This book adds to the debate on the effects of covenants on third-party creditors (externalities), which have recently become a focus of discussion in the contexts of bankruptcy law, corporate law and
"The most dishonorable act that can dishonor a man." Such is Félix Grandet’s unsparing view of bankruptcy, adding that even a highway robber—who at least "risks his own life in attacking you"—is worth
In 2005, more than two million Americans--six out of every 1,000 people--filed for bankruptcy. Though personal bankruptcy rates have since stabilized, bankruptcy remains an important tool for the reli
Rudy Baylor, a new law school graduate, once dreamed of the good life as a corporate attorney. Now he faces joblessness and bankruptcy--unless he can win an insurance case against a heavyweight team o
Series: Cultural Diversity and LawPersonal Insolvency Law, Regulation and Policy presents a critical analysis of the regimes of bankruptcy and individual voluntary arrangement in the context of curren
Series: Critical Concepts in PhilosophyChina has recently entered a significant stage in its economic transition with the introduction of a new and seemingly sophisticated bankruptcy law. However, it
#1 New York Times bestselling author John Grisham is the acknowledged master of the legal thriller. In his first collection of novellas, law is a common thread, but America’s favorite storyteller has several surprises in store. “Homecoming” takes us back to Ford County, the fictional setting of many of John Grisham’s unforgettable stories. Jake Brigance is back, but he’s not in the courtroom. He’s called upon to help an old friend, Mack Stafford, a former lawyer in Clanton, who three years earlier became a local legend when he stole money from his clients, divorced his wife, filed for bankruptcy, and left his family in the middle of the night, never to be heard from again—until now. Now Mack is back, and he’s leaning on his old pals, Jake and Harry Rex, to help him return. His homecoming does not go as planned. In “Strawberry Moon,” we meet Cody Wallace, a young death row inmate only three hours away from execution. His lawyers can’t save him, the courts sl
Law can no longer be viewed through a purely national lens. Transnational legal ordering affects the boundary of the state and the market, the allocation of power among national institutions, the role of professions and their expertise, and associational patterns that provide new normative frames. This book breaks new ground for understanding the impacts of transnational legal ordering within nation-states in today's globalized world. The book addresses the different dimensions of state change at stake and the factors that determine these impacts. It brings together leading scholars from sociology and law who study the effects of transnational legal ordering within different countries. Their case studies illustrate how transnational legal ordering interacts with national law and institutions in different regulatory areas, and cover anti-money laundering, bankruptcy, competition, education, intellectual property, health, and municipal water law and policy in different countries. The boo
The first comprehensive empirical study on corporate bankruptcy reorganizations in the second largest economy, China, investigating the formal corporate restructurings handled by China's courts between 2007 and 2015. The data and analysis presented in the book provide a unique lens from which China's newly-enacted Chapter 11-styled corporate reorganization law, both in the books and in practice, can be understood and from which the interaction between business and state in dealing with corporate bankruptcies in China could be better comprehended. This book benefits from the author's ten-year business law practice in China, and his insights on China's judicial and political system considerably enrich the arguments. In particular, this book sheds light on commencement of bankruptcy reorganizations, control models, corporate reorganization financing, value distribution, approval of reorganization plans and cross-border reorganizations under the China Enterprise Bankruptcy Law of 2006.
Faced with a systemic financial sector crisis, policymakers need to make difficult choices under pressure. Based on the experience of many countries in recent years, few have been able to achieve a speedy, lasting and low-cost resolution. This volume considers the strengths and weaknesses of the various policy options, covering both microeconomic (including recapitalization of banks, bank closures, subsidies for distressed borrowers, capital adequacy rules and corporate governance and bankruptcy law requirements) and macroeconomic (including monetary and fiscal policy) dimensions. The contributors explore the important but little understood trade-offs that are involved, such as between policies which take effect quickly, those which minimize long-term fiscal and economic costs, and those which create favorable incentives for future stability. Successfully implementing crisis management and crisis resolution policy required attention to detail and a good flow of information.
This book offers a path-breaking, empirically grounded theory that reframes the study of law and society. It shifts research from a predominantly national context to one that places transnational, national and local lawmaking and practice within a single, coherent, analytic frame. By presenting and elaborating a new concept, transnational legal orders, Halliday and Shaffer present an original approach to legal orders that affect fundamental economic and social behaviors. The contributors generate arrays of hypotheses about how transnational legal orders rise and fall, where they compete and cooperate, and how they settle and unsettle. This original theory is applied and developed by distinguished scholars from North America, Europe and Asia in business law (taxation, corporate bankruptcy, secured transactions, transport of goods by sea), regulatory law (monetary and trade, finance, food safety, climate change), and human rights law (civil and political rights, rule of law, right to hea
Since 1979 the world has witnessed a remarkable cycle of individual bankruptcy law reform. Changes in capitalist economies, financial crises and political interest groups all contributed to this cycle
The essays in this collection use interdisciplinary perspectives to investigate issues in international and comparative law, primarily employing theoretical or empirical economics. They demonstrate that the economic analysis of law has much to contribute to the study of international matters, despite the fact that mainstream international legal scholars and economists have had relatively little interaction. The essays take comparative or empirical approaches to explore themes in international trade, trade and the environment, law and development, the political economy of privatization and exchange rate policies, economic theories of international institutional design, immigration policy, comparative bankruptcy, international antitrust, and extraterritorial jurisdiction.
The essays in this collection use interdisciplinary perspectives to investigate issues in international and comparative law, primarily employing theoretical or empirical economics. They demonstrate that the economic analysis of law has much to contribute to the study of international matters, despite the fact that mainstream international legal scholars and economists have had relatively little interaction. The essays take comparative or empirical approaches to explore themes in international trade, trade and the environment, law and development, the political economy of privatization and exchange rate policies, economic theories of international institutional design, immigration policy, comparative bankruptcy, international antitrust, and extraterritorial jurisdiction.
This collection is the first comprehensive selection of readings focusing on corporate bankruptcy. Its main purpose is to explore the nature and efficiency of corporate reorganisation using interdisciplinary approaches drawn from law, economics, business, and finance. Substantive areas covered include the role of credit, creditors' implicit bargains, non-bargaining features of bankruptcy, workouts of agreements, alternatives to bankruptcy, and proceedings in countries other than the United States, including the United Kingdom, Europe, and Japan.
Faced with a systemic financial sector crisis, policymakers need to make difficult choices under pressure. Based on the experience of many countries in recent years, few have been able to achieve a speedy, lasting and low-cost resolution. This volume considers the strengths and weaknesses of the various policy options, covering both microeconomic (including recapitalization of banks, bank closures, subsidies for distressed borrowers, capital adequacy rules and corporate governance and bankruptcy law requirements) and macroeconomic (including monetary and fiscal policy) dimensions. The contributors explore the important but little understood trade-offs that are involved, such as between policies which take effect quickly, those which minimize long-term fiscal and economic costs, and those which create favorable incentives for future stability. Successfully implementing crisis management and crisis resolution policy required attention to detail and a good flow of information.
Law can no longer be viewed through a purely national lens. Transnational legal ordering affects the boundary of the state and the market, the allocation of power among national institutions, the role of professions and their expertise, and associational patterns that provide new normative frames. This book breaks new ground for understanding the impacts of transnational legal ordering within nation-states in today's globalized world. The book addresses the different dimensions of state change at stake and the factors that determine these impacts. It brings together leading scholars from sociology and law who study the effects of transnational legal ordering within different countries. Their case studies illustrate how transnational legal ordering interacts with national law and institutions in different regulatory areas, and cover anti-money laundering, bankruptcy, competition, education, intellectual property, health, and municipal water law and policy in different countries. The boo
When States Go Broke collects insights and analysis from leading academics and practitioners that discuss the ongoing fiscal crisis among the American states. No one disagrees with the idea that the states face enormous political and fiscal challenges. There is, however, little consensus on how to fix the perennial problems associated with these challenges. This volume fills an important gap in the dialogue by offering an academic analysis of the many issues broached by these debates. Leading scholars in bankruptcy, constitutional law, labor law, history, political science and economics have individually contributed their assessments of the origins, context and potential solutions for the states in crisis. It presents readers - academics, policy makers and concerned citizens alike - with the resources to begin and continue that important, solution-oriented conversation.
