Purdue's Poison Pill: The Breakdown of Chapter 11 's Checks and Balances Page 1 Purdue's
Poison Pill: The Breakdown of Chapter 11 's Checks and Balances Adam J. Levitin* Purdue …

By common account, two contrasting eras have defined largescale corporate reorganization
since the Bankruptcy Code was enacted in 1978.1 For much of the Code's first twenty years …

The conventional wisdom holds that out-of-court loan restructurings are mostly consensual
and collaborative. But this is no longer accurate. Highly aggressive, nonconsensual …

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 …

The corporate restructuring community is in the grip of an unbridled fear of holdouts-
bondholders who, in the face of an issuer's attempted restructuring, withhold their consent …

Practice under chapter 11 depends on bargaihing and negotiation to produce a plan
ofreorganization for the corporate debtor. Because this bargaining occurs behind closed …

Bankruptcy courts have become the favored forum for large corporate defendants to seek
global resolution of mass tort liability claims. Whether this forum choice benefits the victims …

The century and a half story of American corporate reorganization law exhibits a distinctive
pattern: a long, slow wave, drifting between flexibility and fairness, and back again.'Flexibility …