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Bob Lawless
University of Illinois
I'm a college professor with 3 kids.
Recent Activity
Wait a second. There is no recliner? I have been misled. Thank you, Melissa, for the undeserved kind words. By the way, there were seven of us who founded Credit Slips, and you were one of them.
A comic strip for the Credit Slips crowd from Stephan Pastis: Pearls Before Swine Comic Strip, March 06, 2015 on GoComics.com. Continue reading
Posted Mar 6, 2015 at Credit Slips
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Thanks to Epiq Systems, the latest monthly bankruptcy figures are out, and they show a 10.1% year-over-year decline. We now have had 52 straight months of year-over-year declines in the U.S. bankruptcy filing rate. The graph to the right shows... Continue reading
Posted Mar 5, 2015 at Credit Slips
With my attention drawn to other matters, my personal blogging has been light for the past month. One of the things that had my attention was the Caulkett case currently pending before the Supreme Court. The issue in Caulkett is... Continue reading
Posted Mar 5, 2015 at Credit Slips
It is with great pleasure that I welcome Professor Jay L. Westbrook of the University of Texas as a guest blogger for Credit Slips. To people in the bankruptcy community, Professor Westbrook needs no introduction. He is a leader in... Continue reading
Posted Feb 23, 2015 at Credit Slips
Credit Slips contributor Pamela Foohey has just posted her most recent work in her series of articles on churches in bankruptcy. I have been a big fan of this research project since Pamela was a fellow at the University of... Continue reading
Posted Feb 14, 2015 at Credit Slips
Credit Slips thanks Michelle Harner for guest blogging. She shared her own personal views about reforms for chapter 11. Although Harner was here in her personal capacity and speaking only for herself, her role as the reporter for the American... Continue reading
Posted Feb 2, 2015 at Credit Slips
What I don't understand is why this agreement does not violate some antitrust law or is prohibited under some trade agreement.
Toggle Commented Jan 27, 2015 on Why? Why? at Credit Slips
We want to thank Professor Matthew Bruckner of Howard University for hanging out at Credit Slips for a while. We appreciate him sharing his thoughts on some of the finance issues facing legal education and issues surrounding student debt. Continue reading
Posted Jan 21, 2015 at Credit Slips
Those fascinated by the logic and limits of the Bankruptcy Clause, Article III courts, and bankruptcy courts power will want to check out the most recent issue of the Amercan Bankruptcy Law Journal (vol. 88, no. 4): Kurt F. Gurynne,... Continue reading
Posted Jan 20, 2015 at Credit Slips
We are happy to welcome back Professor Michelle Harner of the University of Maryland and the reporter for the American Bankruptcy Institute's Commission to Study the Reform of Chapter 11. Harner has kindly offered to blog on her perspectives on... Continue reading
Posted Jan 19, 2015 at Credit Slips
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The final count for 2014 U.S. bankruptcy filings is in, thanks to the data from the ever-helpful Epiq Systems. There was a total of 910,090 total bankruptcies in 2014, a decline of 11.8% from the previous year. In early June,... Continue reading
Posted Jan 8, 2015 at Credit Slips
In November, the American Bar Association issued a formal opinion that it was unethical for prosecutors to allow debt collectors to use prosecutorial letterhead when no member of the prosecutor's staff reviews the file to determine if it is likely... Continue reading
Posted Jan 8, 2015 at Credit Slips
I am clearly a little biased because I teach Professor Lawless's Secured Transactions class. (Hi, Ben!) What concerns me is the larger pattern of a flight away from teaching legal doctrine of all types in the law schools. I don't know if the bar exam decisions reflect that pattern, but it seems likely.
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Our friend and co-blogger, Jean Braucher, passed away a week ago today. Our first post here on Credit Slips had only a few paragraphs about her contributions to our professional community. There was a lot more to say about Jean.... Continue reading
Posted Dec 2, 2014 at Credit Slips
It is with great sadness that I pass along the news that Jean Braucher passed away yesterday. Jean was my co-author, my co-blogger, and my friend. This news came suddenly this morning for all but her closest family and friends... Continue reading
Posted Nov 26, 2014 at Credit Slips
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The headline for this post will be mysterious and perhaps slightly salacious in a general newsfeed, but bankruptcy experts will know it means the time is nigh in the 11th Circuit for lien strip-offs. The Supreme Court agreed to hear... Continue reading
Posted Nov 17, 2014 at Credit Slips
Bob Lawless is now following Illinois Law Faculty
Nov 5, 2014
Courtesy of Jack Ayer, professor emeritus of law and polymathy, comes the following from the Wikipedia entry on Modigliani -- Amedeo, not Franco: Modigliani was the fourth child, whose birth coincided with the disastrous financial collapse of his father's business... Continue reading
Posted Nov 1, 2014 at Credit Slips
Almost two weeks ago now, the Delaware Supreme Court handed down its decision over J.P. Morgan's mistaken termination statement in the General Motors bankruptcy. (Note to Google Chrome users like me -- the link may not work; try a different... Continue reading
Posted Oct 30, 2014 at Credit Slips
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I am obsessively interested in two things -- bankruptcy and Formula One auto racing. I feed the first interest through this blog. The second interest is tended to by watching way, way too much Formula One on television. Indeed, the... Continue reading
Posted Oct 27, 2014 at Credit Slips
Good points, David. Almost any social phenomenon has multiple reasons, and legal differences (esp. state collection laws) undoubtedly play some role. Perhaps a more careful way to rephrase my point is that "culture" plays a bigger role than we often believe. Remember Barry Scholnick's work from Canada about the network effects of bankruptcy filings (see http://www.creditslips.org/creditslips/ScholnickAuthor.html). The more people you know who file bankruptcy, the more likely you are to file bankruptcy.
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Bankruptcy filings have dipped to their lowest rate since 1990, as previously blogged (ignoring anomalous statistical gyrations around the 2005 changes to the bankruptcy law). Over the past twelve months the bankruptcy filing rate per 1,000 persons has been 2.95,... Continue reading
Posted Oct 10, 2014 at Credit Slips
Professor Bill Whitford of the University of Wisconsin will be an intellectual hero to many of the Credit Slips readers and contributors. Bill has done pathbreaking work in consumer bankruptcy law, consumer law, and corporate reorganizations. On October 24, the... Continue reading
Posted Oct 5, 2014 at Credit Slips
Former Credit Slips blogger Elizabeth Warren who also happens to be the senior senator from Massachusetts was a category on Jeopardy! last night. H/T to the WSJ's Bankruptcy Beat, which has a more complete story on the topic including the... Continue reading
Posted Oct 2, 2014 at Credit Slips