Bankruptcy Law Commons^™

Economic Integration: An American Solution To The Multinational Enterprize Group Conundrum, Robert W. Miller

Richmond Journal of Global Law & Business

No abstract provided.

The Scorecard So Far: Emerging Issues In Cross-Border Insolvencies Under Chapter 15 Of The U.S. Bankruptcy Code, Megan R. O'Flynn

Northwestern Journal of International Law & Business

Chapter 15 of the U.S. Bankruptcy Code was modeled after the Model Law on Cross-Border Insolvency, drafted by the United Nations Commission on International Trade and Law (UNCITRAL) in 1997. Despite the relatively small number of cases commenced in U.S. Courts under Chapter 15 since its adoption, no other section of the current Bankruptcy Code has broader implications for international business transactions and global foreign business relations than the provisions of Chapter 15. Moreover, since the United States has long been an innovator at the forefront of international insolvency law, interpretation of key provisions of the Chapter and related UNCITRAL …

Can A Secured Creditor Be Denied The Right To Credit Bid When The Creditor’S Collateral Is Sold Pursuant To A Chapter 11 Plan Of Reorganization?, Marshall E. Tracht

Articles & Chapters

CASE AT A GLANCE

A bankruptcy plan can only be confirmed over the objection of a secured creditor if the plan is found to be “fair and equitable.” The fair and equitable standard requires, at a minimum, that (i) the creditor may retain its lien on its collateral; (ii) the collateral will be sold subject to the creditor’s right to credit bid its debt; or (iii) the creditor will receive the “indubitable equivalent” of its claim. The Supreme Court must decide whether a plan can provide for the sale of collateral without granting the creditor the right to credit bid …

Chapter 11 Reorganization And The Fair And Equitable Standard: How The Absolute Priority Rule Applies To All Nonprofit Entities, Pamela Foohey

Articles by Maurer Faculty

In recent years, nonprofit entities increasingly have sought bankruptcy protection. Though the Bankruptcy Code does not prevent nonprofits from reorganizing, Chapter 11 was designed for and applies best to for-profit businesses. This creates challenges for courts evaluating a nonprofit’s reorganization plan. This Article focuses on one crucial aspect of a court’s evaluation — the fair and equitable standard, a necessary, but not sufficient condition of which is satisfaction of the absolute priority rule.

The few courts addressing absolute priority claims in nonprofit reorganizations have held that the rule is categorically inapplicable to nonprofit entities except in limited circumstances. These courts …

State Mandated Disability Insurance As Salve To The Consumer Bankruptcy Imbroglio, Alena Allen

BYU Law Review

From Main Street to Wall Street, Americans are hurting. In 2009, over 1.4 million families filed for bankruptcy. Researchers examining the causes of bankruptcy discovered that as many as sixty-two percent of all bankruptcies were precipitated by a medical crisis. Because many Americans are living paycheck to paycheck and lack disability insurance, when a medical crisis strikes, bank accounts are quickly depleted by the amalgam of high medical bills and lost wages. Disability insurance provides needed wage replacement when a worker is unable to work due to an illness or injury. This Article presents the case for statemandated disability insurance …

Chair's Message, Michael Herz

Articles

No abstract provided.

Lien Priorities: The Defects Of Limiting The "Super Priority" For Common Interest Communities, Daniel Goldmintz

Cardozo Law Review

No abstract provided.

When The Chips Are Down: Do Indian Tribes With Insolvent Gaming Operations Have The Ability To File For Bankruptcy Under The Federal Bankruptcy Code?, Corina Rocha Pandeli

UNLV Gaming Law Journal

Indian gaming has become increasingly popular in the United States, with casino and resort facilities on federally recognized Indian land rivaling the likes of Las Vegas and Atlantic City casinos. Since the passage of the Indian Gaming Regulatory Act of 1988 (“IGRA”), gaming activities on Indian reservations across the country have skyrocketed, providing a substantive source of revenue to once economically downtrodden tribes. The IGRA places Indian tribes involved in gaming operations in a unique position because it affords them federal protection and oversight with respect to gaming operations, whereas state law regulates private gaming operations. In a relatively short …

Student Loans In Bankruptcy And The "Undue Hardship" Exception: Who Should Foot The Bill?, Kyle L. Grant

BYU Law Review

No abstract provided.

Protecting Your Retirement Savings From Potential Creditors, Pension Action Center, Gerontology Institute, University Of Massachusetts Boston

Pension Action Center Publications

State and federal laws provide strong protections to New England residents to shield their retirement savings from creditors. The particular protections available depend on whether you have filed for bankruptcy, how your retirement savings are kept, and where you live.

The Ticket To Easy Street? The Financial Consequences Of Winning The Lottery, Scott Hankins, Mark Hoekstra

Vanderbilt Law School Faculty Publications

This paper examines whether giving large cash transfers to financially distressed people causes them to avoid bankruptcy. A comparison of Florida Lottery winners who randomly received $50,000 to $150,000 to small winners indicates that such transfers only postpone bankruptcy rather than prevent it, a result inconsistent with the negative shock model of bankruptcy. Furthermore, the large winners who subsequently filed for bankruptcy had similar net assets and unsecured debt as small winners. Thus, our findings suggest that skepticism regarding the long-term impact of cash transfers may be warranted.

The Ticket To Easy Street? The Financial Consequences Of Winning The Lottery, Paige Marta Skiba, Scott Hankins, Mark Hoekstra

Vanderbilt Law School Faculty Publications

This paper examines whether giving large cash transfers to financially distressed people causes them to avoid bankruptcy. A comparison of Florida Lottery winners who randomly received $50,000 to $150,000 to small winners indicates that such transfers only postpone bankruptcy rather than prevent it, a result inconsistent with the negative shock model of bankruptcy. Furthermore, the large winners who subsequently filed for bankruptcy had similar net assets and unsecured debt as small winners. Thus, our findings suggest that skepticism regarding the long-term impact of cash transfers may be warranted.

Reciprocity Comity, Edward Janger

Faculty Scholarship

No abstract provided.

The Case For "Cramdown": Eliminating The Practical And Ideological Barriers To Pure Mortgage Modification, Peter J. Leo

University of Miami Business Law Review

No abstract provided.

Making Assumptions About The Individual Debtor's Right To Assume Under Sec. 365(P)(2), Laura B. Bartell

Law Faculty Research Publications

No abstract provided.

Bankruptcy, James D. Walker Jr., Amber Nickell

Mercer Law Review

The past few years have been somewhat uneventful in terms of the development of bankruptcy law in Eleventh Circuit courts. The year 2010 was no exception. The lack of significant cases in the lower courts, however, has been offset by notable activity in the Supreme Court of the United States, which has decided five bankruptcy cases since last year's Survey.

Trademark Licenses: Even In A Hypothetical Or Actual World, Footstar Got It Right, Saul Ehrenpreis

Student Articles and Papers

The core of many companies' business model depends heavily on access to a trademark license. Unfortunately, despite possessing a license and turning a profit, some of these companies run into difficulties and are forced to file for chapter 11. This article analyzes the legal issues faced by a company in this situation. First, it explores the existing tension at the intersection of bankruptcy and trademark law, then discusses the three approaches courts have taken to resolving this tension. It concludes with the proposal that only one of these approaches appropriately balances the competing interests at stake.

Proprietary Remedies In Insolvency: A Comparison Of The Restatement (Third) Of Restitution & Unjust Enrichment With English And Commonwealth Law, Anthony Duggan

Washington and Lee Law Review

This Article deals with proprietary remedies, in particular the constructive trust, and their application in the defendant’s bankruptcy. The Article offers a comparative analysis of English and Commonwealth law with the relevant parts of the recently completed Restatement (Third) of Restitution & Unjust Enrichment. The discussion is organized around five simple hypotheticals, each representing issues which courts in England and other parts of the Commonwealth have found particularly troubling: mistaken payments; misrepresentation in the context of land dealings; misrepresentation in other contexts; breach of fiduciary obligation; and specific performance. The aim is to identify the likely outcome in each case …

A New Approach To Section 363(F)3, Evan F. Rosen

Michigan Law Review

Section 363(f) of the Bankruptcy Code provides five circumstances in which a debtor may be permitted to sell property free of all claims and interests, outside of the ordinary course of business, and prior to plan confirmation. One of those five circumstances is contained in § 363(f)(3), which permits such a sale where the "interest is a lien and the price at which such property is to be sold is greater than the aggregate value of all liens on such property." While it is far from certain whether § 363(f)(3) requires a price "greater than the aggregate [face value] of …

The Chapter 13 Alternative: A Legislative Solution To Undersecured Home Mortgages, Hon. Samuel L. Bufford

University of Richmond Law Review

No abstract provided.