assets from the debtor in a way that would not be possible in a “normal” bankruptcy case. In particular, we examine how a … we see in both the United States and Canada - might allow the debtor's management to work with secured lenders to extract … quick sale can be used to cleanse assets of their association with environmental claims. We also consider how the insolvency …

Sewerage Authority and its ilk at another. The need for a bankruptcy system to address financial distress varies inversely with … a sovereign's place on the continuum. Queens and kings have no need for bankruptcy. They will pay or rework their debts … only if larger political or economic considerations induce them to do so. A bankruptcy judge, operating under a bankruptcy …

The absolute priority rule describes the basic order of payment in bankruptcy. Secured creditors get paid first …

European businesses. This means that existing insolvency procedures are largely focused on the relationship between a debtor …Corporate debtors facing financial distress have a choice: file bankruptcy in their home jurisdiction or file in the … United States. And some number of foreign corporations do file bankruptcy petitions in the United States.We expect this trend …

Among the collective wisdom about large corporate bankruptcy cases, the following points are almost undisputed: Longer …

In prior work I have argued that the derivative “safe harbors” in the Bankruptcy Code should be either repealed, or at … from the Bankruptcy Code, or must the Code be further adapted to reflect the prevalence of derivatives throughout the … economy? And if repeal is not enough, what kinds of issues should the Bankruptcy Code legitimately accommodate, and what …

also other features like the ability to provide post-bankruptcy liquidity to the debtor and delays on termination of …-essential, i.e. absolute priority rule, reorganization plan rules, debtor-in-possession rules, creditor committees, statutory …In this paper our goal is to identify the core of corporate bankruptcy law that parties cannot achieve on their own, no …

For almost as long as there have been bankruptcy laws, there have been complaints that the primary beneficiaries of … these laws are insiders who administer the bankruptcy system. In recent decades, this line of criticism has carried with it … an implicit criticism of bankruptcy courts, who are urged to more aggressively police the costs of bankruptcy. Indeed, at …