This is a response to the Department of Education's request for information regarding evaluating undue hardship claims in adversary actions seeking student loan discharge in bankruptcy proceedings. Although by law student loan borrowers may receive a discharge of their student loans when...

This article reports on responses from a survey sent to members of ABI's Business Reorganization Committee. The survey was designed to inform the ABI Commission to Study the Reform of Chapter 11. Committee members were surveyed over a two-week period in March 2014. The survey, which asked more...

Since 1976, Congress has progressively amended the bankruptcy laws to treat some types of student loans differently from other unsecured debt. In 2005, student loans originated by private companies — loans granted only to credit-worthy individuals and risk-priced at origination — were added...

This Article presents the first in-depth examination of consumer Chapter 7 asset cases in over 20 years, and the first ever using a national sample of consumer bankruptcies. It finds that only 7% of Chapter 7 cases filed by individuals result in assets to distribute to creditors, and that the...

As part of federal and state relief programs created during the COVID-19 pandemic, many American households received pauses on their largest debts, particularly on mortgages and student loans. Other people may have come to agreements with their lenders, likewise pausing or altering payment on...

What would happen if the City of Chicago, the Chicago Public Schools, and Cook County all became insolvent at the same time? How should policy-makers and courts respond? This Article argues that the pension and budget crises that have left so many local governments deeply in debt have generated...

The idea of a bankruptcy procedure for large, systemically important financial institutions exercises an irresistible draw for some policymakers and academics. Financial institution bankruptcy promises to be a transparent, law- based process in which resolution of failed financial institutions...

This Essay argues for the repeal of the bankruptcy safe harbors for financial contracts because they are redundant systemic risk safeguards. Most systemically important types of financial contracts now clear through clearinghouses. Clearinghouses are a superior method to the safe harbors for...