By Daniel J. Bussel (UCLA School of Law) Bankruptcy law—once the vanguard of enterprise liability —has increasingly tended to …
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Rent Extraction by Super-Priority Lenders
By B. Espen Eckbo (Tuck School of Business at Dartmouth), Kai Li (Sauder School of Business at University of British Columbia) and …
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The New Bargaining Theory of Corporate Bankruptcy and Chapter 11’s Renegotiation Framework
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 …