Noncompetition agreements in bankruptcy: covenants (maybe) not to compete

Article Abstract:

Noncompetition agreements are less firm due to confusion over Bankruptcy Code section 365(a) concerning the rejection of executory contracts which courts are interpreting to throw out the noncompetition agreements in the rejected contracts. This philosophy needs to be corrected by Congress, who should allow the contracts to be rejected but maintain the noncompetition agreements because the inability to secure a firm noncompetition agreement may make companies less willing to invest in employees.

Non-competition agreements, Noncompete agreements, Breach of contract

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Obtaining jurisdiction over states in bankruptcy proceedings after Seminole Tribe

Article Abstract:

The US Supreme Court's decision in Seminole Tribe v. Florida allowing states to claim 11th Amendment immunity in bankruptcy litigation reduces the bankruptcy courts' jurisdiction over the states. Bankruptcy Code provisions, however, such as the automatic stay would still apply, limiting Seminole's effects. Courts can further reduce Seminole's negative effects by determining the scope of the waiver for immunity and by enjoining individual state officials under the Ex parte Young doctrine.

Government liability, Jurisdiction, Federal-state controversies, states

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Why it pays to file for bankruptcy: a critical look at the incentives under U.S. personal bankruptcy law and a proposal for change

Article Abstract:

The US bankruptcy code encourages wealthy households to file for bankruptcy including those with apparent ability to meet their debt obligations. Reforms should include combining Chapters 7 and 13 and restructuring the asset exemption provisions. These changes would deter wealthier households from seeking to financially benefit from filing personal bankruptcy petitions.

Financial planning

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