What Should Judges Do in Chapter 11
This piece contends that doctrinal corporate bankruptcy reforms, however wise, will be incomplete without deeper consideration of the role of various institutional actors, particularly judges and courts. The bankruptcy system sends mixed messages to judges. Drafters of the 1978 Bankruptcy Code exhorted judges to be no more or less than umpires of discrete disputes raised by the parties. Today's bankruptcy system, however, imposes greater, and conflicting, expectations: to promote quick resolution of disputes through encouraging party settlement, but also to exercise independent oversight even if no party in interest objects - sometimes without a clear sense of how the court should gather the information to make such a judgment. These tensions are not unique to bankruptcy; they also arise in civil actions, both simple and complex, in federal district courts. Managing them, however, is essential to changing the dynamics of modern corporate bankruptcy and, therefore, to the project of reform.
The Law of Failure
If a broker-dealer liquidates in federal bankruptcy court, why does an insurance company liquidate in state court, and a bank outside of court altogether? Why do some businesses re-organize under state law 'assignments', rather than the more well-known Chapter 11 of the Bankruptcy Code? Why do some laws use the language of bankruptcy but without advancing policy goals of the Bankruptcy Code? In this illuminating work, Stephen J. Lubben tackles these questions and many others related to the collective law of business insolvency in the United States. In the first book of its kind, Lubben notes the broad similarities between the many insolvency systems in the United States while describing the fundamental differences lurking therein. By considering the whole sweep of these laws - running the gamut from Chapter 11 to obscure receivership provisions of the National Bank Act - readers will acquire a fundamental understanding of the 'law of failure'.
Modern legal ethics
Authoritative coverage focuses on a lawyer's fiduciary responsibility. Text describes the legal profession's self-regulatory system and the professional codes that have emerged. Examines lawyers and the legal profession, including regulation and discipline. Provides a detailed discussion of the client-lawyer relationship. Judges and the quality of justice are also addressed. Provides systematic examination of the issues covered in the 1969 Code of Professional Responsibility and the 1983 Model Rules of Professional Conduct.