Download or read book Bankruptcy Law as a Balancing System written by Omer Kimhi and published by . This book was released on 2018 with total page 41 pages. Available in PDF, EPUB and Kindle. Book excerpt: The rehabilitation of distressed corporations often requires the reduction of labor costs. In order to regain economic stability, distressed firms need to terminate employees or to modify their employment conditions. When employees are protected by statutes or by collective bargaining agreements, however, such measures are not always possible. The employer's freedom to manage its work force is limited, and it may fail to implement labor reforms necessary for the firm's recovery.The paper deals with this conflict from a comparative perspective. It examines whether labor laws should remain unchanged, even when employment protections jeopardize the continued operation of the firm, or should bankruptcy law override the protections and facilitate corporate rehabilitation? To do so the paper studies the bankruptcy policy of three European jurisdictions - the Netherlands, France and Germany, and compares it vis-a-vis the dominant approach to bankruptcy law in the U.S - the procedural approach. We reveal that bankruptcy law in Europe serves as a balancing system to the otherwise rigid labor laws. We analyze the rationale of this policy and explores its the benefits and costs. The analysis provides lessons relevant also to the Unites States. It contributes to the on-going debate between the traditional and procedural approaches, and it sheds light on the interpretation of section 1113 of the bankruptcy code.
Download or read book A Delicate Balancing Act written by Michael D. Sousa and published by . This book was released on 2014 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt: Since the Middle Ages, bankruptcy laws have been concerned with preventing and deterring fraudulent debtors, most notably debtors who willfully fail to fully disclose all of their assets to their creditors. This concern was no less prevalent during the passage of the first Bankruptcy Act in the United States in 1800, which established bankruptcy fraud as a criminal offense. No doubt, the evolution of modern American bankruptcy law has moved toward a more liberal treatment of debtors. Significantly, so long as debtors conform to certain behavioral norms prescribed in the Bankruptcy Code, honest, but unfortunate debtors can expect to receive a discharge of their pre-petition indebtedness. Notwithstanding the existing civil and criminal remedies for committing bankruptcy fraud through a failure to disclose assets, it is suspected that many individuals who file for bankruptcy protection attempt to improperly shield assets from their creditors' reach. Consequently, this Article proposes a normative framework under which a bankruptcy trustee can conduct a warrantless search of an individual debtor's residence upon suspicion that a debtor is attempting to commit fraud by failing to disclose assets. More specifically, this Article argues that a bankruptcy trustee, though bound by the Fourth Amendment, can conduct a warrantless search of a debtor's home based upon one of three distinct theories: (1) the bankruptcy process can be considered a "special needs" administrative search exception to the Fourth Amendment warrant requirement; (2) the bankruptcy law system can be equated to a "closely regulated industry" under Fourth Amendment jurisprudence; and (3) debtors implicitly consent to have their homes searched by a bankruptcy trustee as a consequence of submitting themselves to the intrusive nature of the bankruptcy process.
Download or read book Chapter 11 written by Elizabeth Warren and published by Aspen Publishing. This book was released on 2015-01-30 with total page 214 pages. Available in PDF, EPUB and Kindle. Book excerpt: Chapter 11: Reorganizing American Businesses, The Essentials is part Aspen’s new Essentials series, which takes a “forest rather than the trees” approach to teaching. This concise paperback concentrates on the fundamentals of business bankruptcy law and uses an informal, essay-like style to explain them. In addition to developing the important ideas in business bankruptcy, the author also takes a look at some of the more important operational elements in order to bring the material to life. Suitable for use with any casebook, this text clarifies the important topics and bridges the gap of understanding for the student.
Download or read book Bankruptcy written by Dolores B. Kopel and published by . This book was released on 1988 with total page 83 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Failure and Forgiveness written by Karen Gross and published by . This book was released on 1997 with total page 302 pages. Available in PDF, EPUB and Kindle. Book excerpt: In 1996 a record one million-plus bankruptcy cases were filed in the United States. In this book, an eminent legal authority provides an accessible introduction to and evaluation of the federal bankruptcy system governing these filings. Karen Gross describes existing bankruptcy law, assesses what is actually happening in practice, and makes specific - and controversial - recommendations for reform. Gross explores the varying and often conflicting interests of debtors, creditors, and community in the bankruptcy system. She justifies the idea of a 'fresh start' for individual and business debtors by analyzing notions of forgiveness and rehabilitation in a civilized society. She offers a perspective on how to treat certain of the creditors that bankruptcy touches, substituting a principle of equality of outcome for the principle of equality of treatment. She also presents an original argument about community interests, contending that they should be given serious weight in the necessary balancings that make up bankruptcy law and policy, and provides specific statutory amendments to achieve this goal. Offering a humanitarian approach to bankruptcy rather than the law and economic approach commonly used, this book places legal issues of bankruptcy in their social context and opens the dialogue about bankruptcy to lawyers and nonlawyers alike.
Download or read book Bankruptcy and Insolvency Law written by Roderick J. Wood and published by . This book was released on 2009-01-01 with total page 635 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Bankruptcy and Insolvency Law" is the most up-to-date treatise on the subject currently available in Canada. The book is organized in a way that illuminates the structure of insolvency law, its aims and objectives, and its foundational principles. By focusing on the underlying principles of insolvency law the reader can see how these principles work in a variety of different situations and contexts.
Download or read book Bankruptcy Around the World written by Stijn Claessens and published by World Bank Publications. This book was released on 2002 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Orderly and Effective Insolvency Procedures written by International Monetary Fund and published by International Monetary Fund. This book was released on 1999-08-02 with total page 108 pages. Available in PDF, EPUB and Kindle. Book excerpt: Written by IMF's Legal Department, this book outlines the key issues involved in designing and implementing orderly and effective insolvency procedures, which play a critical role in fostering growth and competitiveness and may also assist in the prevention and resolution of financial crises. The book draws on lessons learned from firsthand experience by some of the IMF's 182 member countries. It includes an analysis of the major policy choices that countries need to address when designing an insolvency system, a discussion of the advantages and disadvantages of these choices, and a number of specific recommendations.
Download or read book The Early History of Bankruptcy Law written by Louis Edward Levinthal and published by Franklin Classics Trade Press. This book was released on 2018-11-13 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt: This work has been selected by scholars as being culturally important and is part of the knowledge base of civilization as we know it. This work is in the public domain in the United States of America, and possibly other nations. Within the United States, you may freely copy and distribute this work, as no entity (individual or corporate) has a copyright on the body of the work. Scholars believe, and we concur, that this work is important enough to be preserved, reproduced, and made generally available to the public. To ensure a quality reading experience, this work has been proofread and republished using a format that seamlessly blends the original graphical elements with text in an easy-to-read typeface. We appreciate your support of the preservation process, and thank you for being an important part of keeping this knowledge alive and relevant.
Download or read book Debt s Dominion written by David A. Skeel Jr. and published by Princeton University Press. This book was released on 2014-04-24 with total page 296 pages. Available in PDF, EPUB and Kindle. Book excerpt: Bankruptcy in America, in stark contrast to its status in most other countries, typically signifies not a debtor's last gasp but an opportunity to catch one's breath and recoup. Why has the nation's legal system evolved to allow both corporate and individual debtors greater control over their fate than imaginable elsewhere? Masterfully probing the political dynamics behind this question, David Skeel here provides the first complete account of the remarkable journey American bankruptcy law has taken from its beginnings in 1800, when Congress lifted the country's first bankruptcy code right out of English law, to the present day. Skeel shows that the confluence of three forces that emerged over many years--an organized creditor lobby, pro-debtor ideological currents, and an increasingly powerful bankruptcy bar--explains the distinctive contours of American bankruptcy law. Their interplay, he argues in clear, inviting prose, has seen efforts to legislate bankruptcy become a compelling battle royale between bankers and lawyers--one in which the bankers recently seem to have gained the upper hand. Skeel demonstrates, for example, that a fiercely divided bankruptcy commission and the 1994 Republican takeover of Congress have yielded the recent, ideologically charged battles over consumer bankruptcy. The uniqueness of American bankruptcy has often been noted, but it has never been explained. As different as twenty-first century America is from the horse-and-buggy era origins of our bankruptcy laws, Skeel shows that the same political factors continue to shape our unique response to financial distress.
Download or read book The Law s Conscience written by Peter Charles Hoffer and published by Univ of North Carolina Press. This book was released on 2000-11-09 with total page 318 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Law's Conscience is a history of equity in Anglo-American juris-prudence from the inception of the chancellor's court in medieval England to the recent civil rights and affirmative action decisions of the United States Supreme Court. Peter Hoffer argues that equity embodies a way of looking at law, including constitutions, based on ideas of mutual fairness, public trusteeship, and equal protection. His central theme is the tension between the ideal of equity and the actual availability of equitable remedies. Hoffer examines this tension in the trusteeship constitutionalism of John Locke and Thomas Jefferson; the incorporation of equity in the first American constitutions; the antebellum controversy over slavery; the fortunes of the Freedmen's Bureau after the Civil War; the emergence of the doctrine of "Balance of Equity" in twentieth-century public-interest law; and the desegregation and reverse discrimination cases of the past thirty-five years. Brown v. Board of Education (1954) was the most important equity suit in American history, and Hoffer begins and ends his book with a new interpretation of its lessons.
Download or read book The Economics of Bankruptcy Reform written by Philippe Aghion and published by . This book was released on 1992 with total page 78 pages. Available in PDF, EPUB and Kindle. Book excerpt: We propose a new bankruptcy procedure. Initially, a firm's debts are cancelled, and cash and non-cash bids are solicited for the 'new" (all-equity) firm. Former claimants are given shares, or options to buy shares, in the new firm on the basis of absolute priority. Options are exercised once the bids are in. Finally, a shareholder vote is taken to select one of the bids. In essence, our procedure is a variant on the U.S. Chapter 7, in which non-cash bids are possible; this allows for reorganization. We believe our scheme is superior to Chapter 11 since it is simpler, quicker, market-based, avoids conflicts, and places appropriate discipline on management.
Download or read book Handbook for Chapter 7 Trustees written by and published by . This book was released on 2001 with total page 240 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Handbook for Chapter 13 Standing Trustees written by and published by . This book was released on 1998 with total page 482 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Model Rules of Professional Conduct written by American Bar Association. House of Delegates and published by American Bar Association. This book was released on 2007 with total page 216 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Model Rules of Professional Conduct provides an up-to-date resource for information on legal ethics. Federal, state and local courts in all jurisdictions look to the Rules for guidance in solving lawyer malpractice cases, disciplinary actions, disqualification issues, sanctions questions and much more. In this volume, black-letter Rules of Professional Conduct are followed by numbered Comments that explain each Rule's purpose and provide suggestions for its practical application. The Rules will help you identify proper conduct in a variety of given situations, review those instances where discretionary action is possible, and define the nature of the relationship between you and your clients, colleagues and the courts.
Download or read book An Overview of the Legal Institutional and Regulatory Framework for Bank Insolvency written by International Monetary Fund. Monetary and Capital Markets Department and published by International Monetary Fund. This book was released on 2009-04-17 with total page 77 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study provides an overview of the legal, institutional, and regulatory framework that countries should put in place to address cases of bank insolvency. It is primarily intended to inform the work of the staffs of the International Monetary Fund (IMF) and World Bank, and to provide guidance to their member countries.
Download or read book Employee Rights in Corporate Insolvency written by Hamiisi Junior Nsubuga and published by Routledge. This book was released on 2019-10-08 with total page 213 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book analyses corporate rescue laws, processes and policies prescribed in corporate insolvency or bankruptcy laws, and employment laws of the UK and the US, with a particular focus on how extant employee rights are treated when a debtor employer initiates corporate insolvency proceedings. The commencement of formal insolvency proceedings by an employer affects employees’ rights and interests. Employment laws seek to protect employees’ rights and interests, while insolvency laws seek to promote corporate rescue, which may entail workforce changes. Consequently, this creates a tension between whose interest insolvency law should give primacy of protection. The book analyses how corporate rescue processes such as administration, pre-pack business sales, company voluntary arrangements, receivership and liquidation impact employee rights and protection during corporate rescue proceedings in both jurisdictions. It goes on to address how the federal system of government in the US and the diffusion of power between federal and state law jurisdictions impact a uniform code of employee protection during Chapter 11 bankruptcy reorganisation proceedings. The book considers how an interpretative approach to law (Dworkin’s Interpretative Theory of Law) may be used to balance both employee protection and corporate rescue laws during corporate insolvency in the UK and the US. Of interest to academics, students and employment law practitioners, this book examines the tension between corporate rescue laws and employment protection laws during corporate insolvency in the US and the UK and how this tension may be remedied or balanced.
