CreditSlips

Trump Wants to Buy Greenland for the U.S. – But Who Is the Relevant Seller?

08/18/19

(This post draws from my prior work with Joseph Blocher and the many conversations we have had about this topic over the years; he bears no responsibility for errors and sarcasm)

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Coyle on Studying the History of a Contract Provision

08/03/19

The way many of us teach interpretation in Contract Law, there is little role for history (admittedly, this is just based on casual observation).

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The Fifth Circuit Finds a Way to Make It Even Harder to Discharge Student Loans in Bankruptcy

08/02/19

On Tuesday, the United States Court of Appeals for the Fifth Circuit released an opinion that, if anything, makes it even more difficult to discharge student loans in bankruptcy. Writing for a three-judge panel in a case called In re Thomas, Judge Edith Jones reaffirmed the court's commitment to the existing case law and added yet another judicial gloss to the words of the statute.

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How NOT to Regulate ISAs

08/01/19
Income-sharing agreements or ISAs are becoming an increasingly popular way to finance higher education. The key problem that ISAs face as a product is uncertainty about their regulatory status. Are ISAs “credit” for various statutory purposes?
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Biden's Involvement in the Detroit Bankruptcy?

08/01/19

In the Democratic Primary debate last night, former Vice-President Joe Biden claimed to have been deeply involved in the Detroit bankruptcy: 

Q (Tapper): What do you say to progressives who worry that your proposals are not ambitious enough to energize the progressive wing of your party, which you will need to beat Donald Trump?

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Third Circuit Affirms Crystallex Attachment Order

07/29/19

Today, the U.S. Court of Appeals for the Third Circuit affirmed the order allowing jilted Canadian mining company Crystallex to attach PDVSA's equity stake in PDV-Holding (the corporate parent of CITGO). Here's the unanimous opinion.

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India to Issue its First Foreign Currency Sovereign Bond?

07/27/19

Mitu Gulati & Mark Weidemaier

The two of us are beginning a project to build a dataset of foreign currency sovereign bonds and their contract terms. The dataset of bond issuances has a conspicuous absence: India.

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Playing with Fire: The CFPB's Proposed Repeal of the "GSE Patch"

07/25/19
CFPB today put out an advance notice of proposed rulemaking to amend the Qualified Mortgage (QM) Rule by letting the "GSE Patch" expire.  What the Bureau is proposing is truly dangerous.  While I haven’t liked some of the Bureau's other proposed rules (including under the Cordray Directorship), none of them were an all-out ideological gamble with the economy. This one, in contrast, is really playing with fire.
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Ramming Bow Contracts

07/17/19

Have you heard of Ramming Bows? Or did you know that they describe a category of boilerplate contract provisions?  Until a couple of weeks ago, I had not either.  That was when I came across Glenn West’s two delightful blog posts at the Weil Gotshal & Manges site (here and here).

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