This book contains selected Bankruptcy Code provisions and is designed for law student use. The authors' goal is to increase law students' reading of Bankruptcy Code provisions before class, in class, and after class. With cross-references, occasional irreverent comments, and other materials, this book makes the Bankruptcy Code more accessible to law students.

The success of the insolvency proceeding for the insolvency creditor and the attainment of the insolvency goals are decisively dependent on the aptitude and ability of the insolvency administrator. The insolvency court's supervision of the insolvency administrator is therefore of essential importance to the success of the insolvency procedure. This work aims to encourage legal debate regarding the supervisory role of the insolvency courts and also the everyday management of the insolvency courts.

The third edition of Consumer Bankruptcy is a case book designed for a two- or three-unit law school course focusing solely on the unique issues that arise under the United States Bankruptcy Code when an individual with primarily consumer debts files for bankruptcy. The book fully explores the complexities introduced in 2005 with the enactment of the Bankruptcy Abuse Prevention and Consumer Protection Act, legislation that clearly sets out consumer bankruptcies as a very technical sub-specialty in the field of bankruptcy. Covered in this book are the barriers to entry by a consumer into chapter 7 liquidation, issues relating to discharge of debt, chapter 13 plans and chapter 13 cases converted to chapter 7. About the author: David Gray Carlson is Professor of Law at the Benjamin N. Cardozo School of Law. He is the author of a treatise on secured credit in bankruptcy and of over sixty law review articles on various aspects of bankruptcy and debtor-creditor law. Five of these articles concern the effect of the 2005 Bankruptcy Abuse Prevention and Consumer Protection Act, which revolutionized the law of consumer bankruptcies. He has taught a basic bankruptcy course for 25 years, before concluding that consumer bankruptcies had become such a sub-specialty that it is better taught in a course separate from the basic course. Besides teaching at Cardozo Law School, Carlson has taught at George Washington University Law School, University of Miami Law School, University of Michigan Law School and Washington & Lee School of Law.

When States Go Broke collects insights and analysis from leading academics and practitioners that discuss the ongoing fiscal crisis among the American states. No one disagrees with the idea that the states face enormous political and fiscal challenges. There is, however, little consensus on how to fix the perennial problems associated with these challenges. This volume fills an important gap in the dialogue by offering an academic analysis of the many issues broached by these debates. Leading scholars in bankruptcy, constitutional law, labor law, history, political science, and economics have individually contributed their assessments of the origins, context, and potential solutions for the states in crisis. It presents readers academics, policy makers, and concerned citizens alike with the resources to begin and continue that important, solution-oriented conversation."

Ernst Jaeger (1869-1944) played a pivotal role in shaping the study of bankruptcy law and composition and interpreting it for practical use. He accompanied contemporary legal practice with both commentaries and several series of essays. In his work, Jaeger constantly interpreted insolvency law with regard to specific cases and problems. The volume features a detailed introduction by the editor and a user-friendly index.

Regulation No 1346/2000 of 29 May 2000 (EIR) is the cornerstone of European insolvency law. The Regulation, which is directly applicable in all Member States, is the legal basis for cross-border insolvencies within the European Union. Paving the way for a new European insolvency law, the Heidelberg-Luxembourg-Vienna Report carries out a comprehensive legal and empirical evaluation of European insolvency law practice in the Member States. Based on thorough analyses the general reporters evaluate the Regulation and provide recommendations for its current revision. General reporters Professor Burkhard Hess (Luxembourg/Heidelberg), Dr Christian Koller (Vienna), Dr Bjoern Lankemann (Heidelberg/Luxembourg), Dr Robert Magnus (Heidelberg), Professor Paul Oberhammer (Vienna/London/St Gallen), Professor Thomas Pfeiffer (Heidelberg), Professor Andreas Piekenbrock (Heidelberg), Michael Slonina (Vienna) National reporters Dr Krista Pisani Bencini (Valletta), Samantha Bewick (London), Prof Dr Eric Bylander, LLD (Uppsala), Dr Rosanne Bonnici (Valletta), Prof Dr Remo Caponi (Florence), Mgr Slavomir M.Eauder (Prague), Dr Jeanette Ciantar (Valletta), Prof Dr Zoltaa Csehi (Budapest), Prof Dr Gilles Cuniberti, LLM (Luxembourg), Prof Dr Ales Galie (Ljubljana), Prof Dr Francisco Garcimartin (Madrid), Prof Dr Ivan Heredia (Madrid), Prof Burkhard Hess (Luxembourg/Heidelberg), Dr Laura Kirilevieiute (Lithuania), Prof Dr Nikolaos Klamaris (Athens), Dr Bjoern Laukemann (Heidelberg/Luxembourg), Dennis Lievens, LLM (Heidelberg), Prof Dr Tuula Linna, LLD (Lapland), Dr Robert Magnus (Heidelberg), Prof Dr Federico M Mucciarelli (London), Dr Carl Friedrich Nordmeier (Wiesbaden), Dr Ailbhe O'Neill (Dublin), Nina Orehek (Ljubljana), Polina Pavlova (Luxembourg), Joanna Perkins (London), Prof Thomas Pfeiffer (Heidelberg), Prof Andreas Piekenbrock (Heidelberg), Dr Tomas Richter (Prague), Veronika Sajadova (Latvia), Mag Gottfried Schellmann (Vienna), Christopher Seagon (Heidelberg), Kristina Sirakova (Luxembourg), Michael Slonina, LLM (Vienna), Prof Dr Elisa Torralba (Madrid), Prof Dr Paul Varul (Tartu), Prof Dr PM Michael Veder (Nijmegen), Dr Signe Viimsalu (Tallinn), Gheorghe-Liviu Zidaru (Bucharest)

This work is intended to provide insolvency administrators, agriculturalists, and their agricultural advisors with the knowledge required to conduct an agricultural insolvency procedure. The studies also aim to show the options open to the insolvency administrator and to creditors for configuring the process, and the related risks, liability problems, and rules that need to be taken into account.

When States Go Broke collects insights and analysis from leading academics and practitioners that discuss the ongoing fiscal crisis among the American states. No one disagrees with the idea that the states face enormous political and fiscal challenges. There is, however, little consensus on how to fix the perennial problems associated with these challenges. This volume fills an important gap in the dialogue by offering an academic analysis of the many issues broached by these debates. Leading scholars in bankruptcy, constitutional law, labor law, history, political science and economics have individually contributed their assessments of the origins, context and potential solutions for the states in crisis. It presents readers - academics, policy makers and concerned citizens alike - with the resources to begin and continue that important, solution-oriented conversation.

Special avoidance in insolvency constitutes an intersection of the oppositional principles of distribution which govern civil law: the principle of priority, which entrusts the allocation of goods to personal autonomy - the market - and the principle of equal treatment, according to which creditors of an insolvent debtor each receive the same rate on their claims. This work comprehensively examines the individual facts of each principle on a uniform dogmatic basis."

Bankrupt Enron paid more than a billion dollars in cash to bankruptcy lawyers, financial advisors, and other bankruptcy professionals. The managers of Enron, like those of most bankrupt companies, paid the professionals with other peoples' money - money that would otherwise have gone to creditors, employees, shareholders, or to saving the companies. To prevent excessive payments, the bankruptcy code and rules establish an elaborate system for public reporting and court approval of professional fees.
Armed with the ability to choose among courts that want or need to attract the cases, the professionals have largely taken charge of the fee-control system and rendered it toothless. The professionals ignore ignore the rules and the courts do nothing about it. Objections to fees are rare, and the courts award almost 99% of the amounts applied for. Fees rose at the rate of 9.5% per year from 1998 through 2007. Effective methods for assessing and controlling fees do exist, but it is not in the interests of the courts or the professionals to employ them.
Based on a study of thousands of documents from the court files in 102 of the largest cases, bankruptcy expert, Lynn M. LoPucki, and political scientist, Joseph W. Doherty, provide an unprecedented window on the worlds of bankruptcy professionals, professional fees, and their scientific study. Through that window, readers see both a disturbing picture of a legal system in crisis and a hopeful one with opportunities for desperately needed reform.
Professional Fees in Corporate Bankruptcies is a scholarly work that employs statistical analysis, and documents its findings to scientific standards. But the authors have written for readers with technical backgrounds in neither bankruptcy nor statistics. This book will be of interest not only to scholars studying professional fees, but also to bankruptcy professionals, judges, policymakers, and anyone interested in the functioning of law-based systems.

The Law of Debtors and Creditors is a new case book for a three-unit law school course focusing on the basic principles of American debtor-creditor law. The book focuses on the law of execution on money judgments, using New York law as a paradigm. It also thoroughly covers fraudulent conveyance law, as it exists under state law and under bankruptcy in general. The book also explores the basic principles of chapter 7 liquidation, as well as a thorough review of the avoidance powers granted to a bankruptcy trustee under the Bankruptcy Code. Excluded from this volume is coverage of issues unique to consumer bankruptcy, on which the author has published a separate case book with Vandeplas Publishing, LLC.About the author: David Gray Carlson is Professor of Law at the Benjamin N. Cardozo School of law. He is the author of a treatise on secured credit in bankruptcy and of over sixty law review articles on various aspects of bankruptcy and debtor-creditor law. Many of these articles have involved procedural and constitutional issues connected with the enforcement of money judgments obtained in state and federal courts and issues involving fraudulent conveyance and voidable preference law, all of which are implicated in the current volume. He has taught a basic debtor-creditor course for over 25 years. Besides teaching at Cardozo Law School, Carlson has taught at the George Washington School of Law, the, University of Miami Law School, the University of Michigan Law School, Washington & Lee School of Law, and the Interdisciplinary Institute at Herzlya, Israel.

A possible alternative to the liquidation of the debtor by means of bankruptcy or insolvency proceedings is the restoration of his or her solvency through either insolvency proceedings or outside of such proceedings. This can be accomplished with the aid of various measures. This work presents one of these options in detail within the scope of a comparative examination of German and Russian law: credit issuance geared toward long-term restoration of debtor solvency, the restructuring loan.

This work contains a comprehensive presentation of liquidation according to section 84 InsO in the event of an insolvency debtor's participation in a community or company. This work also focuses on the insolvency-related features resulting from the liquidation procedure. In addition, the very role of the insolvency administrator in each phase of the liquidation is called into question. Various problem areas are identified and the procedure is evaluated in terms of its legal efficiency. The focal point of the evaluation is the question of how solutions suitable for daily practice can be applied to these issues.

The new regulations in AA 208 ff. of the German Insolvency Act (InsO) aimed to create the necessary legal basis for the performance of proceedings with insufficient assets. The legislator recognized that the rejection of applications to open insolvency proceedings or the termination of proceedings already opened can lead to the significant compromise of business activities. Despite the legislative goal of comprehensive regulation, significant questions regarding the performance of insolvency proceedings with insufficient assets remain unclear, particularly due to the vague formulation of A 208 of the InsO relating to the continuance of the administrative and assessment obligations of insolvency administrators. This work aims to tackle these uncertainties and pending issues in the legal regulation and highlight possible solutions.

Mit dem vorliegenden Werk werden die im Rahmen von Scheckzahlungen mAglichen insolvenzrechtlichen Probleme aus Sicht der einzelnen am Scheckzahlungsverkehr beteiligten Personen erstmalig umfassend und detailliert rechtsdogmatischuntersucht. Die Untersuchung befasst sich hierbei insbesondere mit den 3 wesentlichen Gebieten der Scheckzahlungen in der Insolvenz des Scheckausstellers, der Scheckzahlungen in der Insolvenz des Scheckeinreichers und der Weitergabe von Kundenschecks in der Insolvenz des ersten Schecknehmers.

This volume offers a comprehensive presentation of European insolvency law and considers questions relating to the cross-border insolvency proceeding. Due to the European Insolvency Regulation (EIR), the issues arising from the cross-border insolvency proceeding are no longer purely academic matters but are now present in the European area and have become problematic for professionals dealing with the application and interpretation of Community insolvency law.

This publication is based on presentations given at the 4th Insolvency Law Symposium in Kiel (Germany) on current issues of German and international insolvency law. The following topics were addressed: the history of insolvency law; the insolvency court's supervision of the insolvency administrator; set-off options relating to tax claims; delayed distribution proceedings; insolvency and the English limited; insolvency appeals and the European Insolvency Regulation; international jurisdiction and conflict of laws.

The aim of the presentation is to critically evaluate the importance of German insolvency law as an instrument for overcoming the financial and economic crisis and to develop reasonable reform suggestions. Following a description of the economic and legal points of origin, which must be taken into account as the basis of the evaluation of the decisions and actions already made or planned, thoughts on the goals and instruments of reform policy are presented. The focus of the presentation then turns to extra-judicial (pre-insolvency law) recapitalization, the insolvency statute as an instrument of recapitalization as well as the question of whether there should be a special act on the recapitalization of system relevant financial institutions. In closing, the most important results are summarized.

The Asian Financial Crisis dramatically illustrated the vulnerability of financial markets in emerging, transitional, and advanced economies. In response, international organizations insisted that legal reforms could help protect markets from financial breakdowns. Sitting at the nexus between the legal system and the market, corporate bankruptcy law ensures that the casualties of capitalism are treated in an orderly way.
Halliday and Carruthers show how global actors--including the IMF, World Bank, UN, and international professional associations--developed comprehensive norms for corporate bankruptcy laws and how national policymakers responded in turn. Drawing on extensive fieldwork in China, Indonesia and Korea, the authors reveal how national policymakers contested and negotiated domestic laws in the context of global pressures. The first study of its kind, this book offers a theory of legal change to explain why global/local tensions produce implementation gaps. Through its analysis of globalization, this book has lessons for international organizations and developing and transition economies the world over.

A commercial tenant's interest in the retention of the rented item can be of paramount importance. In the event of landlord insolvency, the landlord's demands fade into the background and the creditor's rights take precedence. This unforeseeable development for the tenant can endanger the tenant's very existence due to divestiture of the rented item, i.e. his business, shop or factory. This work deals with the typical scenarios of such cases and answers the question concerning the possibility of effectively preventing the specialized right of termination according to A 111 of the German Insolvency Act.

This collection of essays is a festschrift to honour Professor Dan Prentice who retired in 2008 from the Allen & Overy Professorship of Company Law in the University of Oxford. Dan Prentice has been deeply involved in corporate law from all perspectives: as a scholar, teacher, law reformer and practising member of Erskine Chambers. His interests have covered the full range of corporate law, finance and insolvency. The occasion of his retirement from his Professorship has afforded a number of leading corporate law experts from around the world, many of whom are his former students and colleagues, an opportunity to address some of the most important issues in corporate law today, in his honour. Corporate law has always been a fast-moving area, but the present pace of change seems quicker than ever. The Companies Act 2006, by some way the longest piece of legislation ever passed by the UK Parliament, is reshaping the landscape of domestic company law. At the same time, legislative and judicial developments at the European level in corporate and securities law are of unprecedented importance for corporate lawyers based in the UK. This outstanding series of papers addresses a number of the most important issues currently facing the subject, including the impact of the new Companies Act on directors' duties, shareholder litigation and capital maintenance; aspects of insolvency and banking regulation, the Capital Requirements Directive, and a new Convention on Intermediated securities. It will be essential reading for all those interested in the field.

The volume at hand contains a special edition of the commentary by Wolfram Henckel on 129-147 of the German Insolvency Act from Jaeger's extensive commentary on the Insolvency Act. It contains the entire insolvency appeal procedure and provides a basic, current and comprehensive commentary on this core part of the Insolvency Act. With the aid of this commentary, answers can be found to the many questions that confront those active in the field of insolvency appeal law. This work is geared towards attorneys, judges, certified accountants, and insolvency administrators."

The insolvency law is one of the core components of the comprehensive body of legislation that ensures the confidence of the legal community in a legal system. It regulates the conditions of widespread debtor liability and at the same time defines the framework within which creditors can expect their rights to be preserved through a reorganization and recapitalization of the indebted company. The actual effect of the insolvency law does not end at a country's borders. Insolvency proceedings are structured according to the right to have universally applicable validity. Joint legislation on cross-border insolvency proceedings is now in effect in the form of intrastate legislation in almost all member states of the European Union. This shared European legislation is impacting intrastate reform processes and influencing the insolvency legislation. Furthermore, the intrastate legislation is being influenced by the UNCITRAL-Model law. Academic debate is increasingly concerned with the convergence movement that has been triggered as a result. Practical applications require legal dogmatic clarification of the increasingly complex regulations of insolvency legislation, and information on structures and problems of foreign European and extra-European insolvency laws, as well as and in particular with regard to its interaction with German laws. The DZWIR publication series is a forum of these discussions. It is being published as a series of monographic examinations of fundamental questions on German, European and international insolvency legislation. As such, this series contributes to the legal dogmatic clarification of disputes as well as to the promotion of European integration of national insolvency legislation.

The insolvency law is one of the core components of the comprehensive body of legislation that ensures the confidence of the legal community in a legal system. It regulates the conditions of widespread debtor liability and at the same time defines the framework within which creditors can expect their rights to be preserved through a reorganization and recapitalization of the indebted company. The actual effect of the insolvency law does not end at a country's borders. Insolvency proceedings are structured according to the right to have universally applicable validity. Joint legislation on cross-border insolvency proceedings is now in effect in the form of intrastate legislation in almost all member states of the European Union. This shared European legislation is impacting intrastate reform processes and influencing the insolvency legislation. Furthermore, the intrastate legislation is being influenced by the UNCITRAL-Model law. Academic debate is increasingly concerned with the convergence movement that has been triggered as a result. Practical applications require legal dogmatic clarification of the increasingly complex regulations of insolvency legislation, and information on structures and problems of foreign European and extra-European insolvency laws, as well as and in particular with regard to its interaction with German laws. The DZWIR publication series is a forum of these discussions. It is being published as a series of monographic examinations of fundamental questions on German, European and international insolvency legislation. As such, this series contributes to the legal dogmatic clarification of disputes as well as to the promotion of European integration of national insolvency legislation.