Bankruptcy Law Commons^™

Interpreting The Nondischargeability Of Drunk Driving Debts Under Section 523(A)(9) Of The Bankruptcy Code: A Case Of Judicial Legislation, Veryl Victoria Miles

Scholarly Articles

This article presents a critical analysis of section 523(a)(9) and explores the appropriate limits of statutory construction in the judicial interpretations of the provision. Part I of the article includes a discussion of the history of section 523(a)(9) and why it was necessary for Congress to enact a special anti-drunk driving provision to assure that bankrupts could not escape financial liability for drunk driving debts under the Code. This section also will address how the addition of section 523(a)(9) has expanded and affected the options for nondischargeability determinations under the Code. Part II focuses on the (1) "inartfully drafted" language …

Estimating Contingent Liabilities To Determine Insolvency In Bankruptcy Proceedings: In Re Xonics Photochemical, Inc., Kathryn Ogden Balmforth

BYU Law Review

No abstract provided.

What Can Be Done About Stock Market Volatility, Tamar Frankel

Faculty Scholarship

Volatility is as old as the financial markets. The bull market of 1986 and the crash that followed in 1987 were but the latest of periodic market gyrations that started with the South Sea Bubble and the Lombard Street run on commercial paper and have continued ever since.' Volatility in the financial markets would not be very important if market activity simply mirrored economic activity. Volatility would be much less important if the markets moved independently of the economy. But if we believe, as I do, that the markets and the economy are interdependent, and that their volatility is generally …

Re Sefel Geophysical Ltd.: A Canadian Approach To Some Specific Problems In The Adjudication Of International Insolvencies, Sarah K. Harding

Dalhousie Law Journal

The collapse of a corporation which carries on business and trade on an international scale, usually spawns an array of legal disputes and presents some unique problems in the conflict of laws.1 Unlike a private commercial contractual dispute in which the competing interests are primarily, although rarely solely, defined by the parties themselves, bankruptcy law is infused with an element of public policy. The fact that bankruptcy legislation sets out a scheme of priorities and explicitly provides the basis upon which a court may assume jurisdiciton to declare a bankruptcy and appoint a trustee, is in itself an indication of …

The Collapsed Leveraged Buyout And The Trustee In Bankruptcy, James F. Queenan Jr.

Cardozo Law Review

Leveraged buyouts bring about concentration of a corporation's ownership in the hands of a few stockholders. This permits the stockholders to control the corporation with the incentive to operate it efficiently in order to realize the entire profit for themselves. Such a joinder of control and ownership, however, is produced at great cost to the corporation, which provides most of the funds used to purchase the stock from the selling shareholders. There is, therefore, the danger of prejudice to a non-stockholder constituency-the corporation's creditors, employees, customers, and the community in which it is located. It is the thesis of this …

Equitable Distribution Requires Equitable Valuation: A Proposal For Amending New York's Equitable Distribution Law, Jacqueline B. Stuart

Cardozo Law Review

No abstract provided.

Software Distribution Agreements And Bankruptcy: The Licensor's Perspective, J. Dianne Brinson

Washington Law Review

This Article addresses a special problem within the software-industry—licensee bankruptcy and the need to protect the rights of licensors in the software. Although federal law now protects the rights of a software licensee in the technology when a licensor undergoes bankruptcy, little guidance exists as to the effects of licensee bankruptcy upon the software licensor. This Article thoroughly reviews the relevant bankruptcy and copyright law as they relate to the computer software area, and then discusses why a licensor should consider avoiding the possibility of a software license being treated as an executory contract. The author concludes by offering practical …

Why The Bankruptcy Course Ought To Be Mandatory, Morris G. Shanker

Journal of Legal Education

No abstract provided.

The Effect Of Recent Federal Cases On Suspension Of The Washington General Assembly Law By Operation Of The Federal Bankruptcy Act, Warren Shattuck

Washington Law Review

Since Armour & Co. v. Becker the Washington court has made clear its position on suspension of our general assignment law by the Bankruptcy Act. In Tacoma Grocery Co. v. Doersch on authority of the Armour case and Interational Shoe Co. v. Pinkus a non-assenting creditor was permitted to garnishee the assigned property in the hands of the assignee. A few months later in Anderson v. Zelensky a creditor who had not taken under a general assignment recovered judgment on his claim despite the debtor's discharge pursuant to Rem. Com. Stat. sec. 1100. The only conclusion which can be drawn …

Administrative Law—Rescuing Creditor Claims From The "Black Hole." Coit Independence Joint Venture V. Federal Savings And Loan Insurance Corporation, J. Michael Pickens

University of Arkansas at Little Rock Law Review

No abstract provided.

Rethinking Absolute Priority After Ahlers, John D. Ayer

Michigan Law Review

There was no evident reason why the Supreme Court granted certiorari in Norwest Bank Worthington v. Ahlers. It can be conceded that the issue was important: in the midst of an agricultural depression, a farmer was trying to hang onto his farm without paying the full amount of his bank debt. The farmer argued that he ought to be able to do so because he was offering to contribute "new value" beyond what he was obliged to contribute - specifically, his efforts as a farmer.

For Ahlers is a case with a past, as well as a future. Thus, in …

Commentary On “On The Nature Of Bankruptcy”: Bankruptcy And Bargaining, Theodore Eisenberg

Cornell Law Faculty Publications

At a conference on bargaining, it should not be surprising that there is more than one perspective on the relationship between bankruptcy and bargaining. Dean Jackson and Professor Scott's article emphasizes a hypothetical bargain to be struck by idealized participants in a firm. It explores the relationship between bankruptcy and that bargain. By imagining what that bargain would look like, Jackson and Scott construct new justifications for bankruptcy law's distributional rules. Such a theory, however, is subject to reservations about the depth of insight that can be gained from examination of purely theoretical bargains. Stripped of real-world characteristics, hypothetical bargains …

Bankruptcy As An Alternative To The Statute Of Limitations For Relief From Overdue Income Taxes, Harold E. Wolfe Jr.

Akron Tax Journal

This article analyzes the situations in which a bankruptcy filing could be used as an alternative to the expiration of the statute of limitations on collections and sets forth various considerations that should be reviewed by the practitioner prior to a bankruptcy filing. Practitioners are cautioned that there are many collateral consequences resulting from a taxpayer's bankruptcy petition filing and each case must be analyzed carefully in light of the interplay of the Bankruptcy Code, the Internal Revenue Code and the sparse case law available in this area.

Software Licenses As Personal Service Contracts, 9 Computer L.J. 491 (1989), Terrence W. Thompson

UIC John Marshall Journal of Information Technology & Privacy Law

No abstract provided.

Casenotes: Federal Bankruptcy Law — A Personal Guarantee From A Corporate Insider May Mean That Payments Received By The Lender Within One Year Prior To The Debtor's Filing For Insolvency Are Subject To An Extended Preference Period And Recovery From The Lender. Levit V. Ingersoll Rand Financial Corp., 874 F.2d 1186 (7th Cir. 1989), Chellis E. Neal

University of Baltimore Law Review

No abstract provided.

State Choice Of Law Rules In Bankruptcy, John T. Cross

Oklahoma Law Review

No abstract provided.

Sharing The Risks Of Bankruptcy: Timbers, Ahlers, And Beyond, Robert E. Scott

Faculty Scholarship

Bankruptcy policy appears to be in disarray. Recent decisions by the United States Supreme Court have only served to reinforce the uncertainties that mar the bankruptcy process. In United Savings Association of Texas v. Timbers of Inwood Forest Associates, Ltd., the Court held that an undersecured creditor was not entitled to interest on its collateral as compensation for the opportunity costs of delay caused by the bankruptcy process. Timbers thus supports the argument that secured creditors should be forced to share the burdens of bankruptcy with other claimants. Conversely, in Norwest Bank Worthington v. Ahlers, the Court held …

Foreword, Frank R. Kennedy

Indiana Law Journal

Symposium: As We Forgive Our Debtors

Has The Time Come To Repeal Chapter 13?, William C. Whitford

Indiana Law Journal

Symposium: As We Forgive Our Debtors

Women In Bankruptcy And Beyond, Zipporah Batshaw Wiseman

Indiana Law Journal

Symposium: As We Forgive Our Debtors

The Role Of Empirical Data In Developing Bankruptcy Legislation For Individuals, Marjorie L. Girth

Indiana Law Journal

Symposium: As We Forgive Our Debtors

As We Forgive Our Debtors In The Classroom, Douglass Boshkoff

Indiana Law Journal

Symposium: As We Forgive Our Debtors

A Sociological Perspective On Bankruptcy, Lisa J. Mcintyre

Indiana Law Journal

Symposium: As We Forgive Our Debtors

The Malformed Mouse Meets The Libr: Secured And Restitutionary Claims To Commingled Funds, Harold R. Weinberg

Law Faculty Scholarly Articles

The "malformed mouse" is section 9-306(4)(d) of the Uniform Commercial Code. It provides a formula that determines the extent to which an insolvent debtor's commingled bank account contains funds subject to a security interest. A special entitlement is necessary because it is impossible to physically distinguish this collateral after commingling. The label malformed mouse is appropriate if one agrees with critics who have questioned the mouse's statutory architecture and underlying rationale. The image of an elusive creature is also apt. The mouse continues to elude understanding, although it has been part of the Code for many years and the subject …

Postpetition Interest Under The Bankruptcy Code, David Gray Carlson

University of Miami Law Review

No abstract provided.

Federal Oil Price Controls In Bankruptcy Cases: Government Claims For Repayment Of Illegal Overcharges Should Not Be Subordinated And “Penalties” Under 11 Usc §726(A)(4), Thomas A. Schweitzer

Scholarly Works

No abstract provided.

On The Nature Of Bankruptcy: An Essay Of Bankruptcy Sharing And The Creditor's Bargain, Thomas H. Jackson, Robert E. Scott

Faculty Scholarship

Finance theorists have long recognized that bankruptcy is a key component in any general theory of the capital structure of business entities. Legal theorists have been similarly sensitive to the substantial allocational and distributional effects of the bankruptcy law. Nevertheless, until recently, underlying justifications for the bankruptcy process have not been widely studied. Bankruptcy scholars have been content to recite, without critical analysis, the two normative objectives of bankruptcy: rehabilitation of overburdened debtors and equality of treatment for creditors and other claimants.

The developing academic interest in legal theory has spurred a corresponding interest in expanding the theoretical foundations of …

Annual Survey Of Virginia Law: Creditors' Rights, Joseph E. Ulrich

University of Richmond Law Review

This article addresses developments in Virginia creditors' rights from April 1988 to April 1989. It is aimed at the non-specialist who nonetheless handles creditors' rights problems in practice. The following will describe the more important holdings and offer some comments about these holdings.

The Rejection Of Executory Contracts Under The Intellectual Property Bankruptcy Protection Act Of 1988, John J. Fry

Cleveland State Law Review

In October of 1988, Congress enacted the Intellectual Property Bankruptcy Protection Act. The Act is intended to "promote the development and licensing of intellectual property by providing certainty to licensees in situations where the licensor files bankruptcy and seeks to reject the license as an executory contract by providing the licensee an "assurance of being able to continue to use the licensed intellectual property after rejection, while debtors/licensors will still be able to free themselves of burdensome obligations." The Act adds a new subsection to 11 U.S.C. §365 which allows the licensee of intellectual property under an executory contract to …

Constructive Trusts In Bankruptcy, Emily Sherwin

Cornell Law Faculty Publications

No abstract provided.