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The Law of Failure - A Tour Through the Wilds of American Business Insolvency Law (Hardcover)
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The Law of Failure - A Tour Through the Wilds of American Business Insolvency Law (Hardcover)
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If a broker-dealer liquidates in federal bankruptcy court, why does
an insurance company liquidate in state court, and a bank outside
of court altogether? Why do some businesses re-organize under state
law 'assignments', rather than the more well-known Chapter 11 of
the Bankruptcy Code? Why do some laws use the language of
bankruptcy but without advancing policy goals of the Bankruptcy
Code? In this illuminating work, Stephen J. Lubben tackles these
questions and many others related to the collective law of business
insolvency in the United States. In the first book of its kind,
Lubben notes the broad similarities between the many insolvency
systems in the United States while describing the fundamental
differences lurking therein. By considering the whole sweep of
these laws - running the gamut from Chapter 11 to obscure
receivership provisions of the National Bank Act - readers will
acquire a fundamental understanding of the 'law of failure'.
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