z Bankruptcy Litigation Blog : Recent Articles of Interest

Twin Picks of the Month - Part I: Davey's Required Bankruptcy Reading for December 2007

Last year, I posted "twin picks of the month" (here and here) in honor of the birth of my twin boys, Davey and Zack.  Well, they've just turned one, so it's time for another twin pick in their honor!  In light of all the depressing news out there, I hope these pictures of Davey and Zach help put a smile on your face!

***

Continue Reading print this article | Posted By Steve Jakubowski In Recent Articles of Interest | 0 Comments | Permalink

Recent Bankruptcy-Related Articles of Interest Available for Downloading from SSRN

Here are some general bankruptcy related articles of interest that are available for downloading from SSRN.  Their abstracted summaries follow:

***

UNLV's Nancy B. Rapoport and Forensics Consulting Solutions' Roland J. Bernier III, "(Almost) Everything We Learned about Pleasing Bankruptcy Judges, We Learned in Kindergarten" (Abstract ID: 1157103)

***

Stetson University's Michael S. Finch, "Giving Full Faith and Credit to Punitive Damage Awards: Will Florida Rule the Nation?" (Abstract ID: 1143578)

***

Stetson University's Theresa J. Pulley Radwan, "Trustees in Trouble: Holding Bankruptcy Trustees Personally Liable for Professional Negligence"
(Abstract ID: 1138069)

***

Stetson University's Theresa J. Pulley Radwan, "Limitations on Assumption and Assignment of Executory Contracts by 'Applicable Law'"
(Abstract ID: 1138056)

***

Temple University's S. Todd Brown, "Non-Pecuniary Interests and the Injudicious Limits of Appellate Standing in Bankruptcy"
(Abstract ID: 1114917)

***

Santa Clara University's Alexander J. Field, "Bankruptcy, Debt, and the Macroeconomy, 1919-1946" (Abstract ID: 1109259)

***

UNLV's Tuan Samahon, "Are Bankruptcy Judges Unconstitutional? An Appointments Clause Challenge" (Abstract ID: 1108694)

***

Univ. of Chicago's Randall C. Picker, "'Twombly', 'Leegin' and the Reshaping of Antitrust", (Abstract ID: 1091498)

***

Abstract summaries for each of the foregoing articles follow below:

  

Continue Reading print this article | Posted By Steve Jakubowski In Recent Articles of Interest | 0 Comments | Permalink

Picks of the Month: Required Bankruptcy Reading for November 2007

Here are the picks of the month for November 2007, a month when we Americans reflected on all there is to be thankful for.  The book to the right, The Moment of Truth in Iraq: How a New "Greatest Generation" of American Soldiers is Turning Defeat and Disaster into Victory and Hope, contains a remarkable set of essays by a very brave freelance journalist, Michael Yon, and reminds us of all we have to be thankful for.  Michael has been embedded with the US troops in Iraq and Afghanistan for several years now and his searing daily narratives of events in Iraq and Afghanistan provide a unique and important perspective to the advances, setbacks, and challenges faced in these conflicts.  This book is required reading whether you're for, against, indifferent, or ambivalent about America's present wars. 

Here's a link to the 108 customer reviews on Amazon.com, 94 of whom gave it 5 stars.  General David Petraeus said this about Michael's book: 

He's fearless ... provides a candid, soldier's-eye view ... from the very unique perspective of being there with them for weeks and months at a time ... delv[ing] deep into the human component.

Michael's blog (now an "online magazine") has long been listed at the end of my blogroll.  Please take the time to read Michael's blog posts and to lend support to his ventures, for which you are guaranteed he'll be most thankful.

***

Continue Reading print this article | Posted By Steve Jakubowski In Recent Articles of Interest | 0 Comments | Permalink

Picks of the Month: Required Bankruptcy Reading for October 2007

Here are the picks of the month for October 2007.

To the right is a Stu's Views cartoon by Stu Rees, and was the feature cartoon for Halloween 2007 on Tom Kirkendall's Houston Clear Thinkers Blog under the blog post entitled, "A Halloween Harbinger?"

***

Continue Reading print this article | Posted By Steve Jakubowski In Recent Articles of Interest | 0 Comments | Permalink

Picks of the Month: Required Bankruptcy Reading for September 2007

As everyone watching this year's entertaining (and sleep-depriving) Beijing Olympics knows, records are made to be broken.  Blogging records are no exception, with my latest post on Judge Markell's bombshell ruling nearly, but not quite, breaking with 1,482 page views this blog's two-day record of 1,519 page views from April 2006 (featuring BAPCPA-Guru Cathy Vance's roundup of BAPCPA's "terrible two's").  Cathy's post, too, holds the single-day "Ruthian" record of 1,074 page views.  Thanks to all for tuning in and continuing to inspire me to blog!

With the weekend upon us, here's another in the picks of the month series, this one covering September 2007.  Special thanks to the firm's phenomenal interns, 3L-Jamie Johnson and Barnard-bound Marie Whittaker, for their help in assembling this post.

***

Continue Reading print this article | Posted By Steve Jakubowski In Recent Articles of Interest | 0 Comments | Permalink

Picks of the Month: Required Bankruptcy Reading for August 2007

Time to catch up on summer reading.  Last summer, that is.  This post is part of the continuing series, started back in October 2005, linking to important bankruptcy-related articles of interest.  The last post in the series came after the birth of my twin boys last October and covered picks for June and July 2007. 

Special thanks to Marie Whittaker, our Barnard-bound summer intern, who's spent much time assembling this and future posts.  This post covers required reading for August 2007.

***

Continue Reading print this article | Posted By Steve Jakubowski In Recent Articles of Interest | 1 Comments | Permalink

Twin Picks of the Month - Part II: Zack's Required Bankruptcy Reading for July 2007

One thing is certain, no two fraternal twins are alike.  And Zachary Spencer, yanked out feet first at an equally healthy 6 lbs. 6 oz. five minutes after his brother Dave (and none too happy about having lost the territory seized from his escaping brother), is as unlike his brother Dave as are many of the famous twins on this list.  While Dave cried, Zack cooed.  While Dave gulped, Zack nibbled.  While Dave screamed his head off, Zack lay pensive, eyes wide open, fingers perched thoughtfully on his chin.  But both share this: they are miracles and blessings for which we are most grateful!

This final twin post of the day contains my "Picks of the Month" for July 2007, and is dedicated to my second newborn son, Zack, whose picture is also from about two weeks ago.  Thanks again to everyone for their double "mazel tovs"!

***

Continue Reading print this article | Posted By Steve Jakubowski In Recent Articles of Interest | 0 Comments | Permalink

Twin Picks of the Month: Dave's Required Bankruptcy Reading for June 2007

Ahh, the joy of twin boys!  A great blessing no matter how you slice it.  The first, David Charles, was born at 3:55 p.m. on October 1, and weighed a healthy 6 lbs. 14 oz.  The picture you see of him was about 2 weeks ago, and was about the only time I could catch him not crying.  Since then, the miracle of Baby Zantac has snuffed the curse my mother must have put on me for my three months of non-stop crying as a colicky baby.

Needless to say, life's priorities have changed for me a bit since the twins' birth, and blogging was an early victim of my sleep-deprived days.  But with Baby Zantac not only having controlled Davey's colic, but also having given me a near full night's rest, it's time to catch up on my "Picks of the Month" series of posts, these being for June 2007, and dedicated to my newborn son, Dave.  Thanks to everyone for their good wishes this past month!

***

Update - 10/31/07:   My wife read the post, and wanted me to know that Davey's colic is neither "cured" nor "controlled."  Guess I'm leaving early tonight.

***

Continue Reading print this article | Posted By Steve Jakubowski In Recent Articles of Interest | 2 Comments | Permalink

Picks of the Month: Required Bankruptcy Reading for May 2007

Time to catch up on more "Picks of the Month."  These picks are for May 2007:

Today's feature is Delaware, one of my favorite states, with its rolling hills, surprisingly lush forests, superlative courts (notwithstanding some opinions to the contrary, critiqued here), and outstanding bloggers--both "old" (e.g., Francis Pileggi's "must-read" Delaware Corporate and Commercial Litigation Blog) and "new" (e.g., Chuck Kunz's and Morris James's Delaware Business Bankruptcy Blog).

The inset chart is from the March 2005 Newsletter of the Federal Courts, entitled For Delaware Bankruptcy Court, Appeal is a Mixed Blessing, and supports the point that though "according to the [complicated federal bankruptcy] judgeship formula, Delaware should currently field a team of 13 bankruptcy judges, [t]hey have two."  Since then, as reported here, they added more (to the delight of Delaware's district court judges who pinch-hit for years to help carry the load)! 


Finally, speaking of Delaware Bankruptcy Courts, as attested to in Francis Pileggi's link to Kevin LaCroix's post in the D&O Diary on Judge Kevin Gross's recent D&O coverage ruling in the World Health Alternatives case, a once great lawyer is proving to be a great judge too!

[6/22/07 Update:  Be sure to read Bob Eisenbach's excellent commentary on Judge Gross's decision, entitled Who Gets the Benefit of a D&O Policy's Proceeds: The Directors and Officers or the Bankruptcy Trustee? Thanks also to Delaware's gentleman and scholar, Francis Pileggi, for his kind words and links to this post!]

***

 

Continue Reading print this article | Posted By Steve Jakubowski In Recent Articles of Interest | 1 Comments | Permalink

Recent Comparative Bankruptcy-Related Articles of Interest Available for Downloading from SSRN

The following comparative bankruptcy-related scholarly papers, arranged by SSRN abstract ID number, can be downloaded from the Social Science Research Network website:

 

[The inset image was taken from Tom Kirkendall's post on the passage last August of "long-awaited amendments to China's bankruptcy laws."  These amendments took effect June 1, 2007.  Those clammering for more on China's bankruptcy laws, be sure to read this interview with Cadwalader's Deryck Palmer and John Rapisardi, as well as this post by Dan Harris on the China Law Blog.  There's also a helpful recent summary written by DLA Piper's China-based partners Prue Mitchell, Louis Meng, and Lampros Vassilou entitled, China's New Bankruptcy Law: A Long-Awaited Compromise.]


[6/12/07 - Update:  Check out Bob Eisenbach's follow up on China's new bankruptcy law at his (In the Red) Business Bankruptcy Blog, which links to an English translation of the new law and other pertinent topics.]

***

Univ. Paris IX Dauphine's Anne Epaulard and Univ. of Lausanne's Aude Pommeret, "Bankruptcy Law and Firms' Behavior" (Abstract ID: 987999)

***

York University Law School's Stephanie Ben-Ishai, "Bankruptcy for the Poor?" (Abstract ID: 974779)

***

London Business School's Viral V. Acharya and Emory University's Krishnamurthy Subramanian, "Bankruptcy Codes and Innovation" (Abstract ID: 971566)

***

Cranfield University's Vineet Agarwal and Univ. of Edinburgh's Richard Taffler, "Comparing the Performance of Market-Based and Accounting-Based Bankruptcy Prediction Models" (Abstract ID: 968252)

***

Cranfield University's Puliyur Sudarsanam, Nottingham University's Mike Wright, and Cranfield University's Jian Huang, "Going Private Buyouts and Shareholder Wealth Gains: Impact of Bankruptcy Risk" (Abstract ID: 967731)

***

Institute for Macroeconomic Analysis and Development's Arjana Brezigar Masten and Univ. of Ljubijana's Igor Master, "Comparison of Parametric, Semi-Parametric and Non-Parametric Methods in Bankruptcy Prediction" (Abstract ID: 967637)

***

Nagoya City University's Kotaro Inoue, Nagoya University's Hideaki Kiyoshi Kato, and Nanzan University's Marc Bremer, "Corporate Restructuring in Japan: Who Monitors the Monitor?" (Abstract ID: 965595)

***

Domagoj Satjer, "Must Bankruptcy Administrators Be Corporate Undertakers? Creation and European Perspectives of Restructuring in Bankruptcy" (Abstract ID: 965367)

***

Cambridge Associates Asia Pte Ltd's Beng Tat Lee, "Claiming a Pound of Flesh as a Contingent or Prospectives Creditor Under the Companies Act" (Abstract ID: 965259)

***

Univ. of Waterloo's J. Efrim Boritz and Duane B. Kennedy and Univ. of Auckland's Jerry Y. Sun, "Predicting Business Failures in Canada" (Abstract ID: 963767)

***

Univ. of Amsterdam's Joseph A. McCahery, "Creditor Protection in a Cross-Border Context" (Abstract ID: 963348)

***

Univ. of Milan's Francesco Denozza, "Different Policies for Corporate Creditor Protection" (Abstract ID: 963345)

***

Univ. of Mainz's Peter O. Mulbert, "A Synthetic View of Different Concepts of Creditor Protection, Or: A High-Level Framework for Corporate Creditor Protection" (Abstract ID: 963342)

***

Univ. of Munich's Horst Eidenmuller, "Trading in Times of Crisis: Formal Insolvency Proceedings, Workouts and the Incentives for Shareholders/Managers" (Abstract ID: 963337)

***

Univ. of Freiburg's Hanno Merkt, "Creditor Protection Through Mandatory Disclosure" (Abstract ID: 963327)

***

Abstracts for each of these papers follows: 

Continue Reading print this article | Posted By Steve Jakubowski In Recent Articles of Interest | 0 Comments | Permalink

Picks of the Month: Required Bankruptcy Reading for April 2007

Time to catch up on more "Picks of the Month."  These picks are for April 2007:

Bankruptcy veterans (and Tennesseeans) will recognize the inset photo of the Bankruptcy Court for the Middle District of Tennessee, located in the famed U.S. Customs House in Nashville, Tennessee.  President Rutherford B. Hayes laid the cornerstone to the building in 1877 on the purported first visit of a president to the South since the Civil War.  According to this story, the building represented "something of a payoff for Southern support in Hayes' bid for the presidency [and was] evidence that he was living up to his promises, because it was the first such federal building in the former Confederate states."

The court is presently home to the district's chief bankruptcy judge, the Hon. George C. Paine, II, and to Judges Keith M. Lundin (famed BAPCPA basher and author of a 2005 article entitled "Ten Principles of BAPCPA:  Not What Was Advertised") and Marian F. Harrison (who is overseeing this political hot potato involving Sen. Hillary Rodham Clinton and her brother Tony).

***

Continue Reading print this article | Posted By Steve Jakubowski In Recent Articles of Interest | 0 Comments | Permalink

Recent Posted or Updated Bankruptcy Business-Related Articles of Interest Available for Downloading from SSRN

The following bankruptcy business-related scholarly papers, arranged by SSRN abstract ID number, can be downloaded from the Social Science Research Network website:

***

Univ. of Chicago Law School's Douglas G. Baird, IMD International's Arturo Bris, and Yale School of Management's Ning Zhu, "The Dynamics of Large and Small Chapter 11 Cases: an Empirical Study" (Abstract ID:  866865)

***

Vanderbilt Univ. School of Law's Robert K. Rasmussen, "Empirically Bankrupt" (Abstract ID:  895547)

***

Harvard Law School's Elizabeth Warren and UT Austin's Jay Alan Westbrook, "The Dialogue between Theoretical and Empirical Scholarship" (Abstract ID:  945155)

***

Univ. of Rochester's Greg McGlaun, "Lender Control in Chapter 11: Empirical Evidence" (Abstract ID:  961365)

***

Dartmouth College - Tuck School of Business' B. Espen Eckbo and Karin S. Thorburn, "Automatic Bankruptcy Auctions and Fire-Sales" (Abstract ID:  963184)

***

Max Planck Institutes Wolfgang Schoen, "Balance Sheet Tests or Solvency Tests - Or Both?" (Abstract ID:  963333)

***

Univ. of Chicago Law School's Douglas G. Baird, "Legal Approaches to Restricting Distributors to Shareholders: the Role of Fraudulent Transfer Law" (Abstract ID:  963335)

***

Univ. of Pennsylvania Law School's David A. Skeel Jr. and George Krause-Vilmar, "Recharacterization and the Nonhindrance of Creditors" (Abstract ID:  963338)

***

LSE's Paul L. Davies, "Directors' Creditor-Regarding Duties in Respect of Trading Decisions Taken in the Vicinity of Insolvency" (Abstract ID:  963340)

***

Jeffrey D. Van Niel and Nancy B. Rapoport, "'Retail Choice is Coming: Have you Hugged Your Utilities Lawyer Today? (Part 1)" (Abstract ID:  963912)

***

Jeffrey D. Van Niel and Nancy B. Rapoport: "'Retail Choice is Coming: Have you Hugged Your Utilities Lawyer Today? (Part 1)" (Abstract ID:  963913)

***

Seton Hall University School of Law's Stephen Lubben, "Business Liquidation" (Abstract ID:  964214)

***

Georgetown University Law Center's J. Gregory Sidak and the Kellogg School of Management's Daniel F. Spulber, "The Tragedy of Telecoms: Government Pricing of Unbundled Network Elements Under the Telecommunications Act of 1996" (Abstract ID:  964703)

***

Georgetown University Law Center's J. Gregory Sidak, "Why Did the U.S. Telecommunications Industry Collapse?" (Abstract ID:  964776)

***

Sabanci University's Mine H. Akso, "Going Concern Value Versus Abandonment Option Value in Debt Restructuring Firms" (Abstract ID:  965226)

***

Univ. of Chicago's Thomas Chaney, INSEE's David Sraer, and HEC's David Thesmar, "The Corporate Wealth Effect: From Real Estate Shocks to Corporate Investment" (Abstract ID:  965762)

***

Indiana University School of Law's Kenneth Glenn Dau-Schmidt, "The Changing Face of Collective Representation: The Future of Collective Bargaining" (Abstract ID:  967454)

***

Florida State University College of Law's Kelli A. Alces, "Enforcing Corporate Fiduciary Duties in Bankruptcy" (Abstract ID:  968006)

***

California State University-Northridge's Rafael Efrat, "Minority Entrepreneurs in Bankruptcy" (Abstract ID:  972656)

***

California State University-Northridge's Rafael Efrat, "The Tax Burden and the Propensity of Small Business Entrepreneurs to File for Bankruptcy" (Abstract ID:  976954)

***

Univ. of Virginia's David Mordkoff, "From Bonehead to Chaos: The Demise of the Right to Strike in the Airline Industry" (Abstract ID:  977581)

***

UT Austin School of Law's Henry T.C. Hu and Jay Lawrence Westbrook, "Abolition of the Corporate Duty to Creditors" (Abstract ID:  977582)

***

Texas Tech University's Stuart Gilliand and Baylor University's John D. Martin, "Corporate Governance Post-Enron: Effective Reforms, or Closing the Stable Door?" (Abstract ID:  977585)

***

UCLA School of Law's Lynn M. LoPucki and Joseph W. Doherty, "Bankruptcy Fire Sales" (Abstract ID: 980585)

***

Vanderbilt University School of Law's Robert K. Rasmussen, "The Story of Case v. Los Angeles Lumber Products: Old Equity Holders and the Reorganized Corporation" (Abstract ID:  980708)

***

Abstracts for each of these papers follows:

Continue Reading print this article | Posted By Steve Jakubowski In Recent Articles of Interest | 0 Comments | Permalink

Picks of the Month: Required Bankruptcy Reading for March 2007

More "Picks of the Month" ... This post covers my picks for March 2007.



Stay tuned for more picks from law journals and SSRN.

Continue Reading print this article | Posted By Steve Jakubowski In Recent Articles of Interest | 0 Comments | Permalink

Picks of the Month: Required Bankruptcy Reading for February 2007

Time to catch up on the ever-popular "Picks of the Month."  These picks are for February 2007.

***

Continue Reading print this article | Posted By Steve Jakubowski In Recent Articles of Interest | 0 Comments | Permalink

Recent Bankruptcy-Related Articles of Interest Available for Downloading from SSRN

The following bankruptcy-related scholarly papers, arranged by SSRN abstract ID number, can be downloaded from the Social Science Research Network website:

***

 

Boalt Hall School of Law's Peter S. Menell: Bankruptcy Treatment of Intellectual Property Assets: an Economic Analysis (Abstract ID: 969521)

***

Florida State Univ. College of Law's Kelli A. Alces: "Enforcing Corporate Fiduciary Duties in Bankruptcy." (Abstract ID: 968006)

***

Seton Hall Univ. School of Laws Stephen Lubben: "Delaware's Irrelevance" (Abstract ID: 967892)

***

George Mason Univ. School of Law's David E. Bernstein, "Expert Witnesses, Adversarial Bias, and the (Partial) Failure of the Daubert Revolution" (Abstract ID: 963461)

***

U.S. DOJ's Gregory J. Werden: "The Admissibility of Expert Economic Testimony in Antitrust Cases" (Abstract ID: 956397)

***

Michael Nwogugu: "Constitutionality of US Bankruptcy Code Preemption of Mortgage Foreclosure Statutes, and Related Economic Effects" (Abstract ID: 955914)

***

NYU School of Law's Barry E. Adler: "The Questionable Axiom of Butner v. United States" (Abstract ID: 954153)

***

Loyola Univ. of Chicago's Spencer Weber Waller and Brooklyn Law School's Neil B. Cohen: "Taking Pops Ups Seriously: The Jurisprudence of the Infield Fly Rule" (Abstract ID: 949539

***

Univ. of Houston Law Center's Nancy B. Rapoport: "Avoiding Judicial Wrath: The Ten Commandments for Bankruptcy Practitioners" (Abstract ID: 940769

***

Washington and Lee University School of Law's Doug Rendleman: "A Cap on the Defendant's Appeal Bond?: Punitive Damages Tort Reform" (Abstract ID: 938784)

***

Univ. of Houston Law Center's Nancy B. Rapoport: "The Need for New Bankruptcy Ethics Rules: How Can 'One Size Fit All' Fit Anybody?" (Abstract ID: 939448

***

Abstracts for each of these papers follows:

Continue Reading print this article | Posted By Steve Jakubowski In Recent Articles of Interest | 0 Comments | Permalink

Recent Bankruptcy Finance-Related Articles of Interest Available for Downloading from SSRN

The following bankruptcy finance-related working papers, arranged by abstract ID number, can be downloaded from the Social Science Research Network:


***

Santa Clara University's Yongtae Kim and Oklahoma State University's Sandeep Nabar: "Bankruptcy Probability Changes and the Differential informativeness of Bond Upgrades and Downgrades" (Abstract ID: 960751)

***

Univ. of Minnesota's Paul Pover and Rakdeep Singh: "Sale-Backs in Bankruptcy" (Abstract ID: 956211):

***

NYU School of Law's (and former classmate) Barry E. Adler: "Game-Theoretic Bankruptcy Valuation" (Abstract ID: 954147)

***

Univ. of Westminster's John Flood: "The Vultures Fly East: The Creation and Globalization of the Distressed Debt Market" (Abstract ID: 949581)

*** 

Univ. of Arizona's Andrew Zhang: "Distress Risk Premia in Stock and Bond Returns" (Abstract ID: 947844)

***

Rice University's Evgeny Lyandres and George Mason University's Alexei Zhdanov: "Investment Opportunities and Bankruptcy Prediction" (Abstract ID: 946240)

***

Univ. of Minnesota's Timothy J. Kehoe and UCLA's David K. Levine: "Bankruptcy and Collateral in Debt Constrained Markets" (Abstract ID: 940605)

***

Univ. of Verona's Andrea Gamba and Daniele Poiega; Univ. of Navarra's Mamen Aranda: "Investment and Credit Risk: A Structural Approach" (Abstract ID: 945968) 

***

Univ. of Chicago's Arthur G. Korteweg: "The Costs of Financial Distress across Industries" (Abstract ID: 945425

***

UC San Diego's Michelle J. Waite: "Abuse or Protection?" (Abstract ID: 944916)

***

NYU's Edward I. Altman and Brent Pasternack: "Defaults and Returns in the High Yield Bond Market: The Year 2005 in Review and Market Outlook" (Abstract ID: 943326)

***

The inset graph is taken from a report to the FDIC Board of Directors dated May 9, 2006, entitled Economic Conditions and Emerging Risks in Banking, and is used to support the following point:

Improvement of the credit default settlement process is vital. Because of the growth in credit derivative contracts, market anomalies have occurred when corporations default or declare bankruptcy. A prime example is how corporate bonds of Delphi Corp. actually increased in value as traders bid up the price of bonds in order to physically settle credit derivative contracts.  Industry participants are committed to implementing new procedures for settlements following a credit event, providing for net cash settlement at a single auction-based price.

***

Abstracts for each of these papers follow:

Continue Reading print this article | Posted By Steve Jakubowski In Recent Articles of Interest | 0 Comments | Permalink

Recent Comparative Bankruptcy-Related Articles of Interest Available for Downloading from SSRN

The following comparative bankruptcy-related papers, arranged by abstract ID number, can be downloaded from the Social Science Research Network:

Inst. for Macroeconomic Analysis and Development's Arjana Brezigar Masten and Univ. of Ljubljana's Igor Masten: "Comparison of Parametric, Semi-Parametric and Non-Parametric Methods in Bankruptcy Prediction" (Abstract ID: 967637)

***

York University Law School's Iain D.C. Ramsay: "Comparative Consumer Bankruptcy" (Abstract ID: 958190)

***

Norwegian University of Science and Technology's Einar Matson: "New Technology-Based Firms: Their Failure Rates and Reasons for Failures." (Abstract ID: 942196)

***

Univ. of Westminster's John Flood and Univ. of Olswang's Eleni Skordaki: "Normative Bricolage: Informal Rule Making by Accountants and Lawyers in Mega Insolvencies." (Abstract ID: 949895)

***

World Bank Group's Simeon Djankov and Caralee McLiesh; Harvard University's Oliver Hart and Andrei Shleifer: "Debt Enforcement Around the World." (Abstract ID: 953000)

***

University College London's Riz Mokal: "Contractarianism, Contractualism, and the Law of Corporate Insolvency." (Abstract ID: 946403):

***

Catholic University of Louvain's Juan D. Moreno-Ternero: "The Proportional rule of multi-issue bankruptcy problems." (Abstract ID: 945082)

***

Univ. of Bocconi's Pietro Garibaldi: "Hiring Freeze and Bankruptcy in Unemployment Dynamics" (Abstract ID: 928809)

***

Aachen University's Wolfgang Breuer and Univ. of Braunschweig's Marc Gurtler: "Coherent Banking Capital and Optimal Credit Portfolio Structure." (Abstract ID:  942742)

***

Clifford Chance LLP's Tomas Richter: "One Flight over Czech Security: Priorities and Other Monsters of Post-Transformation Debtor/Creditor Law." (Abstract ID: 941119)

***

London Business School's Viral V. Acharya, Univ. of Michigan's Sreedhar T. Bharath, and National Univ. of Singapore's Anand Srinivasan: "Does Industry-Wide Distress Affect Defaulted Firms? Evidence from Creditor Recoveries." (Abstract ID: 442901)

***

Universidad Technologica de Bolivar's Ignacio Velez-Pareja and University of the Andes' Patricia Rojas: "Some Evidence on Financial Distress Costs and Their Effect on Cash Flows." (Abstract ID: 939731)

***

The inset photographs are of London's Carey Street Bankruptcy Court, located in the Sir Thomas More Building, just down the road from London's main Royal Courts of Justice complex.  This Covent Garden web guide provides the following interesting background to the bankruptcy court and the street -- once known as "Queer Street" -- on which it resides:

Continue Reading print this article | Posted By Steve Jakubowski In Recent Articles of Interest | 0 Comments | Permalink

Picks of the Month: Required Bankruptcy Reading for January 2007

More "Picks of the Month" ...  This post covers my picks for January 2007:

The inset photograph, of course, is of Barack Obama, the first choice of many U of C law profs for president in the upcoming election, reading not his own book, but a far better one, Doris Goodwin's highly acclaimed "Team of Rivals: The Political Genius of Abraham Lincoln."

Continue Reading print this article | Posted By Steve Jakubowski In Recent Articles of Interest | 0 Comments | Permalink

Picks of the Month: Required Bankruptcy Reading for December 2006

More catch up on the "Picks of the Month." This post covers my picks for December 2006:

***

 

Continue Reading print this article | Posted By Steve Jakubowski In Recent Articles of Interest | 0 Comments | Permalink

Recent BAPCPA-Related Articles of Interest Available for Downloading from SSRN

The following BAPCPA-related papers, arranged by abstract ID number, can be downloaded from the Social Science Research Network:

Federal Reserve Bank's Astrid Andrea Dick and Andreas Lehnert: "Personal Bankruptcy and Credit Market Competition" (Abstract ID: 957778)

***

Santa Clara Univ. School of Law's Gary Neustadter: "Yellow Pages and Web Site Advertising By Consumer Bankruptcy Attorneys After BAPCPA" (Abstract ID: 957893)

***   

Cardozo Law School's David Gray Carlson: "Means Testing: The Failed Bankruptcy Revolution of 2005" (Abstract ID:956158)

***

Univ. of Mary Washington's Bradley Hansen and American University's Mary Hansen: "Legal Rules and Bankruptcy Rates: Historical Evidence from the States" (Abstract ID: 954393)

***  

Univ. of Illinois College of Law's Robert M. Lawless and Harvard Law School's Elizabeth Warren: "Shrinking the Safety Net: The 2005 Changes in U.S. Bankruptcy Law" (Abstract ID: 949629)

***

Univ. of Arizona College of Law's Jean Braucher: "The Challenge to the Bench and Bar Presented by the 2005 Bankruptcy Act: Resistance Need Not be Futile" (Abstract ID: 947930)

***

UC San Diego's Michelle J. White: "Abuse or Protection?" (Abstract ID: 944916)

***

Adam Levitin: "Priceless? The Costs of Credit Card Merchant Restraints" (Abstract ID: 944278)

***

Univ. of Illinois College of Law's Robert M. Lawless: "The Relationship Between Nonbusiness Bankruptcy Filings and Various Measure of Consumer Debt" (Abstract ID: 934798)

***

UT Austin School of Law's Ronald J. Mann: "Credit Card Policy in a Globalized World" (Abstract ID: 705141)

***

FYI, the graph is taken from a July 2006 Bulletin of the Federal Reserve Board, under the subheading entitled, The New Bankruptcy Law and Its Effect on Credit Card Loans.

***

Abstracts for each of these papers follows:

Continue Reading print this article | Posted By Steve Jakubowski In Recent Articles of Interest | 0 Comments | Permalink

Picks of the Month: Required Bankruptcy Reading for November 2006

More "Picks of the Month" ...  This post includes published articles from November, 2006 that might be of interest to the bankruptcy practitioner, scholar, student, and Judge:

***

Continue Reading print this article | Posted By Steve Jakubowski In Recent Articles of Interest | 0 Comments | Permalink

Picks of the Month: Required Bankruptcy Reading for October 2006

Time to catch up on the ever-popular "Picks of the Month."  This post covers my picks for October 2006:

***

 

Continue Reading print this article | Posted By Steve Jakubowski In Recent Articles of Interest | 0 Comments | Permalink

Recent Bankruptcy Finance-Related Articles of Interest Available for Downloading from SSRN

The following finance bankruptcy-related papers, arranged by abstract ID number, can be downloaded from the Social Science Research Network:

***

Rice University's Evgeny Lyandres and George Mason University's Alexei Zhdanov: "Investment Opportunities and Bankruptcy Prediction." (Abstract ID: 946240)

***

Univ. of Minnesota's Timothy J. Kehoe and UCLA's David K. Levine: "Bankruptcy and Collateral in Debt Constrained Markets" (Abstract ID: 940605)

***

Univ. of Chicago's Arthur G. Korteweg: "The Costs of Financial Distress across Industries" (Abstract ID: 945425)

***

NYU's Edward I. Altman and Brent Pasternack: "Defaults and Returns in the High Yield Bond Market: The Year 2005 in Review and Market Outlook" (Abstract ID: 943326) 

***

IKB Deutsche Industriebank AG's Lutz Hahnenstein and Univ. of Regensburg's Klaus Roder: "Who Hedges More When Leverage is Endogenous? A Testable Theory of Corporate Risk Management under General Distributional Conditions" (Abstract ID: 934589)

***

 IKB Deutsche Industriebank AG's Lutz Hahnenstein and Univ. of Regensburg's Klaus Roder: "Corporate Hedging and Capital Structure Decisions: Towards an Integrated Framework for Value Creation" (Abstract ID: 934580)

***

Univ. of York's Marco Realdon: "Pricing the Credit Risk of Secured Debt and Financial Leasing" (Abstract ID: 934616)

***

 IKB Deutsche Industriebank AG's Lutz Hahnenstein and Univ. of Regensburg's Klaus Roder: "The Minimum Variance Hedge and the Bankruptcy Risk of the Firm" (Abstract ID: 934578)

***

Abstracts for each of these papers follows:

Continue Reading print this article | Posted By Steve Jakubowski In Recent Articles of Interest | 0 Comments | Permalink

Recent Bankruptcy Business-Related Articles of Interest Available for Downloading from SSRN

The following bankruptcy business-related papers, arranged by abstract ID number, can be downloaded from the Social Science Research Network:

***

Stern Stewart & Co.'s Bennett Stewart: "The Real Reasons Enron Failed" (Abstract ID: 943547)

***

Arizona State University's Dahlia Robinson: "Tax Service Fees and Auditor Independence: Evidence from Going-Concern Opinions Prior to Bankruptcy Filings" (Abstract ID: 946418)

***

Univ. of Bocconi's Pietro Garibaldi: "Hiring Freeze and Bankruptcy in Unemployment Dynamics"  (Abstract ID:  944869)

***

Federal Reserve Board's Beth Anne Wilson, Daniel M. Covitz, and Song Han: "Are Longer Bankruptcies Really More Costly?" (Abstract ID: 943776)

***

The College of Management - School of Law's Omer Tene: "Revisiting the Creditors' Bargain: The Entitlement to the Going-Concern Surplus in Corporate Bankruptcy Reorganizations" (Abstract ID: 943066

***

Trinity University's Barry T. Hirsch: "Wage Determination in the U.S. Airline Industry: Union Power under Product Market Constraints" (Abstract ID:  941127)

***

London Business School's Viral V. Acharya, Univ. of Michigan's Sreedhar T. Bharath, and National Univ. of Singapore's Anand Srinivasan: "Does Industry-wide Distress Affect Defaulted Firms? Evidence from Creditor Recoveries" (Abstract ID:  940630

***

Yale Law School's Alan Schwartz: "Valuation of Collateral" (Abstract ID:  938709)

***

Adam Levitin: "Finding Nemo: Rediscovering the Virtues of Negotiability in the Wake of Enron" (Abstract ID: 936253)

***

Virginia Polytechnic University's John C. Easterwood and Vanderbilt University's Charu G. Raheja: "CEOs vs. Directors: Who Calls the Shots When Firms Underperform?" (Abstract ID: 931037)

***

Chapman Univ. School of Law's Daniel B. Bogart: "Unexpected Gifts of Chapter 11: The breach of a Director's Duty of Loyalty Following Plan Confirmation and the Postconfirmation Jurisdiction of Bankruptcy Courts" (Abstract ID: 930161)

***

Indiana University's Derek Oler and Univ. of Kansas's Kevin R. Smith: "The Characteristics and Fate of 'Take Me Over' Firms" (Abstract ID: 930389)

***

Abstracts for each of these papers follows:

Continue Reading print this article | Posted By Steve Jakubowski In Recent Articles of Interest | 0 Comments | Permalink

Recent Comparative Bankruptcy-Related Articles of Interest Available for Downloading from SSRN

The following comparative bankruptcy-related papers, arranged by abstract ID number, can be downloaded from the Social Science Research Network:

***

Federal Reserve Bank of Atlanta's Robert A. Eisenbeis: "Home Country versus Cross-Border Negative Externalities in Large Banking Organization Failure and How to Avoid Them" (Abstract ID: 947093)

***

Univ. of Verona's Andrea Gamba, Mamen Aranda, and Danielle Poiega: "Investment and Credit Risk: A Structural Approach" (Abstract ID: 945968)

***

Politécnico Grancolombiano's Ignacio Velez-Parerja and Univ. of the Andes's Patricia Rojas: "Some Evidence on Financial Distress Costs and Their Effect on Cash Flows" (Abstract ID: 939731)

***

Cornell University's Robert T. Masson, Yale School of Management's Heather Tookes, and Samsung's Yaejong Um: "Firm Diversification and Equilibrium Risk Pooling: The Korean Financial Crisis as a Natural Experiment." (Abstract ID: 938274)

***

Clifford Chance LLP's Tomas Richter: "Two (Further) Possible Explanations of the Secured Debt Puzzle: A Note." (Abstract ID: 929692)

***

Boston University School of Law's Richard Thompson Ainsworth: "A Comparative Assessment of EU, UK, French, Australian and Japanese Responses to Auditor Independence: The Case of Non-Audit Tax Services." (Abstract ID: 928621)

***

Catholic University of Louvain's Juan D. Moreno-Ternero: "Proportionality and Non-Manipulability in Bankruptcy Problems." (Abstract ID: 927763)

***

Politechnico Grancolombiano's Ignacio Velez-Pareja and Univ. of Andes' Patricia Rojas: "Some Evidence of Financial Distress Costs (Alguna Evidencia sobre los Costos de Dificultadas Financieras)." (Abstract ID: 927328)

***

University of Münster's Alexander Dilger: "Forced to Make Mistakes: Reasons for Complaining about Bebchuk's Scheme and Other Market-Oriented Insolvency Procedures." (Abstract ID: 926086)

***

Catholic University of Leuven's Nico Dewaelheyns: "Corporate Failure Prediction Modeling: Distorted by Business Groups' Internal Capital Markets?" (Abstract ID: 924033

***

World Bank's Xavier Gine and Inessa Love: "Do reorganization costs matter for efficiency?  Evidence from a bankruptcy reform in Colombia." (Abstract ID: 923277)

***

Max Planck School of Economics's Eva-Maria Steiger: "Ex-Ante vs. Ex-Post Efficiency in Personal Bankruptcy Proceedings." (Abstract ID: 921540)

***

Univ. of Kaiserslautern's Holger Kraft and Mogens Steffensen: "An ABC Portfolio Choice: Asset Allocation with Bankruptcy and Contagion." (Abstract ID: 921182)

***

University of East Anglia's Andreas Stephan: "The Bankruptcy Wildcard in Cartel Cases." (Abstract ID: 912169)

***

Stockholm School of Economics's Stefano Rossi and Stockholm University's Nicola Gennaioli: "Bankruptcy, Creditor Protection and Debt Contracts." (Abstract ID: 891154)

***

Univ. of Osnabruck's Jochen Bigus and the Max Planck Institute of Economics's Eva-Maria Steiger: "When it Pays to be Honest: How a Variable Period of Good Conduct can Improve Incentives in Personal Bankruptcy Proceedings." (Abstract ID: 868365)

***

U.S. Court of International Trade's Robert F. Weber: "Can the Sauvegarde Reform Save French Bankruptcy Law?: A Comparative Look at Chapter 11 and French bankruptcy Law from an Agency Cost Perspective." (Abstract ID: 802944)

***

Abstracts for each of these papers follows:

Continue Reading print this article | Posted By Steve Jakubowski In Recent Articles of Interest | 0 Comments | Permalink

Recent Bankruptcy History-Related Articles of Interest Available for Downloading from SSRN

The following bankruptcy history-related papers, arranged by abstract ID number, can be downloaded from the Social Science Research Network:

University of Wisconsin's Bernard Trujillo: "The Wisconsin Exemption Clause Debate of 1846: An Historical Perspective on the Regulation of Debt."  (Abstract ID: 925014)

***

Federal Reserve Bank's Kenneth Garbade: "The Evolution of Repo Contracting Conventions in the 1980s."  (Abstract ID: 918498)

***

FDIC's Michael Krimminger: "The Evolution of U.S. Insolvency Law for Financial Market Contracts."  (Abstract ID:  916345)

***

Abstracts for each of these papers follows:

Continue Reading print this article | Posted By Steve Jakubowski In Recent Articles of Interest | 1 Comments | Permalink

Recent BAPCPA-Related Articles of Interest Available for Downloading from SSRN

The following BAPCPA-related papers, arranged by abstract ID number, can be downloaded from the Social Science Research Network:

Univ. Of Florida's Amy K. Yarbrough and Jacksonville State University's Robert J. Landry III: "Navigating the Social Safety Net: A State-level Analysis of the Relationships Between Medicaid, the Uninsured and Consumer Bankruptcy."  (Abstract ID: 932940)

***

Univ. of Illinois College of Law's Charles Jordan Tabb: "Consumer Bankruptcy Filings: Trends and Indicators."  (Abstract ID: 931172)

***

Federal Reserve Bank's Mark J. Furletti: "Consumer Bankruptcy: How Unsecured Lenders Fare." (Abstract ID: 927088)

***

Cardozo Law School's David Gray Carlson: "Cars in Chapter 13 After 2005 Amendments to the Bankruptcy Code." (Abstract ID: 925567)

***

University of Pennsylvania's Michael Gene Housman: "Senior Power and the Medicare Trust Fund Crisis." (Abstract ID: 925137)

***

University of Wisconsin School of law's Bernard Trujillo: "Regulating Bankruptcy Abuse: An Empirical Study of Consumer Exemption Cases." (Abstract ID: 925016)

***

UNC-Chapel Hill School of Law's Melissa B. Jacoby: "Bankruptcy Reform and Homeownership Risk."  (Abstract ID: 918006)

***

Abstracts for each of these papers follows:


Continue Reading print this article | Posted By Steve Jakubowski In Recent Articles of Interest | 0 Comments | Permalink

Recent Bankruptcy Finance-Related Articles of Interest Available for Downloading from SSRN

The following finance bankruptcy-related papers, arranged by abstract ID number, can be downloaded from the Social Science Research Network:

***

Univ. of Pennsylvania Law School's David A. Skeel, Jr. and Univ. of San Diego School of Law's Frank Partnoy: "The Promise and Perils of Credit Derivatives." (Abstract ID: 929747)

***

Harvard University's John Y. Campbell, Brandeis University's Jens Hilscher, and Duquesne Capital Management LLC's Jan Szilagyi: "In Search of Distress Risk." (Abstract ID: 917567)

***

Arizona State University's Michael G. Hertzel and Zhi Li, USC's Micah S. Officer, and NYU's Kimberly J. Rodgers: "Inter-Firm Linkages and the Wealth Effects of Financial Distress along the Supply Chain." (Abstract ID: 912795)

***

Matthias Hild and Jordan Mitchell: "Qwest Communications Bond-Swap Offer: Explanatory Note." (Abstract ID: 912128)

***

Abstracts for each of these papers follows:

 

Continue Reading print this article | Posted By Steve Jakubowski In Recent Articles of Interest | 0 Comments | Permalink

Recent Business Bankruptcy-Related Articles of Interest Available for Downloading from SSRN (October 2006)

The following business bankruptcy-related papers, arranged by abstract ID number, can be downloaded from the Social Science Research Network:

***

Univ. of Chicago Business School's Joshua D. Rauh: "Risk Shifting versus Risk management: Investment Policy in Corporate Pension Plans."  (Abstract ID: 931237)

***

Univ. of Cambridge's Geoff Meeks and J.G. Tulip Meeks: "Self-fulfilling Prophecies of Failure: The Endogenous Balance Sheets of Distressed Companies." (Abstract ID: 931096)

***

Bartlit Beck Herman Palenchar & Scott LLP's J.B. Heaton: "Solvency Tests."  (Abstract ID: 931026)

***

Chapman University School of Law's Daniel B. Bogart: "Unexpected Gifts of Chapter 11: The Breach of a Director's Duty of Loyalty Following Plan Confirmation and the Postconfirmation Jurisdiction of Bankruptcy Courts." (Abstract ID: 930161)

***

University of Chicago Law School's M. Todd Henderson: "Paying CEOs in Bankruptcy: Executive Compensation When Agency Costs are Low."  (Abstract ID: 927081)

***

Ohio State University Dept. of Finance's Bernadette A. Milton: "How has CEO Turnover Changed? Increasingly Performance Sensitive Boards and Increasingly Uneasy CEOs" (Abstract ID: 924751)

***

Yale Law School's Yair Jason Listokin: "Paying for Performance in bankruptcy: Why CEOs Should be Compensated with Debt." (Abstract ID: 924569)

***

Seton Hall University School of Law's Stephen Lubben: "Choosing Corporate Bankruptcy Counsel." (Abstract ID: 781367)

***

Abstracts for each of these papers follows:

 

Continue Reading print this article | Posted By Steve Jakubowski In Recent Articles of Interest | 0 Comments | Permalink

Recent Bankruptcy-Related Articles of Interest Available for Downloading from SSRN

The following bankruptcy-related scholarly papers, arranged by SSRN abstract ID number, can be downloaded from the Social Science Research Network website:

***

Univ. of Texas Law School's Ronald J. Mann: "The Supreme Court, the Solicitor General, and Bankruptcy: BFP v. Resolution Trust Company." (Abstract ID: 931288)

***

Vanderbilt University School of Law's Robert K. Rasmussen: "Creating a Calamity."  (Abstract ID: 930182)

***

University of Arkansas School of Law's Susan A. Schneider: "Bankruptcy Reform and Family Farmers: Correcting the Disposable Income Problem."  (Abstract ID: 928255)

***

University of Arkansas School of Law's Susan A. Schneider: "Who Gets the Check: Determining When Federal Farm Program Payments are Property of the Bankruptcy Estate."  (Abstract ID: 928254)

***

Syracuse University College of Law's Gregory L. Germain: "Discharging Income Tax Liabilities in Bankruptcy: A Challenge to the New Theory of Strict Construction for Scriveners' Errors."  (Abstract ID: 925840)

***

University of Wisconsin Law School's Bernard Trujillo: "Self-Organizing Legal Systems: Precedent and Variation in Bankruptcy."  (Abstract ID: 924673)

***

Chapman University School of Law's Daniel B. Bogart: "Resisting the Expansion of Bankruptcy Court Power under Section 105 of the Bankruptcy Code: The All Writs Act and an Admonition from Chief Justice Marshall." (Abstract ID: 922108)

***

Chicago-Kent College of Law's Evelyn Brody: "The Charity in Bankruptcy and Ghosts of Donors Past, Present, and Future." (Abstract ID: 918120)

***

UCLA School of Law's Lynn M. LoPucki and Joseph W. Doherty: "Delaware Bankruptcy: Failure in the Ascendancy." (Abstract ID: 906834)

***

Abstracts for each of these papers follows:

 

Continue Reading print this article | Posted By Steve Jakubowski In Recent Articles of Interest | 0 Comments | Permalink

Picks of the Month: Required Bankruptcy Reading for September 2006

Here are the "Picks of the Month" for September 2006, my monthly guide to recently published articles of relevance to the bankruptcy practitioner, scholar, student, and Judge:

***

Continue Reading print this article | Posted By Steve Jakubowski In Recent Articles of Interest | 0 Comments | Permalink

Picks of the Month: Required Bankruptcy Reading for August 2006

Here are the "Picks of the Month" for August 2006, my monthly guide to recently published articles of relevance to the bankruptcy practitioner, scholar, student, and Judge:

***

Continue Reading print this article | Posted By Steve Jakubowski In Recent Articles of Interest | 0 Comments | Permalink

Recent Comparative Bankruptcy-Related Articles of Interest Available for Downloading from SSRN

The following comparative bankruptcy-related papers, arranged by abstract ID number, can be downloaded from the Social Science Research Network:

***

Tillberg University's Harry Huizinga, Int'l Monetary Fund's Luc Laeven, and Free Univ. of Brussels's Gaetan Nicodeme: "Capital Structure and International Debt Shifting."  (Abstract ID: 918460)

***

Univ. of Cantabria's Carlos Lopez Gutierrez, Myriam Garcia Olalla, and Begoña Torre Olmo: "Economic Valuation of the Efficiency of Bankruptcy Systems." (Abstract ID: 917784)

***

Nottingham Trent University's Adrian Walters and Univ. of Aberdeen's Donna W. McKenzie Skene: "Consumer Bankruptcy Law Reform in Scotland, England and Wales." (Abstract ID: 914552)

***

Univ. of N. Dakota School of Law's Jason Jeremy Kilborn: "Out with the New, In with the Old: As Sweden Aggressively Streamlines its Consumer Bankruptcy System, Have U.S. Reformers Fallen Off the Learning Curve?" (Abstract ID: 913096)

***

Anuradha Sen: "The Bankruptcy Laws: Comparing Russia, USA, Canada, and UK." (Abstract ID: 912931)

***

Catholic Univ. of Leuven's Nico Dewaelheyns and Cynthia Van Hulle: "Legal Reform and Aggregate Small and Micro Business Bankruptcy Rates: Evidence from the 1997 Belgian Bankruptcy Code." (Abstract ID: 905196)

***

York University's Iain D.C. Ramsay: "Functionalism and Political Economy in the Comparative Study of Consumer Insolvency: An Unfinished Story from England and Wales." (Abstract ID: 900419)

 ***

Univ. of Bologna's Luca Enriques and Vienna University's Martin Gelter: "How the Old World Encountered the New One: Regulatory Competition and Cooperation in the European Corporate and Bankruptcy Law." (Abstract ID: 887164)

***

Bard College's Guillermo Le Fort: "Financial Crisis in Developing Countries and Structural Weaknesses of the Financial System." (Abstract ID: 884718)

***

IMF Researcher Se-Jik Kim: "Corporate Leverage, Bankruptcy, and Output Adjustment in Post-Crisis East Asia." (Abstract ID: 880670)

***

Harvard University's Kenneth Rogoff and Jeromin Zettelmeyer: "Early Ideas on Sovereign Bankruptcy Reorganization: A Survey." (Abstract ID: 879533)

***

Harvard University's Kenneth Rogoff and Jeromin Zettelmeyer: "Bankruptcy Procedures for Sovereigns: A History of Ideas, 1976-2001." (Abstract ID: 879911)

***

Abstracts for each of these papers follows:

Continue Reading print this article | Posted By Steve Jakubowski In Recent Articles of Interest | 1 Comments | Permalink

Recent Bankruptcy History-Related Articles of Interest Available for Downloading from SSRN

The following bankruptcy history-related papers, arranged by abstract ID number, can be downloaded from the Social Science Research Network:

***

American University's Mary Hansen and Univ. of Mary Washington's Bradley Hansen: "Path Dependence in the Development of U.S. Bankruptcy Law, 1880-1938." (Abstract ID: 909294)

***

Rutgers University's Paul J. Miranti Jr. and Drexel University's Nandini Chandar: "Information, Institutions and Agency: The Crisis of Railroad Finance in the 1890s and the Evolution of Corporate Oversight Capabilities." (Abstract ID: 899415)

***

UW-Madison's Jodi L. Bellovary and Marquette University's Don E. Giacomino and Michael D. Akers: "A Review of Bankruptcy Prediction Studies: 1930 to Present." (Abstract ID: 892160)

***

Abstracts for each of these papers follow:

Continue Reading print this article | Posted By Steve Jakubowski In Recent Articles of Interest | 0 Comments | Permalink

Picks of the Month: Required Bankruptcy Reading for July 2006

Here are the "Picks of the Month" for July 2006, my monthly guide to recently published articles of relevance to the bankruptcy practitioner, scholar, student, and Judge:

***

Continue Reading print this article | Posted By Steve Jakubowski In Recent Articles of Interest | 0 Comments | Permalink

Recent Bankruptcy Finance-Related Articles of Interest Available for Downloading from SSRN

The following bankruptcy finance-related working papers, arranged by abstract ID number, can be downloaded from the Social Science Research Network:

***

Brandeis University's Jens Hillscher and Harvard University's Jan Szilagyi: "In Search of Distress Risk." (Abstract ID: 917567)

***

FDIC's Michael Kimminger: "The Evolution of U.S. Insolvency Law for Financial Market Contracts." (Abstract: 916345)

***

Seton Hall Univ. School of Law's Stephen Luben: "Credit Derivatives & the Future of Chapter 11." (Abstract ID: 906613)

***

Stockholm School of Economics's Stefano Rossi and Stockholm University's Nicola Gennaoli: "Bankruptcy, Creditor Protection and Debt Contracts." (Abstract ID: 891154)

***

Northwestern University's Vadim Linetsky: "Pricing Equity Derivatives Subject to Bankruptcy." (Abstract ID: 889973)

***

University of Mainz's Gunther Friedl: "Discussion of 'Optimal Debt Service: Straight vs. Convertible'." (Abstract ID: 899299)

***

Penn. State Univ.-Berks's Khaled Abdou and Univ. of New Orleans Oscar Varela: "The Role of Venture Capitalists in Bankruptcy." (Abstract ID: 891642)

***

University of Aarhus's Peter Tind Larsen: "Default Risk, Debt Maturity and Levered Equity's Risk Shifting Incentives." (Abstract ID: 887441)

***

University of Chicago Law School's Kenneth W. Dam: "Credit Markets, Creditors' Rights and Economic Development." (Abstract ID: 885198)

***

Univ. of Georgia's Mark Dawkins and Linda Smith Bamber and SMU's Neil Battacharya: "Systematic Share Price Fluctuations after Bankruptcy Filings and the Investors who Drive Them." (Abstract ID: 881508)

***

Abstracts for each of these papers follow.  More importantly, thanks to all who expressed their condolences to me during the past week regarding my mom's recent passing.  Your support provided a source of much comfort to me.

Continue Reading print this article | Posted By Steve Jakubowski In Recent Articles of Interest | 0 Comments | Permalink

22 Recent Business Bankruptcy-Related Articles of Interest Available on SSRN

The following business bankruptcy-related articles, arranged by abstract ID number, are available for downloading from the Social Science Research Network:

***

Chapman University School of Law's Daniel B. Bogart: "Liability of Directors of Chapter 11 Debtors in Posession: 'Don't Look Back - Something May Be Gaining on You'." (Abstract ID: 918814)

***

ASU's Michael G. Hertzel and Zhi Li, USC's Micah S. Officer, and NYU's Kimberly J. Rodgers: "Inter-firm LInkages and the Wealth Effects of Financial Distress along the Supply Chain." (Abstract ID: 912795)

***

UCLA Law School's Lynn M. LoPucki and Joseph W. Doherty: "Rise of the Financial Advisors: An Empirical Study of the Division of Professional Fees in Large Bankruptcies." (Abstract ID: 913841)

***

Mathias Hild and University of Virginia's Matthew R. McBrady: "A Managerial Primer on the US Bankruptcy Code."  (Abstract ID 912038)

***

Bennett Stewart: "The Real Reasons Enron Failed." (Abstract ID: 911690)

***

3d Circuit Judicial Law Clerk Adam Levitin: "Finding Nemo: Rediscovering the Virtues of Negotiability in the Wake of Enron." (Abstract ID: 910571)

***

University of Virginia's Gerry Yeman and Marian Chapman Moore and UT-Austin's Geraldine R. Henderson: "Snibbie®: Spit Happens(B)." (Abstract ID: 910114)

***

Yair Jason Listokin: "Is Secured Debt Used to Redistribute Value from Tort Claimants in Bankruptcy? An Empirical Analysis."  (Abstract ID: 909225)

***

University of Virginia's Patricia H. Werhane and Julie Stocker: "Dow Corning Corportation(A): Breast Implant Design." (Abstract ID: 908143)

***

University of Virginia's Patricia H. Werhane:  "Dow Corning Corportation(B): Making A Decision." (Abstract ID: 908725)

***

University of Virginia's Patricia H. Werhane: "Dow Corning Corportation(C): Closure?" (Abstract ID: 908726)

***

UCLA School of Law's Lynn M. LoPucki and Joseph W. Doherty: "The Determinants of Professional Fees in Large Bankruptcy Reorganization Cases Revisted." (Abstract ID: 906184)

***

Seton Hall University School of Law's Stephen Lubben: "The Other Liquidation Decision."  (Abstract ID: 903399)

***

Univ. of Kentucky College of Law's Rutherford B. Campbell Jr. and Christopher W. Frost: "Managers' Fiduciary Duties in Financially Distressed Corporations: Chaos in Delaware (and Elsewhere)." (Abstract ID: 900904)

***

3d Circuit Judicial Law Clark Adam Levitin: "Rough Justice? The Nature and Limits of Equitable Subordination." (Abstract ID: 900444)

***

Lousiana State Univ.'s Susan Kalinka: "In Re Ehmann: Bankuptcy Court Decision Portends Problems for Manager-Managed LLCs." (Abstract ID: 894571)

***

Boston College's Mauricio Soto, Alicia H. Munnel, Francesca Golub-Sass, and Francis Vitagliano: "Why are Healthy Employers Freezing Their Pensions?" (Abstract ID: 893214)

***

Federal Reserve Board's Daniel M. Covitz, Song Han, and Beth Anne Wilson: "Are Longer Bankruptcies Really More Costly?" (Abstract ID: 891486)

***

NYU's Kimberly J. Rodgers, Indiana Univ.'s Randall A. Heron, and Univ. of Iowa's Erik Lie: "Financial Restructuring in Fresh Start Chapter 11 Reorganizations." (Abstract ID: 890693)

***

Michael Nwogugu: "Structural Changes in the US Retailing Industry and Legal, Economic and Strategy Implications for the US Real Estate Industry." (Abstract ID: 883568)

***

University of Virginina's Samuel E. Bodily and Robert F. Bruner: "Enron: 1986-2001." (Abstract ID: 302155)

***

Harvard Business School's Michael Jensen: "Active Investors, LBOS, and the Privatization of Bankruptcy." (Abstract ID: 244152)

***

Abstracts for each of these papers follow:

Continue Reading print this article | Posted By Steve Jakubowski In Recent Articles of Interest | 0 Comments | Permalink

Nineteen Recent BAPCPA-Related Articles of Interest Available on SSRN

Time to take a break from BAPCPA case law outlines to consider some interesting BAPCPA-related scholarly articles that are available for downloading from the Social Science Research Network (sorted by SSRN ID No):

***

University of Illinois College of Law's Robert M. Lawless: "Bankruptcy Filing Rates After a Major Hurricane."
(SSRN ID: 919861)

***

University of Iowa College of Law's Katherine M. Porter: "The Bright Side of BAPCPA." (SSRN ID: 919322)

***

UNC-Chapel Hill School of Law's Melissa B. Jacoby: "Bankruptcy Reform and Homeownership Risk." (SSRN ID: 918006)

***

University of Wisconsin School of Law's Bernard Trujillo: "Regulating Bankruptcy Abuse: An Empirical Study of Consumer Exemptions Cases." (SSRN ID: 914019)

***

University of Arizona College of Law's Jean Braucher: "A Fresh Start for Personal Bankruptcy Reform: The Need for Simplification and a Single Portal." (SSRN ID: 912561)

***

Univ. of Missouri School of Law's Michelle A. Cecil: "Bankruptcy Reform: What's Tax Got to Do With It?" (SSRN ID: 912263)

***

University of Wisconsin Law School's William C. Whitford: "A History of the Automobile Lender Provision of BAPCPA." (SSRN ID: 907086)

***

University of Illinois College of Law's Robert M. Lawless: "The Paradox of Consumer Credit."
(SSRN: 906868)

***

Federal Reserve Bank of Philadelphia's Robert M. Hunt: "Whither Consumer Credit Counseling." (SSRN ID: 905263)

***

N. D. Fisher: "The Effect of Unemployment Benefits, Welfare Benefits, and Other Income on Personal Bankruptcy." (SSRN ID: 904759)

***

Harvard Law School's Elizabeth Warren, UT-Austin Law School's Jay Lawrence Westbrook and Univ. of Mich. Law School's Teresa A. Sullivan: "Less Stigma or More Financial Distress: An Empirical Analysis of the Extraordinary Increase in Bankruptcy Fillings." (SSRN ID: 903355)

***

Univ. of Michigan's Dennis R. Capozza and UT-San Antonio's Thomas A. Thomson: "Subprime Transitions: Lingering or Malingering in Default?" (SSRN ID: 902882)

***

UT-Austin School of Law's Ronald J. Mann: "Bankruptcy Reform and the 'Sweatbox' of Credit Card Debt." (SSRN ID: 895408)

***

Univ. of Iowa College of Law's Katherine M. Porter and Ohio University's Deborah Thorne: "The Failure of Bankruptcy's Fresh Start." (SSRN ID: 894453)

***

Univ. of Nevada Las Vegas School of Law's Judge Bruce Markell: "The Sub Rosa Subchapter: Individual Debtors in Chapter 11 after BAPCPA." (SSRN ID: 893582)

***

Widener University School of Law's Juliet Moringielio: "Has Congress Slimmed Down the Hogs?: A Look at the BAPCPA Approach to Pre-Bankruptcy Planning." (SSRN ID:892034)

***

National Consumer Law Center's Deanne Loonin and Elizabeth Renuart: "Life and Debt: A Survey of Data Addressing the Debt Loads of Older Persons and Policy Recommendations." (SSRN ID: 885398)

***

NYU Law School's Karen Gross and Fordham Univ. School of Law's Susan Block Lieb: "Empty Mandate or Opportunity for Innovation? Pre-Petition Credit Counseling and Post-Petition Financial Management Education." (SSRN ID: 884487)

***

UT-Austin's Li Gan and Washington Univ.-St. Louis' Tarun Sabarwal: "A Simple Test of Adverse Events and Strategic Timing Theories of Consumer Bankruptcy." (SSRN ID: 847035)

***

Abstracts for each of these papers follow:

 

Continue Reading print this article | Posted By Steve Jakubowski In Recent Articles of Interest | 0 Comments | Permalink

Picks of the Month: Required Reading for June 2006

Here are the "Picks of the Month" for June 2006, my monthly guide to recently published articles of relevance to the bankruptcy practitioner, scholar, student, and Judge:

***

Continue Reading print this article | Posted By Steve Jakubowski In Recent Articles of Interest | 0 Comments | Permalink

Picks of the Month: Required Reading for May 2006

Here are the "Picks of the Month" for May 2006, a monthly guide to recently published articles of relevance to the bankruptcy practitioner, scholar, student, and Judge:

***

Continue Reading print this article | Posted By Steve Jakubowski In Recent Articles of Interest | 0 Comments | Permalink

Picks of the Month: Required Reading for April 2006

Here are the "Picks of the Month" for April 2006, our ever-popular guide to recently published articles of relevance to the bankruptcy practitioner, scholar, student, and Judge:

***

 

Continue Reading print this article | Posted By Steve Jakubowski In Recent Articles of Interest | 0 Comments | Permalink

Picks of the Month: Required Bankruptcy Reading for March 2006

With the help of the firm's summer interns, we're now able to catch up on our popular "Picks of the Month" feature.  This entry cites to bankruptcy-related articles published in March 2006.  Links are to We$tlaw:

***

Continue Reading print this article | Posted By Steve Jakubowski In Recent Articles of Interest | 0 Comments | Permalink

Everything You've Wanted to Know About Preferences But Were Afraid to Ask

Ran across a great publication recently, the Preference Quarterly Law Journal, an Atlanta-based email publication of Alston & Bird's Mark Duedall (who also is an editor of Norton's Bankruptcy Law and Practice, former FSU law professor, and diehard FSU fan) and Nelson Mullins Riley & Scarborough's Byron Starcher.

© Steve Jakubowski 2006

There's much to ponder in this latest publication alone, the 2nd of the Journal's 2nd publishing season. If you want to subscribe, send an email to preferencequarterly@nelsonmullins.com and ask to be added to the list.

Best of luck, guys! Let's hope we're all around to celebrate the Journal's 50th anniversary!

While you're browsing for preference-related publications, be sure to grab another great resource that's hot off the press: The Preference Defense Handbook: The Circuits Compared, an ABI publication written by Barnes & Thornburg's Debbie Thorne and Moore & Van Allen's David Wheeler.

print this article | Posted By Steve Jakubowski In Recent Articles of Interest | 0 Comments | Permalink

17 Bankruptcy-Related Working Papers Available for Downloading from SSRN

The following bankruptcy-related working papers can be downloaded from the Social Science Research Network:

***

NYU's Alberto Bisin & Northwestern's Adriano A. Rampini: "Exclusive Contracts and the Institution of Bankruptcy." (Abstract ID: 886733)

***

UCLA School of Law's Daniel J. Bussel: "Creditors' Committees as Estate Representatives in Bankruptcy Litigation." (Abstract ID: 878485)

***

Univ. of Texas Law School's Jane M. Cohen: "Of Waterbanks, Piggybanks, and Bankruptcy: Changing Directions in Water Law." (Abstract ID: 874767)

***

Univ. of Chicago Law School's Kenneth W. Dam: "Credit Markets, Creditors' Rights and Economic Development." (Abstract ID: 885198)

***

Univ. of Georgia's Mark Dawkins & Linda Smith Bamber & SMU's Neil Bhattacharya: "Systematic Share Price Fluctuations after Bankruptcy Filings and the Investors who Drive Them." (Abstract ID: 881508)

***

Nottingham Business School's Nicola Ficarella & Michael Gavirdis: "Enron & Parmalat two twins parables." (Abstract ID: 886921)

***

UNC-Chapel Hill Law School's Melissa B. Jacoby: "Fast, Cheap, and Creditor-Controlled: Is Corporate Reorganization Failing?" (Abstract ID: 887523)

***

3d Circuit Judicial Law Clerk Adam Levitin: "Toward a Federal Common Law of Bankruptcy: Judicial Lawmaking in a Statutory Regime." (Abstract ID: 889462)

***

Wichita State Univ.'s Stanley D. Longhofer and Kansas St. Univ.'s Stephen R. Peters: "Protection for Whom?" (Abstract ID: 875362)

***

UCLA School of Law's Lynn M. LoPucki: "Where Do You Get Off? A Reply to Courting Failure's Critics." (Abstract ID: 888325)

***

Columbia Univ. Law School's Edward R. Morrison and Davis Polk's Joerg Riegel: "Financial Contracts and the New Bankruptcy Code: Insulating Markets from Bankrupt Debtors and Bankruptcy Judges." (Abstract ID: 878328)

***

NYS Bar Assn.: "Formations, Reorganizations, and Liquidations Involving Insolvent Corporations." (Abstract ID: 885658)

***

Northeastern Univ.'s Harlan D. Platt & Marjorie B. Platt: "Understanding Differences Between Financial Distress and Bankruptcy." (Abstract ID: 876470)

***

Univ. of Texas at Austin's Ramesh K.S. Rao and Univ. of Md.'s Susan V. White: "The Creation of FirstCity Financial Corporation: A Clinical Study of the Bankruptcy Process." (Abstract ID: 880762)

***

Penn. Law School's David A. Skeel, Jr. & Georg Krause-Vilmar: "Recharacterization and the Nonhindrance of Creditors." (Abstract ID: 888182)

***

SMU Law School's Joshua C. Tate: "Game Over." (Abstract ID: 888634)

***

Univ. of Miami Law School's William H. Widen: "Prevalence of Substantive Consolidation in Large Bankruptcies from 2000-2004: Preliminary Results." (Abstract ID: 878388)

***

Abstracts for each of these working papers follow:

Continue Reading print this article | Posted By Steve Jakubowski In Recent Articles of Interest | 0 Comments | Permalink

Picks of the Month: Required Reading for February 2006

Here are our "Picks of the Month" for February 2006, a monthly guide to recently published articles of relevance to the bankruptcy practitioner, scholar, student, and Judge:

***

Continue Reading print this article | Posted By Steve Jakubowski In Recent Articles of Interest | 0 Comments | Permalink

Picks of the Month: Required Reading for January 2006

Here are our "Picks of the Month" for January 2006, a monthly guide to recently published articles of relevance to the bankruptcy practitioner, scholar, student, and Judge:

***

Continue Reading print this article | Posted By Steve Jakubowski In Recent Articles of Interest | 2 Comments | Permalink

Four Bankruptcy-Related Working Papers Available for Downloading from SSRN

The following four bankruptcy-related working papers can be downloaded from the Social Science Research Network:

***

Columbia University Business School's Kenneth Ayotte and Independent Consultant Yair Jason Listokin, Optimal Trust Design in Mass Tort Bankruptcy

***

University of Nebraska's Susan D. Franck, Christians v. Crystal Evangelical Free Church: Interpreting RFRA in the Battle Among God, the Government, and the Bankruptcy Code

***

Georgetown Univ. Law School's Milton C. Regan, Jr., Teaching Enron

***

Duke University Law School's Steven L. Schwarcz, The Inherent Rationality of Judgment Proofing

***

Abstracts for each of these working papers follow:


Continue Reading print this article | Posted By Steve Jakubowski In Recent Articles of Interest | 0 Comments | Permalink

Nine Bankruptcy-Related Working Papers Available for Downloading from SSRN

The following nine bankruptcy-related working papers can be downloaded from the Social Science Research Network:

***

Columbia Business School's Kenneth Ayotte and Stav Gaon, Asset-Backed Securities: Costs and Benefits of Bankruptcy Remoteness

***

Yale School of Management's Arturo Bris, Ivo Welch and Ning Zhu: The Costs of Bankruptcy

***

Purdue University Business School's Diane K. Denis and NYU's Business School's Kimberly J. Rodgers, Chapter 11: Duration, Outcome, and Post-Reorganization Performance

***

Quinnipiac University Law School's Stephen G. Gilles, The Judgment-Proof Society

***

Independent Consultant Michael Nwogugu, Decision-making, Risk and Corprate Governance: A Critique of Bankruptcy/Recovery Prediction Models

***

Duke University's Steven L. Schwarcz, The Easy Case for the Priority of Secured Claims in Bankruptcy

***

Lawyer Michael St. James, Why Bad Things Happen in Large Chapter 11 Cases: Some Thoughts about Courting Failure

***

Wisconsin Law School's Bernard Trujillo, Patterns in a Complex System: An Empirical Study of Valuation in Business Bankruptcy Cases

***

Boston College Law School's Catharine P. Wells, Who Owns the Local Church? A Pressing Issue for Dioceses in Bankruptcy

***

Abstracts for each of these working papers follow:


Continue Reading print this article | Posted By Steve Jakubowski In Recent Articles of Interest | 0 Comments | Permalink

Picks of the Month: Required Reading for December 2005

Here are our "Picks of the Month" for December 2005, a monthly guide to recently published articles of relevance to the bankruptcy practitioner, scholar, student, and Judge:

***

Continue Reading print this article | Posted By Steve Jakubowski In Recent Articles of Interest | 0 Comments | Permalink

Who's Really Feasting in Chapter 11 Cases? Professor Lubben Provides a New Perspective on This Perennial Question

Professor Stephen J. Lubben, a former Skadden Arps associate, now Seton Hall law professor, and no stranger to the phenomenon of "feasting" in bankruptcy, has just made available for the general public's review his latest working draft of a paper entitled "The Microeconomics of Chapter 11 and the Irrelevance of Ex Ante Costs," which is accompanied by the following abstract:

Several recent studies have put the level of professional fees in large chapter 11 cases at about 2.5 percent of assets or less. This compares favorably with other significant corporate transactions. But little attention has been given to the issue of how professional fees are allocated within chapter 11 cases. Examining this issue is important because a significant strain of bankruptcy scholarship is premised on the notion that chapter 11 is excessively expensive, notwithstanding the existing evidence that suggests otherwise. In particular, these theorists employ the long-recognized principle that lenders will recoup anticipated losses through higher ex ante interest rates to support the argument that altering or even replacing chapter 11 will reduce the costs of debt financing and thus promote efficiency. But if most of the supposed costs of chapter 11 are in fact exogenous to the Bankruptcy Code, reductions in the cost of chapter 11 may have only a modest correlation with reductions in the cost of financial distress.


This paper thus offers the first look at the intra-debtor distribution of professional fees. I analyze a new sample of almost 4,000 attorney time entries, from more than 30 law firms, in 27 very large chapter 11 cases filed between 2001 and 2003 to look at several basic questions regarding the allocation of attorney's fees within chapter 11 cases. I find that up to 60% of the professionals fees in a bankruptcy case may be exogenous to chapter 11. I then develop the broader argument that ex ante costs are virtually irrelevant to current discussions of chapter 11.

Professor Lubben's analysis provides a good summary of the current state of research on professional fees associated with chapter 11 cases, and adds a unique perspective by focusing his analysis on law firm microeconomics. I found especially interesting his analysis under the sub-heading, "Staffing in Chapter 11" at pages 26-33 (where he even quotes from a book by Sol Stein entitled A Feast for Laywers, referenced here).

According to Professor Lubben, the data he examined suggests a counterintuitive result: that is, the bulk of hours billed in a case is more concentrated among "mid-level" attorneys (whose average billable rate is between about $350 and $450 per hour) than their more senior or junior counterparts. These mid-level attorneys, the data suggests, bill 25%-30% more hours on average per month than more senior or more junior attorneys working on the case (whose average billable rate is around $625 for the more senior attorneys and $260 for the more junior attorneys). Professor Lubben says he had predicted the data would fall along a relatively straight upward sloping line, with the most senior attorneys working the least number of hours per month (to the far left of the graph) and the most junior attorneys slaving away the hardest (to the far right of the graph). Instead, Professor Lubben notes, the data suggests that legal fees in large chapter 11 cases actually form a horseshoe (or upside-down "U") shaped curve, with time most heavily concentrated in the middle (where fat often concentrates) among mid-level attorneys/associates.

Professor Lubben is not sure what all this means, or even whether his data is reliable because he didn't have complete access to law firm billing records. Still, he doesn't shy away from asking the tough questions suggested by the data, such as:

Continue Reading print this article | Posted By Steve Jakubowski In Recent Articles of Interest | 0 Comments | Permalink

Picks of the Month: Required Reading for November 2005

Here are our "Picks of the Month" for November 2005, a monthly guide to recently published articles of relevance to the bankruptcy practitioner, scholar, student, and Judge:

Continue Reading print this article | Posted By Steve Jakubowski In Recent Articles of Interest | 0 Comments | Permalink

Six Bankruptcy-Related Working Papers Available for Downloading from SSRN

The following six bankruptcy-related working papers can be downloaded from the Social Science Research Network:

***

University of Texas Law School's A. Mechele Dickerson: "Words that Wound: Defining, Discussing, and Defeating Bankruptcy 'Corruption'."

***

Harvard Law School's Ethan Bernstein: "All's Fair in Love, War & Bankruptcy?: Corporate Governance Implications of CEO Turnover in Financial Distress."

***

Boston College Law School's Catharine P. Wells: "Who Owns the Local Church? A Pressing Issue for Dioceses in Bankruptcy."

***

Syracuse University Law School's Gregory L. Germain: "Income Tax Claims in the Year of Bankruptcy: A Congressionally Created Quagmire."

***

University of Reading's Charles Grant and Institute for the Study of Labor's Winifried Koeniger: "Redistributive Taxation and Personal Bankruptcy in US States."

***

Texas A&M's Li Gan and Washington University's Tarun Sabarwal: "A Simple Test of Adverse Events and Strategic Timing Theories of Consumer Bankruptcy."

***

Abstracts for each of these working papers follow:

Continue Reading print this article | Posted By Steve Jakubowski In Recent Articles of Interest | 0 Comments | Permalink

Zones of Insolvency, Deepening Insolvency, and Litigation Risks to a Debtor's Officers, Directors, and Advisors

Thanks to our friends at the Delaware Litigation Blog, for letting us know of Professor Ribstein's works and Professor Bainbridge's works on the fiduciary duties of directors in the "zone of insolvency."

Along these lines, I also highly recommend a recent article reviewed at the NCBJ entitled "Deepening Insolvency," authored by J.B. Heaton (partner at Barlit Beck Herman Palenchar & Scott LLP). This well-researched article, published in the Spring 2005 issue of The Journal of Corporation Law (vol. 30, no. 3), provides an excellent summary of the development and current state of "this theory of corporate injury." In this article, Heaton writes:

Deepening insolvency theories originated in efforts to avoid imputing the wrongdoing of corporate directors and officers to a bankrupt plaintiff corporation by invoking the so-called "adverse interest exception" [to the in pari delicto doctrine], evolved to a theory of standing and damages, and finally "morphed" into an independent cause of action. (Citing In re Global Service Group LLC., 2004 Bankr. LEXIS 1702, at *11 (Bankr. S.D.N.Y., 11/4/04) (recognizing that "[w]hat began as a justification for recognizing the 'adverse interest' exception soon morphed into a theory of recovery")).


Steve Jakubowski

© Steve Jakubowski 2005

print this article | Posted By Steve Jakubowski In Recent Articles of Interest | 1 Comments | Permalink

Picks of the Month: Required Reading for October 2005

Here are our "Picks of the Month": a monthly reading guide to recently published articles of relevance to the bankruptcy practitioner, scholar, student, and Judge:

Continue Reading print this article | Posted By Steve Jakubowski In Recent Articles of Interest | 1 Comments | Permalink

The Continuity of Interest Doctrine Debunked

Wachtell Lipton's Joshua Blank argues here that the "continuity of interest doctrine" for corporate tax reorganizations is an unworkable doctrine with goals that are mere fictions at best.


© Steve Jakubowski 2005

print this article | Posted By Steve Jakubowski In Recent Articles of Interest | 0 Comments | Permalink