This paper discusses four bankruptcy-related policy issues. First, what is the economic rationale for having a bankruptcy procedure at all and what defines an economically efficient bankruptcy procedure? Second, why did the number of U.S. bankruptcy filings increase so dramatically between 1980...

This research examines the seminal heuristic of anchoring and adjustment and its effects on personal bankruptcy proceedings. Using a unique and detailed database of bankruptcy files we analyze the effect of the official receiver's recommendation on court decisions. The official receiver in...

Properly balancing between public and private interests is one of the most significant and complex challenges presented by modern insolvency law. The European Union insolvency law has recently embraced that challenge, by reinforcing the role that private actors, such as creditors and...

In 2018 there were almost three hundred thousand petitions filed under Chapter 13 of the Bankruptcy Code. But of this number fifty-five percent of these cases were dismissed. When the Chapter 13 trustee is holding funds yet to be disbursed at dismissal, a split in authority exists. Should the...

As the Department of Education reconsiders its rules governing consent to discharge of federal student loans in bankruptcy, this Article argues for the first time that the Department should approach the problem specifically as an operator of programs to promote education and benefit students,...

This is the text of a keynote address given at a conference with the same title held in New Delhi on 16 December 2019.In the address, I suggest that the defining feature of the approach taken by the drafters of India's new Bankruptcy Code was their decision to treat creditors as presumptively...

Although the term “bankruptcy” is nowhere to be found in the Bible, debt and the consequences of default are a major theme both in the Hebrew Bible and in the New Testament. In Israel, as in the ancient Near East generally, a debtor who defaulted on his obligations was often sold into...

Despite considerable litigation on the subject, there is little agreement as to whether courts must accept a "reliance argument" in bankruptcy fraud cases. This Article seeks to clarify the existing law and recommend changes to the governing statutes. The first three Parts of the Article serve a...

After providing an overview of the regulatory framework for early warning tools and informal non-collective preventive procedures focused on facilitating negotiations with creditors outlined in the draft restructuring directive, issued on November 22, 2016, this Article focuses on the...

The removal of geographic restrictions on banking activities can provide credit to a larger population. Economic hardships, however, can force some of the borrowers to default on their loans and file for bankruptcy to overcome financial distress. Using data aggregated at the US county-level, we...