An empirical survey and proposed Bankruptcy Code section concerning the propriety of bidding incentives in a bankruptcy sale of assets

Article Abstract:

An ex ante analysis should be employed instead of the current ex post approach to evaluate the propriety of bidding incentives in bankruptcy asset sales. The current approach is the result of bankruptcy courts' adopting law from the takeover context without fully appreciating the differences between normal takeovers and sales of assets in bankruptcy. Instead, these cases are most similar to Revlon duty-to-auction cases. This analysis suggests that bidding incentives should be limited to topping fees or break-up fees, and a proposed Bankruptcy Code section codifying such limits is provided.

Economic aspects, Bankruptcy law

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Ethical dilemmas and the multistate lawyer: a proposed amendment to the choice-of-law rules in the Model Rules of Professional Conduct

Article Abstract:

Personal jurisdiction analysis based on minimum contacts should be integrated into the choice-of-law rules governing legal ethics dilemmas faced by lawyers practicing in multiple jurisdictions. 1993 amendments to Rule 8.5 of the Model Rules of Professional Conduct are inadequate because they do not make use of traditional conflicts of law principles and because the predominant effects test provides little guidance. Federalization of ethical rules is not a solution because it would encroach on states' rights and because most lawyers do not engage in multistate practices.

United States, Laws, regulations and rules, Personal jurisdiction, Conflict of laws, states

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Keeping sex out of the attorney-client relationship: a proposed rule

Article Abstract:

An ethical rule should be adopted by the legal profession to ban the initiation of sexual relations between attorney and client during representation. Such relations are unethical because of the power imbalance which is inherent in the attorney-client relationship. Current approaches based on conflict of interest, misconduct and breach of fiduciary duty have been inadequate. Therefore, the issue should be dealt with directly by the adoption of a rule, as other professions have done.

Social aspects, Standards, Sexual ethics, Practice of law, Attorney and client

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