By Dr. Kubi Udofia Cash flow and balance sheet insolvency tests are the two predominant means of determining insolvency. A …
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Simple Insolvency Detection for Publicly Traded Firms
By J.B. Heaton (J.B. Heaton, P.C.) Solvency plays important substantial roles in both bankruptcy and corporate law. In practice, …
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Restructuring Italy’s New York Law Bonds
By Andrea E. Kropp (Duke University School of Law) Little attention has been paid to Italy’s bonds issued under New York law in …
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What’s Wrong with Chapter 11?
By Charles J. Tabb (University of Illinois College of Law) The time has come to cast a discerning eye at chapter 11, the United …
Disagreement and Capital Structure Complexity
By Kenneth Ayotte (University of California, Berkeley School of Law) Complex capital structures are prevalent in many recent …
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The Dark Side of Bank Resolution: Counterparty Risk through Bail-in
By Wolf-Georg Ringe and Jatine Patel (University of Hamburg - Institute of Law & Economics, University of Oxford) Bail-in and …
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Financially Distressed Companies, Restructuring and Creditors’ Interests: What is a Director to Do?
By Andrew Keay (University of Leeds) Out of court restructuring is a popular and, according to many, optimal way of resolving the …
Disruption and Credit Markets
By Bo Becker (Stockholm School of Economics) and Victoria Ivashina (Harvard Business School) Corporate bond defaults have been on …
Disrupting Secured Transactions: Should UCC Article 9 Be Revised to Reflect the Rise of the Internet of Things?
By Christopher G. Bradley (University of Kentucky College of Law) The "Internet of Things" (IoT) refers to the networks formed …
Absolute Priority Redux: First-Day Orders and Pre-Plan Settlements in Chapter 11 Post-Jevic
By Bruce Grohsgal (Delaware Law School Widener University) Bankruptcy’s absolute priority rule arose 150 years ago to prevent …
Make-Whole Claims in Bankruptcy
By Sam Lawand (White & Case LLP) The well-established “perfect tender in time rule” dictates that debt must be repaid only …
Triangular Setoff Impermissible Under Section 553: No Contracting or Theorizing Around It, Section 553 Requires Mutuality
By Ronit J. Berkovich, Andriana Georgallas and Aarti Gupta (Weil, Gotshal & Manges LLP). In a recent decision, In re Orexigen …
Second Circuit Backs Foreign Clawback Claims in Madoff Bankruptcy Action
By Adam J. Goldberg, Christopher Harris, Robert J. Malionek, Kevin L. Mallen (Latham & Watkins) In In re Picard, Tr. for …
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The Social Costs of Dividends and Share Repurchases
By J. B. Heaton (J.B. Heaton, P.C.) The issue of share repurchases has captured the attention of United States senators on both …
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A New PDVSA? The Transfer of Venezuela’s Oil Assets to a Successor Entity and Fraudulent Conveyance
By Richard Levin (Jenner & Block LLP) and Roland Pettersson (LEC Abogados). This Working Paper analysis the hypothetical …
Restructuring Venezuela’s Debt: An Update
By Mark Walker (Guggenheim Securities) Lee Buchheit and Mitu Gulati have proposed an innovative and aggressive strategy to …
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OECD Report on Corporate Bond Markets in a Time of Unconventional Monetary Policy
By Ryan M. Rossner (Harvard Law School, J.D. 2019) On February 25, the OECD published another report in its Capital Market …
Crossing The Line In Cross-Border Insolvencies
By Jonathan C. Gordon (Jones Day). Consider an insolvency proceeding outside the United States. To obtain ancillary relief in the …
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Rethinking “Too Big To Fail”
By Saule T. Omarova (Cornell University) “Too big to fail” – or “TBTF” – is a popular metaphor for a core dysfunction of today’s …
Debt Restructuring and Notions of Fairness
By Sarah Paterson (London School of Economics & Political Science) In a recent article, I argue that we have repeatedly failed …
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