Bankruptcy
Supreme Court’s Jevic Opinion Affirms Central Role of Priority Structure in Chapter 11 Reorganizations
Prof. Lipson highlights SCOTUS’s decision to award wage claims to Jevic drivers despite “structured dismissal”
First Circuit Bars Puerto Rico’s Municipal Debtors From Bankruptcy Court
Puerto Rico’s government has repeatedly issued bonds to finance government obligations and operations, and fund needed infrastructure improvements. Current estimates of the government’s total indebtedness run as high as $72 Billion. The Puerto Rico government has issued two different types of bonds. The first type, general obligation bonds, were issued by the Commonwealth government and
A Local Treasure: The National Bankruptcy Archives
The National Bankruptcy Archives (NBA) is a national repository of archival materials relating to the history of debtor-creditor relations, bankruptcy and the reorganization of debt. It was created in 2000 to serve as a valuable resource and research tool for scholars and lawyers. This article introduces you to its utility and some of its content.
Bankruptcy Examiners and Governance in Chapter 11
Chapter 11 of the Bankruptcy Code is the principal legal system for resolving serious financial distress of U.S. businesses. Because it allows managers of troubled companies to retain control, it rests on a seeming conflict of interest: how can creditors trust the managers who may have caused the trouble in the first place? To address
Sovereign Debt and the “Trial of the Century”
The sovereign debt dispute involving Argentine bonds has attracted substantial attention and raised a number of novel and significant legal issues. This short essay provides a brief overview of this controversy. In 2001, the Republic of Argentina experienced a severe economic crisis. Inflation rose to over 40%, the stock market lost 60% of its value,
Series of LLCs: The Next Big Thing?
A “series LLC” is an LLC that has one or more “series.” A “series” is like, but not quite, a subsidiary. About a dozen states currently offer series LLCs. Most can have their own assets and liabilities. Internal liability shields provide that assets associated with a series are available only to creditors of that series,