On the eve of the financial crisis, a series of Delaware court decisions resulted in a radical
change in law: creditors would no longer have the kind of common law protections from …

What law governs American prisons and jails, and what does it matter? This Article offers
new answers to both questions. To many scholars and advocates," prison law" means the …

In 1978, Congress created a new federal bankruptcy law that has since become a key part of
the American capital markets. I examine how large companies and their investors contract to …

Several recent trends have reshaped the nature of bargaining in Chapter 11. These include
increasingly complex prebankruptcy capital structures, decreasing time in Chapter 11 due to …

Neiman Marcus and J. Crew each filed for strikingly similar Chapter 11 bankruptcies in May
of 2020.'Both firms planned to borrow hundreds of millions of dollars in debtor-in-possession …

In this Article, we use hand-collected data to shed light on a troubling development in
bankruptcy practice: distressed companies, especially those controlled by private equity …

To understand the logic of corporate reorganization, one should start not with the Bankruptcy
Code, nor with Supreme Court precedents, but with the lawyers, judges, and financiers for …

What justifies corporate bankruptcy law in the modem economy? For forty years,
economically oriented theorists have rationalized bankruptcy as an antidote to potential …

The sharply resource-constrained environment of bankruptcy breeds fierce competition for
the value that remains in a bankrupt firm.'Managers are tasked with maximizing the overall …

We examine executive bonus contracts in corporate bankruptcies. Introduced in 2005,
Section 503 (c)(1) of the United States' Chapter 11 corporate bankruptcy code regulates key …