CreditSlips

New ABI Commission on Consumer Bankruptcy

03/13/17

The American Bankruptcy Institute announced this morning that it has convened a commission to study and propose reforms of the US consumer bankruptcy system. In light of the success of ABI's Chapter 11 commission, we can expect big things from this commission on Chapters 7 and 13.

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Bankruptcy and Non-Bankruptcy Options for PDVSA

03/12/17

This is a joint post by Mark Weidemaier and  Mitu Gulati.

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Euro-Area Redenomination Risk and the Gold Clause Cases

03/06/17

This is a joint post by Mitu Gulati and Mark Weidemaier.

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New Article from the Consumer Bankruptcy Project: Attorneys’ Fees and Chapter Choice

03/06/17

Many of us on Credit Slips have been part of the Consumer Bankruptcy Project (CBP), a long-term research project studying people who file chapter 7 and 13 bankruptcy. Several years ago, some of us blogged about the writings from the last CBP iteration in 2007.  In 2013, the CBP was relaunched as an ongoing data collection effort.

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Everything You Wanted to Know About Bond Workouts But Were Afraid to Ask

03/05/17

There's a great new paper available on out-of-court restructuring and the Trust Indenture Act.   The New Bond Workouts is up on SSRN.  From the abstract it sounds pretty darn amazing—a new, empirically based analysis of bond restructurings that rediscovers a long-forgotten intercreditor duty of good faith: 

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A Century of... Not Much for Puerto Rico

03/05/17

This is a joint post by Mitu Gulati and Mark Weidemaier   

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Arbitrating the Discharge

03/02/17

The Second Circuit currently has a pending case (Anderson v. Credit One Bank, No. 16-2496) that raises the question of whether an alleged violation of the bankruptcy discharge injunction is subject to a predispute arbitration agreement. Professors Ralph Brubaker and Bruce Markell have joined me on an amicus brief explaining why the answer has to be "no." You can download the brief from SSRN.

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Marblegate and the Use of Exit Consents to Restructure (Venezuelan) Sovereign Debt

02/25/17

This is a joint post by Mark Weidemaier and Mitu Gulati.

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