Corporate bankruptcy law scholars generally view financial distress as an exogenous
development. These scholars see bankruptcy, or" financial distress" or" insolvency," as a …

The growing use of Chapter 11 by financially troubled firms has been accompanied by an
increasing uneasiness in the academy over the normative desirability of such proceedings …

In 1996 a record one million-plus bankruptcy cases were filed in the United States. In this
important book, an eminent legal authority provides an accessible introduction to and …

In a Chapter ii reorganization, senior creditors can insist on being paid in full before anyone
junior to them receives anything. In practice, however, departures from" absolute priority" …

Timing is everything. We all know people who, when making similar choices at different
points in their lives, have made different decisions each time. A young man who chose to …

It has become a canonical tenet of academic discussions of corporate reorganization that
Chapter 11-while not as costly as originally suspected'-is substantially more expensive than …

Six years ago, a bankruptcy scholar's suggestion that Chapter 11, the Bankruptcy Code's
corporate reorganization chapter,'should be abolished would have interested almost no one …

In recent years, bankruptcy courts have given conflicting answers to the question: May a
prepetition debtor 3 contractually waive bankruptcy protections? 4 More recently, scholars …

Firms fail. They do not pay their creditors, they lay off their employees, and they often close
their doors. All agree that the demise of an enterprise visits hardship on those who have …

The appropriate content of bankruptcy law has become the most hotly debated area of
corporate law. The past few years have witnessed a rush of bankruptcy scholars trying to …