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Debt Restructuring and Notions of FairnessBy Sarah Paterson (London School of Economics & Political Science) In a recent article, I argue that we have repeatedly failed to identify clearly our concerns for fairness in different types of debt restructuring situations, and that this has confused corporate bankruptcy policy debate. To defend the article’s thesis, I build a theoretical frame by unpacking the principles and the procedural demands of fairness from diverse fields of scholarship such as moral and political philosophy, biological sciences, psychology, organisation theory, group theory and economics. I apply this theoretical frame to three very different types of debt restructuring: a restructuring of a small or medium sized enterprise; a restructuring of a large corporate; and a restructuring of a financial institution in English law. In each case, a fairly typical fact pattern is outlined to ground the analysis, and the quality and extent of the fairness concerns examined....
Something to look forward to....This intriguing film still is from the fabled Lothar & Eva Just Film Stills Collection at the Harvard Film Archive. You can watch the trailer for this gem here and even watch the entire movie here! Director Sergio Martino made this film in Italy in 1983 and it was dubbed in both Italian and English, as was typical for this sort of picture....
Three Provocative Business Bankruptcy Decisions of 2018By Michael L. Cook (Schulte, Roth & Zabel LLP). The appellate courts have issued at least three provocative, if not questionable, business bankruptcy decisions in the past six months. Lakeridge: In March, 2018, the U.S. Supreme Court avoided the substantive merits of a 2016 split decision by the Ninth Circuit that had permitted a Chapter 11 debtor to manipulate the reorganization plan process. Despite the Court's narrow holding approving the Ninth Circuit's "clear error" standard for reviewing a bankruptcy court's fact findings, four Justices wrote two separate opinions challenging the Court's limited review of the Ninth Circuit's stunning decision in the face of a powerful dissent....