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Dodd-Frank’s Missed Opportunity on Whistleblower Law
One of the highest-profile provisions of the Dodd-Frank Act is Section 922. That provision provides protection and monetary awards for whistleblowers. To qualify, the whistleblower must provide...
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Entity Partitioning and Tailored Bankruptcy
The partitioning of businesses into separate legal entities has been the focus of financial and legal study for decades. This literature has looked at the implications of legal separations across...
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The New Corporate Web: Tailored Entity Partitions and Creditors’ Selective...
The following post comes to us from Anthony Casey, Assistant Professor of Law at the University of Chicago Law School. It is based on his recent article, “The New Corporate Web: Tailored Entity...
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Beyond Stakeholder Options in Bankruptcy
Much of the debate in bankruptcy scholarship today centers on the extent to which the law protects stakeholder options. In a new paper, “Beyond Options,” we argue that this focus is misplaced....
View ArticleThe Bankruptcy Partition
Corporate bankruptcy law is built around the idea of replicating the hypothetical bargain that would occur among creditors of a firm if they could all negotiate ex ante. By the common account, the...
View ArticleToys ‘R’ Us and Bankruptcy: Death by Disruption, Not Debt
As Toys ‘R’ Us heads for liquidation, a common refrain has it that the toy retailer failed to successfully reorganize in Chapter 11 because it took on too much debt. The 2005 leveraged buyout (LBO) of...
View ArticleLarge Corporations Did Not Need A Bailout
The CARES Act passed in response to the COVID-19 crisis provides billions of dollars in industry-specific loans that will go to large corporations like Boeing and the major airlines. These provisions...
View ArticleThe Government Tools for Responding to Market Distress
In the spring of 2020, as the Covid-19 pandemic shut down economies around the world, pressure arose for governments to respond to the growing threat of pandemic-related market distress. In the United...
View ArticleBankruptcy Shopping: Domestic Venue Races and Global Forum Wars
The United States Bankruptcy Code gives debtors wide discretion to reorganize in the venue of their choice. These lenient venue selection rules long have allowed bankruptcy courts in the District of...
View ArticleHow a Commitment Rule Would Improve the Choice of Cross-Border Insolvency Forum
In a recent article, we propose a new rule for determining the proper forum for insolvency proceedings. Currently, the Model Law on Cross-Border Insolvency, promulgated by the United Nations Commission...
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