American Bankruptcy Law Journal

The stated purpose of the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (“BAPCPA”)1 is to “improve bankruptcy law and practice by restoring personal responsibility and integrity in the bankruptcy system and ensure that the system is fair for both debtors and creditors.”2 Its legislative history stretches over almost a decade, but each iteration of it continued the same core features, the most predominant of which is a complex “means test” to determine whether a debtor may file a Chapter 7 case.3 This Article seeks to identify the constitutional issues most likely raised by BAPCPA. It cannot identify all that might possibly arise, as experience with the law will generate many questions that I cannot presently anticipate. Nor does it attempt to provide

Erwin Chemerinsky

The American bankruptcy law journal

Constitutional Issues Posed in the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005

2005年破产滥用预防和消费者保护法案中的宪法问题

This essay reviews the competing claims in the American Bankruptcy Law Journal’s “Vanishing Trials” symposium. The essay concludes the contributions to the symposium are not as disparate as they might at first appear. One must distinguish between the level of contentiousness in a legal system and the mechanisms by which the system resolves disputes in those proceedings that become contentious.

Robert M Lawless

Are bankruptcy's trials vanishing? if so, who cares?

破产的审判正在消失吗？如果是，谁在乎？

Christopher Klein

Lawrence Ponoroff

Sarah Borrey

Principles of preclusion and estoppel in bankruptcy cases

破产案件中排除原则与禁止反言原则

Stan Bernstein

Susan H. Seabury

Jack F. Williams

The Empowerment of Bankruptcy Courts in Addressing Financial Expert Testimony

破产法院在处理财务专家证词中的权力

Charles J Tabb

Consumer Bankruptcy Filings: Trends and Indicators (Part 2)

消费者破产申请：趋势与指标（第二部分）

In a chapter 13 case, a debtor is required to surrender his or her disposable income to a chapter 13 trustee for distribution to secured and unsecured creditors under the terms of a chapter 13 plan that must be approved, or confirmed, by the bankruptcy judge Upon successful completion of a chapter 13 plan, a chapter 13 debtor receives a discharge 7 Opening the door to the bankruptcy courts became more complex 2005, when Congress passed the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (BAPCPA) 8 Debtors now must meet certain eligibility criteria to file a chapter 7 case, and are required to undertake both pre- and post-filing credit counseling order to be eligible to file the (the prepetition counseling) and receive their discharge (the postpetition counseling) PAYING DEBTORS' PROFESSIONALS IN CHAPTER 13 CASES While it takes a bit of statute surfing to reveal the answer, a review of the Bankruptcy Code and a bit of law reveals that, chapter 13 cases, counsel for the debtor can be paid postpetition for services rendered both before and after the is filed Debtors' counsel chapter 13 cases are expressly included the list of professionals who may be compensated chapter 13 cases under 330(a)(4)(B): In a chapter 12 or chapter 13 which the debtor is an individual, the court may allow reasonable compensation to the debtor's attorney for representing the interests of the debtor connection with the bankruptcy based on a consideration of the benefit and necessity of such services to the debtor and the other factors set forth this section 12 The vast majority of courts have held counsel for debtors chapter 13 cases may be paid for both pre- and postpetition services under the terms of a chapter 13 plan, as all of those services are performed in connection with the bankruptcy case as contemplated by 330(a)(4) 13 But unfortunately there is no such administrative classification for payment of attorneys' fees to debt' ors' counsel chapter 7 cases

Terrence L. Michael

There's A Storm A Brewin': The Ethics and Realities of Paying Debtors' Counsel in Consumer Chapter 7 Bankruptcy Cases and the Need for Reform

"风暴正在酝酿"：消费者第7章破产案件中债务人律师费用的伦理与现实及改革需求

Douglas Baird

Making Sense of Make-Wholes

理解“整体制造”

C. Scott Pryor

Risham Garg

Differential Treatment Among Creditors Under India's Insolvency and Bankruptcy Code, 2016: Issues and Solutions

2016年印度《破产与破产法》下债权人差别待遇：问题与解决方案

The scheme of arrangement (‘scheme’) has historically been one of the most flexible and popular debt restructuring tools in Singapore and the United Kingdom (UK). Its chief attractions have been the ability of company management, often under the advice of an insolvency practitioner, to take the lead in the restructuring and to effect a ‘within-class’ creditor cram-down, thereby binding dissenting creditors within an accepting class to the terms of the scheme once the requisite approvals are obtained. Although the scheme procedure is created by legislation (and is found in the Companies Act 2006 (UK) and in the Companies Act (Singapore)), the law has largely been driven by judicial interpretation.

The scheme featured prominently in Singapore’s 2017 introduction of wide-ranging reforms to its insolvency and restructuring laws (2017 reforms) with a view to enhancing its attractiveness as an international centre for debt restructuring. Central to these reforms is the transplantation (with modification), of certain provisions from Chapter 11 in the United States Bankruptcy Code (Chapter 11), into the well-established scheme framework. The key question that this paper addresses is how well the English-modelled scheme has served as an effective debt-restructuring tool in Singapore, both pre- and post-2017 reforms. Existing bankruptcy scholarship considers that the core of any corporate reorganization theory is how the value of the restructured enterprise should be divided among the various claims and interests and there are several studies that examine how well the restructuring regime works in this context. In assessing how well the scheme has functioned, we make comparisons with the English schemes and Chapter 11 (from which the 2017 reforms have been derived). We evaluate the processes (such as the length of time for the restructuring to be approved by the court, costs and the information made available for the creditors to make voting decisions) and substantive outcomes (such as the haircut and dilution to shareholders’ interests) based on a mix of empirical and qualitative data.

Our paper is the first study to address these issues by using a mix of qualitative and quantitative data and case studies on Singapore schemes as debt restructuring tools that cover the 1996–2019 period. This period will cover the impact of the 2017 reforms. We seek to answer the following questions. First, what are the factors that are present in the successful schemes? In particular, do they require injection of external new financing and to what extent do shareholders provide such new funds? Second, how are schemes used to resolve outstanding claims by creditors and how much of the value is distributed among creditors and shareholders? Third, has the restructuring process resulted in considerable delay, potentially prejudicing creditors where the moratorium/stay of proceedings is in force? Fourth, how have the 2017 reforms introducing the Chapter 11 provisions affected the way in which schemes are filed? Our paper contributes to the literature on what is currently a dearth of larger scale empirical studies of English or English-modelled schemes.

Wai Yee Wan

Casey Watters

Gerard McCormack

Schemes of Arrangement in Singapore: Empirical and Comparative Analyses

新加坡安排计划：实证与比较分析

"风暴正在酝酿"：消费者第7章破产案件中支付债务人律师的伦理与现实及改革需求

短名
Journal Impact	0.70
国际分区	LAW(Q2)
期刊索引	中科院 3 区

ISSN	0027-9048
国内分区	社会学(3区)社会学法学(4区)

涉及主题	经济业务法学政治学财务破产社会学法律与经济学计算机科学精算学数学宏观经济学债务哲学债权人
出版信息	出版商: National Conference of Bankruptcy Judges，出版周期: ，期刊类型: journal，开源期刊: 否
基本数据	创刊年份: 2014，原创研究文献占比: 0.00%，自引率:0.00%， Gold OA占比: 0.00%

American Bankruptcy Law Journal

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Constitutional Issues Posed in the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005

Are bankruptcy's trials vanishing? if so, who cares?

Principles of preclusion and estoppel in bankruptcy cases

The Empowerment of Bankruptcy Courts in Addressing Financial Expert Testimony

Consumer Bankruptcy Filings: Trends and Indicators (Part 2)

There's A Storm A Brewin': The Ethics and Realities of Paying Debtors' Counsel in Consumer Chapter 7 Bankruptcy Cases and the Need for Reform

Making Sense of Make-Wholes

Differential Treatment Among Creditors Under India's Insolvency and Bankruptcy Code, 2016: Issues and Solutions

Schemes of Arrangement in Singapore: Empirical and Comparative Analyses

There's A Storm A Brewin': The Ethics and Realities of Paying Debtors' Counsel in Consumer Chapter 7 Bankruptcy Cases and the Need for Reform