The Bankruptcy Clause allows Congress to establish “uniform Laws on the subject of Bankruptcies throughout the United States.” Pursuant to this authority, the Bankruptcy Code, 11 U.S.C. §101 et seq., governs consumer bankruptcy in the U.S. As a federal statute, it might be expected that the...

Part I examines the intersection between divorce and bankruptcy in contemporary American society, providing an overview of divorce demographics and an introduction to the bankruptcy process. Part II offers a pre- and post-Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA)...

Courts have consistently ruled that excess insurers are not required to provide "drop-down" coverage to pay for losses sustained by policyholders in cases where (a) the primary underlying insurer is insolvent and unable to pay or (b) the policyholder itself is in bankruptcy and is unable or...

This Article will examine the conflict between the Bankruptcy Code and state sovereignty. The Article shows that while state substantive law is extensively incorporated into federal bankruptcy law, the Bankruptcy Code prevails over state sovereign immunity when applying bankruptcy law. In other...

This article examines whether severance benefits promised to employees pre-petition may be paid after the employer has filed a chapter 11 bankruptcy petition. The answer depends on whether the severance benefits were payable based on length of service or in a single lump-sum payment, and whether...

A generation of Americans has borrowed heavily for their education, and hundreds of thousands of them are deeply in debt. Some 37 million Americans owe a total of approximately $1 trillion dollars in student loans. They constitute an Indentured Generation as many of them will be paying student...

Section 1129(b)(2)(A)(iii) provides that a plan of reorganization is "fair and equitable" with respect to a class of secured creditors if it provides the creditors with the "indubitable equivalent" of their claims. This means that the debtor can compel the creditors to accept property other than...

Student loan debt in the United States exceeds $1.1 trillion — more than any other type of consumer debt except for mortgage loans — while new education lending continues at an explosive pace. In this book, the authors offer expert knowledge to enable bankruptcy and consumer credit...

The phrase “with Chinese characteristics” (zhongguo tese 中国特色) connotes Chinese adaptation of Western institutions, but with modifications to suit conditions in China. The People's Republic of China Enterprise Bankruptcy Law (“EBL”) was adopted by the People's Congress Standing...

This article discusses current ethical issues which attorneys may encounter while representing consumers in bankruptcy. It posits four hypothetical scenarios. First, it analyzes an attorney's options for unbundling legal services in Chapter 7 cases. It then looks at the issues surrounding “fee...