Beyond Bankruptcy: Resolution As A Macroprudential Regulatory Tool,
2018
Duke Law School
Beyond Bankruptcy: Resolution As A Macroprudential Regulatory Tool, Steven L. Schwarcz
Faculty Scholarship
To try to protect the stability of the financial system, regulators and policymakers have been extending bankruptcy-resolution techniques beyond their normal boundaries. To date, however, their efforts have been insufficient, in part because bankruptcy law traditionally has microprudential goals (to protect individual firms) whereas protecting financial stability is a “macroprudential” goal.
This Article seeks to derive a logical and consistent theory of how and why resolution-based regulation can help to stabilize the financial system. To that end, the Article identifies three possible regulatory approaches: reactive resolution-based regulation, which comprises variations on traditional bankruptcy; proactive resolution-based regulation, which consists of pre-planned …
The Rise And Fall Of Fear Of Abuse In Consumer Bankruptcy: Most Recent Comparative Evidence From Europe And Beyond, 96 Tex. L. Rev. 1327 (2018),
2018
John Marshall Law School
The Rise And Fall Of Fear Of Abuse In Consumer Bankruptcy: Most Recent Comparative Evidence From Europe And Beyond, 96 Tex. L. Rev. 1327 (2018), Jason Kilborn
UIC Law Open Access Faculty Scholarship
Prepared for a symposium celebrating the groundbreaking career of Jay Westbrook, this Article examines recent evidence of fear of abuse of the benefits of consumer bankruptcy and the gradual abatement of that fear in modern consumer insolvency law reform. It marshals evidence of a recent and accelerating retreat in both the judicial discretion that Westbrook attributed to lawmakers' fear of abuse and other more direct techniques to avoid abusive recourse to consumer discharge. Fear of abuse appears to be diminishing with accumulated experience as indicated by recent liberalizing reforms in Denmark, Slovakia, Poland, Austria, Russia, and Romania. At the same …
Optimal Deterrence And The Preference Gap,
2018
University of Missouri School of Law
Optimal Deterrence And The Preference Gap, Brook E. Gotberg
Faculty Publications
This Article is the first of its kind to argue that preference law is ineffective as a deterrent of collection behavior based on empirical evidence, drawn from interviews of actors within the field-debtors, creditors, and the attorneys who represented them in bankruptcy proceedings. This Article reports on interviews of sampled individuals who participated in successful 7 Chapter 11 reorganization cases involving preference actions. The overwhelming and indisputable conclusion from these interviews is that creditors may adjust their behavior in response to preference law, but not in ways that further the purported goal of preference deterrence. Accordingly, if preference law is …
Section 704(B)(2) - The Back Door Into Chapter 7 For The Above-Median Debtor,
2018
Wayne State University
Section 704(B)(2) - The Back Door Into Chapter 7 For The Above-Median Debtor, Laura B. Bartell
Law Faculty Research Publications
No abstract provided.
Tracing Equity,
2018
University of North Carolina School of Law
Tracing Equity, Melissa B. Jacoby, Edward J. Janger
Faculty Publications
No abstract provided.
Bankruptcy,
2018
Northern District of Texas
Bankruptcy, Honorable Harlin D. Hale, Chance Hiner
SMU Annual Texas Survey
No abstract provided.
Modularity In Cross-Border Insolvency,
2018
University of Miami School of Law
Modularity In Cross-Border Insolvency, Andrew B. Dawson
Articles
No abstract provided.
Battle Of The Bayou: Placing A Receiver In The Right Position During A Bankruptcy Proceeding,
2018
St. Thomas University College of Law
Battle Of The Bayou: Placing A Receiver In The Right Position During A Bankruptcy Proceeding, Antonio M. Dinizo Jr.
St. Thomas Law Review
Investment Manager, Sam Israel, launched the Bayou Group LLC, a hedge fund, hoping to produce large returns for high net worth investors. After months of losses, it became clear to Israel that Bayou would never garner the types of returns he had promised investors. Instead of altering strategies or closing Bayou, Israel decided to convert Bayou into a Ponzi scheme. When Ponzi schemes fail, they present unique challenges for courts, regulators, creditors, and interested parties. One choice stakeholders will have to make is whether to appoint a receiver to marshal assets and seek a recovery for defrauded investors and creditors, …
Life In The Sweatbox,
2018
Indiana University Maurer School of Law
Life In The Sweatbox, Pamela Foohey, Robert M. Lawless, Katherine Porter, Deborah Thorne
Articles by Maurer Faculty
The time before a person files bankruptcy is sometimes called the financial “sweatbox.” Using original data from the Consumer Bankruptcy Project, we find that people are living longer in the sweatbox before filing bankruptcy than they have in the past. We also describe the depletion of wealth and well-being that defines people’s time in the sweatbox. For those people who struggle for more than two years before filing bankruptcy—the “long strugglers”—their time in the sweatbox is particularly damaging. During their years in the sweatbox, long strugglers deal with persistent collection calls, go without healthcare, food, and utilities, lose homes and …
Access To Consumer Bankruptcy,
2018
Indiana University Maurer School of Law
Access To Consumer Bankruptcy, Pamela Foohey
Articles by Maurer Faculty
This essay examines the state of access to justice in the context of consumer bankruptcy from two vantage points: (1) how people decide that their money problems are legal problems addressable by filing bankruptcy; and (2) the barriers people face in using the consumer bankruptcy system. To shed new light on how people decide to use bankruptcy to address their financial troubles, I analyze a sample of narratives accompanying consumers' complaints about financial products and services submitted to the Consumer Financial Protection Bureau. I also chronicle the evolution of research regarding consumer bankruptcy’s “local legal culture,” systemic racial bias, and …
Jevic's Promise: Procedural Justice In Chapter 11,
2018
Indiana University Maurer School of Law
Jevic's Promise: Procedural Justice In Chapter 11, Pamela Foohey
Articles by Maurer Faculty
In this Response to Jonathan Lipson's article, The Secret Life of Priority: Corporate Reorganization After Jevic, 93 Wash. L. Rev. 631 (2018)), I focus on Czyzewski v. Jevic Holding Corp.'s implications for procedural justice and corporate reorganization. In his article, Lipson explicitly links the chapter 11 process with the Bankruptcy Code’s substantive rules about priority, crafting a forceful argument about what procedural values the U.S. Supreme Court sought to uphold when it penned Jevic. In doing so, Lipson expounds on a broader truth about the co-option of corporate reorganization’s process in the name of value preservation. Procedural justice teaches that …
Midland Funding V. Johnson And The Pernicious Problem Of Stale-Debt Claims,
2018
University of Toledo College of Law
Midland Funding V. Johnson And The Pernicious Problem Of Stale-Debt Claims, Kara J. Bruce
Loyola of Los Angeles Law Review
No abstract provided.
The Federal Law Of Property: The Case Of Inheritance Disclaimers And Tenancy By The Entireties,
2018
Benjamin N. Cardozo School of Law
The Federal Law Of Property: The Case Of Inheritance Disclaimers And Tenancy By The Entireties, David Gray Carlson
Washington and Lee Law Review
No abstract provided.
Ending Litigation And Financial Windfalls On Time-Barred Debts,
2018
Texas State University
Ending Litigation And Financial Windfalls On Time-Barred Debts, Marc C. Mcallister
Washington and Lee Law Review
A trap for unsophisticated debtors, debt collectors often attempt to collect time-barred debts through written offers to settle those debts for a fraction of what is owed. Debtors typically respond to such offers in one of four ways. First, some debtors simply pay the offered settlement amount, usually 10%–40% of the total outstanding debt, thereby satisfying the debt in full. Second, those who wish to eliminate the debt but cannot pay the entire offered settlement amount will instead make a small payment, unwittingly reviving the statute of limitations on collections and making the entire debt judicially enforceable for several years …
A Canadian Lens On Third Party Litigation Funding In The American Bankruptcy Context,
2018
Osgoode Hall Law School of York University
A Canadian Lens On Third Party Litigation Funding In The American Bankruptcy Context, Stephanie Ben-Ishai, Emily Uza
Articles & Book Chapters
This Article offers two major recommendations to expand the use of third party litigation funding ("TPLF") into the U.S. insolvency context. As seen in the Canadian context, courts have accepted the use of litigation funding agreements fitting within certain parameters. If U.S. courts follow suit, friction against the implementation of TPLF can be mitigated. Alternatively, regulation may occur through legislative and regulatory models to govern and set out precisely what types of arrangements are permitted. Involving entities such as the SEC may expedite the acceptance of TPLF, but special attention is necessary not to intermingle notions of fiduciaries into the …
Jevic'S Promise: Procedural Justice In Chapter 11,
2018
University of Washington School of Law
Jevic'S Promise: Procedural Justice In Chapter 11, Pamela Foohey
Washington Law Review Online
This piece is a response to Jonathan C. Lipson, The Secret Life of Priority: Corporate Reorganization after Jevic, 93 Wash. L. Rev. 631 (2018).
Jevic'S Promise: Procedural Justice In Chapter 11,
2018
University of Washington School of Law
Jevic'S Promise: Procedural Justice In Chapter 11, Pamela Foohey
Washington Law Review Online
This piece is a response to Jonathan C. Lipson, The Secret Life of Priority: Corporate Reorganization after Jevic, 93 Wash. L. Rev. 631 (2018).
In Memory Of Roderick Glen Ayers, Jr. (1947–2017), Professor Of Law, St. Mary's University School Of Law,
2018
U.S. Bankruptcy Court, Western District of Texas
In Memory Of Roderick Glen Ayers, Jr. (1947–2017), Professor Of Law, St. Mary's University School Of Law, Craig A. Gargotta, William R. "Dick" Davis Jr.
St. Mary's Law Journal
On September 27, 2017, Glen Ayers, a former professor at St. Mary’s School of Law, passed away suddenly and unexpectedly. Two St. Mary's alumni—Bankruptcy Judge Craig A. Gargotta (1989) and William R. “Dick” Davis, Jr. (1983)—have provided this tribute to an icon of San Antonio’s bankruptcy bar.
Drilling When The Well Goes Dry: The Oklahoma Corporation Commission & The Police Power Exception To The Automatic Stay,
2018
University of Oklahoma College of Law
Drilling When The Well Goes Dry: The Oklahoma Corporation Commission & The Police Power Exception To The Automatic Stay, Connor R. Bourland
Oklahoma Law Review
No abstract provided.
Bad Rules Won’T Clean Dirty Pools: The Problem Behind Section 523(A)(16) Policy And The Unnecessary Burden It Places On Debtor Hoa Members,
2018
Florida International University College of Law
Bad Rules Won’T Clean Dirty Pools: The Problem Behind Section 523(A)(16) Policy And The Unnecessary Burden It Places On Debtor Hoa Members, Austin D. Murray
FIU Law Review
No abstract provided.
