Position papers presented to National Bankruptcy Review Commission by CLLA on February 20, 1997

Article Abstract:

The Commercial Law League of America, in its Feb 1997 recommendations to the National Bankruptcy Review Commission, addressed a number of issues concerning Chapter 11, small businesses, mass torts, future claims, and ethics. Areas discussed include the s. 547(c)(2) ordinary course exception, third party releases, s. 365 time period exceptions, chapter 11 debtors' good faith filings under Chapter 11, the single asset real estate cap, the deemed filed rule, trust fund taxes, capital gains taxes, Chapter 20 filing limits, conflicts of interest, and successor liability.

Reports, Commercial law, Commercial Law League of America

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Is this plan feasible? An empirical legal analysis of plan feasibility

Article Abstract:

Chapter 11 reorganization plans can vary in their feasibility, according to empirical data compiled from actual cases. The data shows many plans initially considered to be feasible fail to consummate anyway. Courts need to be able to assess plans properly, while debtors must shoulder the burden of proof of feasibility. Plans and projects should be based on reasonable and provable assumptions in order to ensure feasibility.

Research, Bankruptcy reorganizations, Bankruptcy reorganization

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Bankruptcy fraud: crime without punishment II

Article Abstract:

Bankruptcy fraud is statutorily prohibited under section 152 of the Federal Criminal Code but infrequently prosecuted. This trend actually provides debtors with incentives to commit such fraud, since these individuals are emboldened by the apparent lack of enforcement. A Dept of Justice 1996 initiative focused its efforts on bankruptcy fraud, but long-term enforcement efforts are needed.

Laws, regulations and rules, Fraud

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