Testing the limits of judicial discretion in Chapter 11: the doctrine of necessity and third party releases

Article Abstract:

Judicial discretion to create equitable remedies such as the doctrine of necessity and third party releases is warranted under bankruptcy law, but such remedies should be limited to extraordinary situations and used in accordance with the underlying policies of bankruptcy reorganization. Bankruptcy courts exercising their broad equitable powers under section 105(a) of the Bankruptcy Code have used mootness doctrine and res judicata to overcome creditors' objections to such remedies. However, judicial discretion under Chapter 11 should be broad, but not unlimited.

United States, Analysis, Remedies, Bankruptcy law, Judicial discretion, Equitable remedies

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Trading claims in Chapter 11 cases: legal issues confronting the postpetition investor

Article Abstract:

Claims against and interests in chapter 11 debtors have become increasingly popular as investments, and courts have recently begun to intervene to prevent perceived abuses. Bankruptcy Rule 3001(e) is the only legal provision governing trading in these claims and interests; an amendment is being considered by the Supreme Court. Courts have emphasized the need for adequate disclosure when investors solicit claims, but uniform guidelines have not been established.

Bankruptcy estates

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Commentary on Mr. Charles' paper: postpetition investor

Article Abstract:

The presentation by Scott K. Charles on investing in Chapter 11 claims and interests is the topic of comments and open discussion by participants in a bankruptcy law symposium held at New York University School of Law, Apr 12, 1991. Problems with claims trading, its influence on the bankruptcy process and the court intervention in the Allegheny case are among the topics discussed.

Beliefs, opinions and attitudes, Criticism and interpretation, Panel Discussion, Rosen, Leonard M., Trepper, Myron, Charles, Scott K.

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