Franchising is a business model based on contracts between a franchisor and its franchisees. Like any commercial entity, a franchisor might become insolvent. The interests of franchisees whose franchisor becomes insolvent raises particular issues for insolvency law and policy. The current...

The proliferation of rules aimed at the management of cross-border insolvencies has not been coupled with sufficient attention to the choice of law rules relating to the avoidance of antecedent transactions as legal acts detrimental to all the creditors. This article is the first of its kind in...

Recent credit difficulties have revealed the potential inadequacies of UK insolvency regimes applicable to credit institutions, prompting the UK regulatory authorities to consult on the possibility of insolvency reform. This article discusses the recent credit crisis, considers the US bank...

On July 18, 2013, the City of Detroit commenced the largest chapter 9 municipal bankruptcy in American history. This article examines the early phase of the case based on a review of audio recordings of court hearings and primary source documents. Decisions made during the pre-eligibility period...

The current majority rule for handling the discharge of tax debt related to a tardily filed tax return is severely distorted and antithetical to sound bankruptcy and taxation policy. For years, it was established law that bankruptcy could discharge stale tax debts. Indeed, the Bankruptcy Code...

Master agreements typically include a range of different types of default and termination events. Given the numerous ways that a counterparty could become insolvent, it is important that market participants understand what would constitute an Insolvency Event with respect to theircounterparty...

This paper provides an account of the emergent phenomenon of ‘bankruptcy tourism' - forum shopping by debtors for favourable personal insolvency law - within the EU and with particular reference to England and Wales. After outlining the structural features of the European legal framework that...