the rights of the person they have paid or to the rights of the persons on behalf of whom, they have acted.' The most obvious case arises when the issuer of a standby letter of credit pays a beneficiary on a debt that is owed to the beneficiary by a bankrupt applicant. Having failed to take 'collateral from the applicant, the issuer seeks to be subrogated to the security interest of the beneficiary. Failing subrogation, the issuer …

The Economic And Political Logic Of Mass Privatization In Czechoslovakia And Poland, George Bogdan

Cardozo Journal of International and Comparative Law

The article examines the mass privatization programs implemented in Czechoslovakia (later the Czech Republic) and Poland during their transitions from communism to democracy and capitalism. It compares the design, implementation, and outcomes of these programs, highlighting the economic and political factors that shaped their approaches. The analysis focuses on how the unique historical, economic, and political contexts of each country influenced their privatization strategies and the effectiveness of these strategies in achieving marketization and institutional reform.

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 …

Confirmation And Claims Trading, Frederick Tung

Faculty Scholarship

The buying and selling of claims against companies in financial distress is not a new phenomenon. In times of financial distress, liquidity has always commanded a profit. However, the late 1980s and early 1990s saw the first significant trading of claims under Chapter 11 of the Bankruptcy Code, our relatively new and novel system of corporate reorganization. Traditionally scorned by the financial establishment, distress investment came into vogue with the "megabankruptcies" that followed in the wake of the leveraged buyout boom of the 1980s. With its prospects for huge profits, claims trading in Chapter 11 became a Wall Street staple. …

Bifurcation Of Undersecured Claims In Bankruptcy, David G. Carlson

Articles

The article examines the legal implications of the Supreme Court's decision in Dewsnup v. Timm on the bifurcation of undersecured claims in bankruptcy law. It critiques the ruling for creating confusion and potential inequities, arguing that it may diverge from the intent of the Bankruptcy Code. The analysis highlights the need for clearer guidelines to ensure consistent and fair treatment of secured and unsecured claims across different bankruptcy chapters.

Bankruptcy 1995: Hot Topics And News You Can Use!, Oregon Law Institute, Ann K. Chapman, John D. Albert, S. Ward Greene, Elizabeth L. Perris, Sanford R. Landress

Oregon Law Institute, 1995

Course Materials from the December 1, 1995 Program in Portland

Bankruptcy Redistributive Policies And The Limits Of The Judicial Process, Christopher W. Frost

Law Faculty Scholarly Articles

Business failure negatively affects a broad range of interests, yet the bankruptcy process directly protects only a small segment of interest-holders: the creditors. Some commentators argue for expansion of that protection to encompass redistributive norms and provide for the interests of non-investors in the failed business. The Bankruptcy Reform Act of 1994’s establishment of a national commission to study the bankruptcy process and its broader policy implications brings with it the opportunity to consider that redistributive argument and perhaps change the process to include the interests of non-investors under the reorganization umbrella. This Article responds to those who would have …

The Fdic's Fraudulent Conveyance Power Under The Crime Control Act Of 1990: Bank Insolvency Law And The Politics Of The Iron Triangle, Edward J. Janger

Faculty Scholarship

No abstract provided.

Bankruptcy, W. Homer Drake Jr., James W. Dilz

Mercer Law Review

During 1994 the United States Court of Appeals for the Eleventh Circuit decided thirteen cases under the Bankruptcy Code ("Code")' in the areas of discharge and dischargeability, preferences, fraudulent transfers, exemptions, lien avoidance, executory contracts, administrative expenses, postconfirmation default, attorney fees, substantive consolidation, and bankruptcy fraud. This Article is a survey of the bankruptcy decisions by the Eleventh Circuit in 1994.

Rents In Bankruptcy, David G. Carlson

Articles

The article examines the treatment of rent receivables in bankruptcy proceedings, focusing on the tension between secured creditors' rights and the trustee's powers. It argues that rent receivables should be treated as security interests rather than absolute transfers to prevent unfair forfeitures and ensure debtors can use these funds for reorganization under adequate protection.

Seeing The Forest And The Trees: The Proper Role Of The Bankruptcy Attorney, Nancy B. Rapoport

Indiana Law Journal

No abstract provided.

Bankruptcy—Preferential Transfers—Ordinary Course Of Business Exception Requires Objective Proof Of Industry Standards. Jones V. United Sav. & Loan Ass'n (In Re U.S.A. Inns, Inc.), 9 F.3d 680 (8th Cir. 1993)., Phyllis A. Mckenzie

University of Arkansas at Little Rock Law Review

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

Oregon Law Institute, 1995

Course Materials from the May 19, 1995 Program in Portland