Because theory suggests that businesses will wait too long to file voluntarily, current scholarship asks whether bankruptcy should offer larger rewards to managers and shareholders to induce them to file earlier. Although creditors could force firms into bankruptcy sooner by filing involuntary...

Some bankrupt municipalities have proposed plans of reorganization that offer substantially greater recoveries to their active workers and retirees than those offered to other creditors. Because these greater recoveries are not mandated by a priority enjoyed by the active workers and retirees, a...

We ask whether the financial health of the FDIC limits its ability to efficiently resolve failed institutions. Consistent with this hypothesis, we find acquirers experience large and long-lasting abnormal returns around the announcement of a failed bank acquisition when the deposit insurance...

In numerous cases, courts have declined to apply the United Nations Convention on Contracts for the International Sale of Goods in litigation where the parties have pleaded domestic law, notwithstanding that the underlying contract satisfies criteria necessary for the CISG to serve as governing...

It is generally understood that the CISG is to be interpreted “autonomously” rather than through the lens of domestic law. Autonomous interpretation is required by the mandate of Article 7(1) that tribunals have regard for uniformity in the CISG’s application. There is, however,...