Bankruptcy Law Commons^™

Mesa Airlines, Brittany Brent, Lindy Harris

Chapter 11 Bankruptcy Case Studies

No abstract provided.

The Bankruptcy Of Golfers' Warehouse, Inc.: A Lesson In How To Sell A Business In Chapter 11, Briton Collins, Will Smith, David Choi

Chapter 11 Bankruptcy Case Studies

No abstract provided.

Independence Air, Kara West, Patrick Woodside

Chapter 11 Bankruptcy Case Studies

No abstract provided.

Lambuth, Jennifer Crake, Zackarij Gradner, Scott Mcleod

Chapter 11 Bankruptcy Case Studies

No abstract provided.

Movie Gallery, Cornell Kennedy, Phylinda Ramsey, Kevin Rayburn

Chapter 11 Bankruptcy Case Studies

No abstract provided.

In Re Jazz Photo Corp., Archie Carden, Cory Swainston

Chapter 11 Bankruptcy Case Studies

No abstract provided.

In Re Adelphia Communications Corp., Hilari Sheffield, Adam Smith

Chapter 11 Bankruptcy Case Studies

No abstract provided.

New Era Bankruptcy, Holly N. Mancl

Chapter 11 Bankruptcy Case Studies

No abstract provided.

Cross-Border Bankruptcy And The Cooperative Solution, Leah Barteld

Student Articles and Papers

Cross-border bankruptcy continues to be an important topic within bankruptcy regimes worldwide. As more corporations find themselves interacting in a market without the confines of geographic borders, countries need to adapt their regulatory schemes to be able to properly handle an orderly liquidation or reorganization without an adverse impact on the economy. This paper discuses the challenges of a cross-border bankruptcy regime that would be effective and proposes a cooperative solution for increasing coordination among insolvency proceedings. As a result of increasing cooperation among jurisdiction in light of the recent and ongoing financial crisis, reform within the bankruptcy regimes around …

Reader's Digest, Walter Machnicki

Chapter 11 Bankruptcy Case Studies

No abstract provided.

Makalidung's Post: How Stern V. Marshall Is Shaking A Bankruptcy Court Jurisdiction To Its Core, Christopher S. Lockman

Duquesne Law Review

No abstract provided.

Three Approaches To Applying 11 U.S.C § 546(E)’S “Safe Harbor” To Private Lbos, Shlomo Lazar

Bankruptcy Research Library

(Excerpt)

The Bankruptcy Code gives a trustee and a debtor-in-possession the authority to avoid fraudulent transactions. However, 11 U.S.C. § 546(e) limits the trustee’s avoiding powers by providing a safe harbor for “settlement payments.” Generally, a “settlement payment” is a payment of cash or securities made to complete a securities transaction. For example, money that an individual pays to a stockbroker to buy publicly traded shares is a settlement payment. A recent issue that has arisen is whether payments made to former shareholders in connection with a private leveraged buyout (LBO) constitute a “settlement payment.”

Depending on which jurisdiction a …

The Ponzi Scheme Presumption And Fraudulent Conveyances In The 21st Century: It’S Not Just Black And White, Gabriella B. Zahn

Bankruptcy Research Library

(Excerpt)

Section 548(a)(1)(A) of the Bankruptcy Code (the “Code”) allows the trustee of a bankruptcy estate to avoid a transfer made by the debtor “with actual intent to hinder, delay, or defraud” an entity to which the debtor was or became indebted, as long as the transfer was made within two years of filing. Because it is difficult to prove that a transfer was made with such actual intent, courts have applied the so-called “Ponzi scheme presumption.” In cases involving conveyances in Ponzi schemes, the “Ponzi scheme presumption” allows the court to assume that a transfer was made with the …

In Re J.J. Re–Bar Corp.: The Application Of The Anti-Injunction Act, Eric Dostal

Bankruptcy Research Library

(Excerpt)

The Anti–Injunction Act is a provision of the U.S Code that prohibits any court from impeding the Internal Revenue Service from collecting an assessed tax. The Circuits have applied the Anti–Injunction Act to bankruptcy proceedings in two different ways. When the IRS seeks to assess a tax against a corporate fiduciary of a bankrupt corporation, as when the IRS tries to collect a penalty associated with unpaid payroll taxes, the Circuits have held that the Anti–Injunction Act allows the IRS to collect the funds it is entitled to without any interference. However, when the IRS attempts to collect unpaid …

Discrimination In Hiring Based On Past Bankruptcy Filing Allowed For Private Employers, Megan Quail

Bankruptcy Research Library

(Excerpt)

Section 525 of the Bankruptcy Code protects employees who currently are or have previously been in bankruptcy from discrimination. It contains two subsections. Subsection (a) states that government employers may not deny employment to, terminate the employment of, or discriminate with respect to employment against a person who has filed bankruptcy solely because of that filing. Subsection (b) provides that no private employer “may terminate the employment of, or discriminate with respect to employment against” individuals for declaring bankruptcy. The salient difference is that the section applying to private employers does not mention denial of employment in its list …

A Casus Omissus In Preventing Bankruptcy Fraud: Ordering A Search Of A Debtor’S Home, 73 Ohio State Law Journal 93 (2012)., Michael D. Sousa

Sturm College of Law: Faculty Scholarship

Most individual debtors file for bankruptcy relief with honest intentions. Nonetheless, there is also an underside to the American bankruptcy law system that often goes unreported and ignored in the scholarly literature, namely, the commission of fraud by debtors who seek protection under the Bankruptcy Code. One of the ways in which fraud upon the bankruptcy system occurs is when debtors intentionally conceal assets from the bankruptcy process. Indeed, reported bankruptcy court decisions are rife with examples of debtors attempting to hide or shield assets from their creditors. Debtors who are discovered concealing assets are subject to certain civil remedies, …

Business Insolvency And The Irish Debt Crisis, 11 Rich. J. Global L. & Bus. 407 (2012), Paul B. Lewis

UIC Law Open Access Faculty Scholarship

Among the volume of material written about the Irish debt crisis and its impact over the past few years, strikingly little has been written about the ability to save a financially distressed company under Irish law and whether corporate restructuring could have mitigated some of the financial damage to Irish companies, particularly those in the property and construction industries. There is a reason for this. The number of filings under the Examinership law - the rough equivalent of Chapter 11 in the United States - remained small and relatively constant during both the recent boom and the more immediate bust …

Student Loans, Politics, And The Occupy Movement: Financial Aid Rebellion And Reform, 46 J. Marshall L. Rev. 105 (2012), Kamille Wolff Dean

UIC Law Review

No abstract provided.

Business Insolvency And The Irish Debt Crisis, Paul B. Lewis

Richmond Journal of Global Law & Business

No abstract provided.

Considerations For Private Equity Firms When Utilizing Chapter 11 New Value Deals, Alexandra Wilde

Michigan Business & Entrepreneurial Law Review

The new value exception to the Chapter 11 absolute priority rule provides a narrow avenue for equity holders to retain an equity interest in a reorganized company over the objections of senior creditors and interest holders. With the increasing number of Chapter 11 reorganization filings by private equity owned companies, private equity firms may be interested in exploring ways to retain their equity ownership in the debtor company. This Note explores the unique implications a private equity firm may encounter when attempting to utilize the new value exception as a last resort to maintain ownership in a debtor company. Part …