By Anthony J. Casey (University of Chicago Law School) The prevailing theory of corporate bankruptcy law states that its purpose …
Reorganizing Health Care Bankruptcy
By Laura Coordes (Sandra Day O'Connor College of Law) Many health care providers are experiencing financial distress, and if the …
Involuntary Bankruptcy: Limited Remedy and Strong Sanctions for Abuse
By Michael L. Cook (Schulte Roth & Zabel LLP) Involuntary bankruptcy cases are relatively rare. According to the Second …
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The Rise and Fall of Regulatory Competition in Corporate Insolvency Law in the European Union
By Horst Eidenmüller (University of Oxford; European Corporate Governance Institute - ECGI) In a recent paper, I discuss the rise …
Indenture Trustee Duties: The Pre-Default Puzzle
By Steven L. Schwarcz (Duke University School of Law) Indenture trustees act for the benefit of the investors in a company’s …
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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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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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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 …
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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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 Recharacterization Under State Law
By James M. Wilton (Ropes & Gray, LLP) The majority federal law test for recharacterization of insider debt in bankruptcy …
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Bankruptcy Hardball
By Jared A. Ellias (University of California, Hastings) & Robert Stark (Brown Rudnick LLP) On the eve of the financial crisis, …