Bankruptcy law has a language problem. Words concerning bankruptcy “equity” and a bankruptcy court's “equitable powers” are tossed about, in pleadings, court opinions, and scholarly literature, but no one agrees on what “equity” means in the bankruptcy context. Is equity about...

Many health care providers are experiencing financial distress, and if the predicted wave of health care bankruptcies materializes, the entire U.S. economy could suffer. Unfortunately, health care providers are “bankruptcy misfits,” in the sense that bankruptcy does not work for them the way...

Scholars have long sought to apply principles from U.S. bankruptcy law to sovereign debt restructuring. Chapter 9 of the U.S. Bankruptcy Code, used to adjust the debts of municipalities, has been a particular source of inspiration, and several proposals currently exist to adapt chapter 9 to...

Native American tribes and tribal businesses play an important role in U.S. commerce, but many of these entities are effectively prohibited from filing for bankruptcy relief when financial distress occurs. This Article demonstrates how and why the Bankruptcy Code is a poor fit for these...

Chapter 9 of the U.S. Bankruptcy Code has many shortcomings. One of the most persistent, yet understudied, problems judges face in chapter 9 is also a problem that exists in other areas of bankruptcy law: the sheer difficulty of applying generalized plan confirmation standards to wildly...

In order to file for chapter 9 bankruptcy, municipalities must demonstrate that they meet several eligibility requirements. Too often, these eligibility rules impede municipalities from attaining desperately needed relief. This Article posits that the chapter 9 eligibility requirements should be...

Similar circumstances, do not? This Article builds on the literature examining the causes and consequences of municipal fiscal distress by exploring specific factors that lead municipalities to seek help from the state and federal government. Viewing municipal opportunities and constraints...

What sorts of legal relief should be available to a municipality in financial distress? Chapter 9 of the Bankruptcy Code has served as an option of last resort for many municipalities over the years. But as this Article illustrates, Chapter 9 arguably falls short of an effective solution and at...

Companies routinely file bankruptcy cases in venues that have no meaningful connection to the company, its operations, or its stakeholders. This practice (1) divorces bankruptcy and venue from their ties to location; (2) disrupts the fundamental balance underlying the Bankruptcy Code by shifting...