This Article proceeds as follows. Part I provides a concise overview of cryptocurrency. It develops the distinction between speculative and pegged cryptocurrencies, which has important insolvency and regulatory implications. Part II turns to the problem of cryptocurrencies themselves in...

The board’s fiduciary duties are the bedrock of corporate law. Bankruptcy trustees also owe fiduciary duties to the “bankruptcy estate.” But corporations in bankruptcy rarely worry about fiduciary duties, even those corporations in chapter 11 reorganization cases, where the company is...

If a broker-dealer liquidates in federal bankruptcy court, why does an insurance company liquidate in state court, and a bank outside of court altogether? Why do some businesses re-organize under state law 'assignments', rather than the more well-known Chapter 11 of the Bankruptcy Code? Why do...

We are in the midst of the most significant financial crisis since the New Deal, yet chapter 11 is notable mostly for its absence. Chapter 11 is thing that wrecked Lehman Brothers, and perhaps the credit markets. And the thing that the Federal Reserve and Treasury worked so hard to keep AIG and...

In this article, using a comparative approach (Canadian versus American and automotive versus financial sectors), we build on the defense of the Chapter 11 automotive cases that one of us has already put forward elsewhere. That is, the Chrysler and GM cases did not subvert normal Chapter 11...

In this paper, we examine the ways in which two large financial institutions were exposed to large legal expenses and potential litigation losses because of their failure to obtain court approval before taking action in the Lehman chapter 11 case

In recent years critics have lambasted a corporate bankruptcy system that they see as nothing more than competing bankruptcy courts offer[ing] high fees to bribe the lawyers to bring them cases. Of course, big firm corporate attorneys earn lofty hourly rates in or out of bankruptcy court. And...