Bankruptcy Law Commons^™

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 …

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 …

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

Cardozo Law Review

No abstract provided.

Chair's Message, Michael Herz

Articles

No abstract provided.

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 …

Orderly Liquidation Authority: A New Insolvency Regime To Address Systemic Risk, Hollace T. Cohen

University of Richmond Law Review

No abstract provided.

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

University of Richmond Law Review

No abstract provided.

The Immediate And Lasting Impacts Of The 2008 Economic Collapse--Lehman Brothers, General Motors, And The Secured Credit Markets, Edward J. Estrada

University of Richmond Law Review

This article analyzes the early days of the credit crisis as well as two of the largest casualties of that period-Lehman Brothers and General Motors. In addition, by focusing on the bankruptcy proceedings of these two entities as well as other judicial decisions rendered since the financial crisis began, it examines the role that courts have played in the crisis.

The Affordability Paradox: How Consumer Bankruptcy's Greatest Weakness May Account For Its Surprising Success, Angela Littwin

William & Mary Law Review

When the 2005 Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA) made consumer bankruptcy more expensive for all debtors, it inadvertently reignited a debate about how to make the system more affordable for its neediest beneficiaries. Even before BAPCPA, consumer bankruptcy suffered from the irony that those who needed it the most were often too poor to take advantage of its relief.

The seemingly obvious solution to this problem is to eliminate the major cost that consumer bankruptcy filers bear, that of paying their own lawyers. But in our rush to undo the harm caused by BAPCPA’s worsening of the …

Committee Capture? An Empirical Analysis Of The Role Of Creditors' Committees In Business Reorganizations, Michelle M. Harner, Jamie Marincic

Vanderbilt Law Review

The number of businesses experiencing financial distress increased significantly during the past several years. The number of Chapter 11 reorganization cases likewise rose. And many of these business failures were spectacular, leaving little value for creditors and even less for shareholders. Consequently, how the business debtor's limited asset pie is divided and who gets to allocate the pieces are very relevant and important questions.

The U.S. Bankruptcy Code generally contemplates the appointment of a committee of the debtor's unsecured creditors to serve as a fiduciary for all general unsecured creditors and as a statutory watchdog over the debtor and its …