Courting Failure: How Competition for Big Cases Is Corrupting the Bankruptcy Courts

Courting Failure: How Competition for Big Cases Is Corrupting the Bankruptcy Courts
ISBN-10
0472024310
ISBN-13
9780472024315
Category
Law
Pages
336
Language
English
Published
2010-06-02
Publisher
University of Michigan Press
Author
Lynn M. LoPucki

Description

LoPucki's provocative critique of Chapter 11 is required reading for everyone who cares about bankruptcy reform. This empirical account of large Chapter 11 cases will trigger intense debate both inside the academy and on the floor of Congress. Confronting LoPucki's controversial thesis-that competition between bankruptcy judges is corrupting them-is the most pressing challenge now facing any defender of the status quo." -Douglas Baird, University of Chicago Law School "This book is smart, shocking and funny. This story has everything-professional greed, wrecked companies, and embarrassed judges. Insiders are already buzzing." -Elizabeth Warren, Leo Gottlieb Professor of Law, Harvard Law School "LoPucki provides a scathing attack on reorganization practice. Courting Failure recounts how lawyers, managers and judges have transformed Chapter 11. It uses empirical data to explore how the interests of the various participants have combined to create a system markedly different from the one envisioned by Congress. LoPucki not only questions the wisdom of these changes but also the free market ideology that supports much of the general regulation of the corporate sector." -Robert Rasmussen, University of Chicago Law School A sobering chronicle of our broken bankruptcy-court system, Courting Failure exposes yet another American institution corrupted by greed, avarice, and the thirst for power. Lynn LoPucki's eye-opening account of the widespread and systematic decay of America's bankruptcy courts is a blockbuster story that has yet to be reported in the media. LoPucki reveals the profound corruption in the U.S. bankruptcy system and how this breakdown has directly led to the major corporate failures of the last decade, including Enron, MCI, WorldCom, and Global Crossing. LoPucki, one of the nation's leading experts on bankruptcy law, offers a clear and compelling picture of the destructive power of "forum shopping," in which corporations choose courts that offer the most favorable outcome for bankruptcy litigation. The courts, lured by big money and prestige, streamline their requirements and lower their standards to compete for these lucrative cases. The result has been a series of increasingly shoddy reorganizations of major American corporations, proposed by greedy corporate executives and authorized by case-hungry judges.

Get the book

Amazon.com
Amazon.com
Search the book
eBay.com
eBay.com
Search the book

Other editions

Similar books

  • Property Law: Rules, Policies, and Practices
    Property Law: Rules, Policies, and Practices
    By Joseph William Singer, Bethany R. Berger, Nestor M. Davidson

    See also Country Community Timberlake Village v. HMW Special Utility District of Harris, 438 S.W.3d 661 (Tex. Ct. App. 2014) (holding that a neighboring ...

  • Entertainment Law and Business
    Entertainment Law and Business
    By William D. Henslee, Elizabeth Henslee

    After Justin Timberlake exposed Janet Jackson's pierced nipple on national television for 9/16ths of a second, the FCC received over 540,000 complaints.

  • The Common Law in Colonial America: Volume III: The Chesapeake and New England, 1660-1750
    The Common Law in Colonial America: Volume III: The Chesapeake and New England, 1660-1750
    By William E. Nelson

    Volume III: The Chesapeake and New England, 1660-1750 William E. Nelson ... Decision of Law, Surry County Ct. 1673/74, in Eliza Timberlake Davis ed., ...

  • The Indiana State Constitution
    The Indiana State Constitution
    By William P. McLauchlan

    E. Edwards v. California, 314 U.S. 160 (1941), 66 Edwards v. Housing Authority of City of ... Timberlake, 148 Ind. 38,46 N.E.339 (1897), 69,70 Graves v.

  • Child Support Guidelines: Interpretation and Application
    Child Support Guidelines: Interpretation and Application
    By Laura W. Morgan

    Fitzgerald, 4.08[B][2], 5.05[D] Fitzgerald v. ... Mastrapa-Font, 7.03[A][3] Fontaine, In re, 5.05[D] Fontenette v. ... Frost, 5.05[A] Formato v.

  • Maritime Fraud and Piracy
    Maritime Fraud and Piracy
    By Paul Todd

    The sole remedy is avoidance, however; damages cannot be claimed under s. ... 17, it places a great deal of power in the hands of insurance companies to ...

  • Principles of the Carriage of Goods by Sea
    Principles of the Carriage of Goods by Sea
    By Paul Todd

    Normally, a mate«s receipt would later be given up for a bill of lading, ... they necessarily prejudice the rights of those who deal in the goods ...

  • Maryland Employment Law
    Maryland Employment Law
    By Stanley Mazaroff, Todd Horn

    27 257 U.S. 184, 42 S. Ct. 72, 66 L. Ed. 189 (1921). ... 38 Argensinger, “Right to Strike”: Labor Organization and the New Deal in Baltimore, 78 MD . HIST .

  • Contract Law in New Zealand
    Contract Law in New Zealand
    By Stephen Todd, Jeremy Finn

    704 Contract and Commercial Law Act 2017, s. 80. 705 Leith v. Gould [1986] 1 NZLR 760. It is not clear how a New Zealand court would deal with a case such ...

  • Tort Law in New Zealand
    Tort Law in New Zealand
    By Stephen Todd

    ... to meet the reasonable expectations of claimants about how the corporation should deal with them, by, inter alia, ... 7 Treaty of Waitangi Act 1975, s.