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 …
Continue Reading about Second Circuit Backs Foreign Clawback Claims in Madoff Bankruptcy Action
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 …
Continue Reading about The Social Costs of Dividends and Share Repurchases
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 …
Continue Reading about Restructuring Venezuela’s Debt: An Update
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 …
Continue Reading about Crossing The Line In Cross-Border Insolvencies
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 …
Continue Reading about Debt Restructuring and Notions of Fairness
Debt Recharacterization Under State Law
By James M. Wilton (Ropes & Gray, LLP) The majority federal law test for recharacterization of insider debt in bankruptcy …
Continue Reading about Debt Recharacterization Under State Law
Bankruptcy Hardball
By Jared A. Ellias (University of California, Hastings) & Robert Stark (Brown Rudnick LLP) On the eve of the financial crisis, …
Taking Control Rights Seriously
By Robert K. Rasmussen (University of Southern California Gould School of Law) It is common to observe that investors receive both …
Fifth Circuit’s Ultra Petroleum Decision Suggests Make-Wholes are Unenforceable in Bankruptcy, Questions Collectability of Contract Rate Postpetition Interest
By Donald S. Bernstein, Timothy Graulich, Marshall S. Huebner, Darren S. Klein, Brian M. Resnick, Christopher Robertson, Damian S. …
Consumer Response to Chapter 11 Bankruptcy: Negative Demand Spillover to Competitors
By O. Cem Ozturk (Georgia Institute of Technology - Scheller College of Business), Pradeep K. Chintagunta (University of Chicago), …
How Much Value Was Destroyed by the Lehman Bankruptcy?
The Federal Reserve Bank of New York’s Liberty Street Economics Blog has run a series of five posts seeking to estimate the total …
Continue Reading about How Much Value Was Destroyed by the Lehman Bankruptcy?
Debt Restructuring: When Do Loan and Bond Prepayments Pay Off?
By Edwin Fischer and Ines Wöckl (University of Graz) Many debtholders, whether private households, companies, or states, are …
Continue Reading about Debt Restructuring: When Do Loan and Bond Prepayments Pay Off?