This article reviews the law and economics of consumer debt collection and its regulation, a topic that has taken on added urgency in light of the announcement by the Consumer Financial Protection Bureau that it is considering new regulations on the subject. Although stricter regulation of...

In this paper we provide an explanation for why the Chapter 11 reorganization process cannot accurately value and reorganize an insolvent firm. Due to the information and incentive vacuum of the reorganization process, Chapter 11 places the bankruptcy judge is in the same institutional setting...

A growing number of state governors are voicing concern about the damage inflicted on their states' budgets—on both the revenue and the expenditure sides—by the COVID-19 pandemic. The situation is particularly dire for the many states that entered the current crisis with “preexisting...

The bankruptcy proceedings of Chrysler and General Motors were filed at the height of the financial crisis that rocked the global economy in the late-2000s. Although both companies originally received federal financial bailouts to try to avert bankruptcy, within months they were forced to file...

In his new book, "Courting Failure: How Competition for Big Cases is Corrupting the Bankruptcy Courts", Professor Lynn LoPucki's book argues that that current bankruptcy venue rules have spawned an improper competition for big cases that has corrupted America's bankruptcy courts. LoPucki argues...

The institution of bankruptcy law seeks to facilitate economic efficiency by enabling the reorganization of economically viable but financially distressed firms and facilitating the liquidation of economically failed firms. Does the U.S. Chapter 11 bankruptcy process perform this filtering...