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Bob Lawless
University of Illinois
I'm a college professor with 3 kids.
Recent Activity
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.
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
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
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 The more people you know who file bankruptcy, the more likely you are to file bankruptcy.
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
In June, I said we are on track for just over 900,000 bankruptcy filings for 2014. The latest data are in from Epiq Systems, and that 900,000 figure remains the best estimate for the calendar year. We have had 556,875... Continue reading
Posted Aug 6, 2014 at Credit Slips
At its annual meeting, the National Conference of Commissioners on Uniform State Laws (NCCUSL) formally adopted the Uniform Voidable Transactions Act (UVTA). Under its provisions, I believe it says any service member in uniform will be able to avoid a... Continue reading
Posted Jul 28, 2014 at Credit Slips
On behalf of everyone at Credit Slips, I want to express our profound sadness at hearing of the tragic and untimely passing of Professor Dan Markel. a professor of law at Florida State University and a prominent criminal law theorist.... Continue reading
Posted Jul 20, 2014 at Credit Slips
Today marks the eighth anniversary of the launch of Credit Slips. That means we have been around long enough to get tenure at most universities. Now, if we only can get through the review letters. One thing that I have... Continue reading
Posted Jul 18, 2014 at Credit Slips
I have explored the reasons for the trend in other posts. The short version is that it has a lot to do with the availability of bankruptcy alternatives and very little to do with overall economic conditions. Bankruptcy is a legal act with legal consequences and is not necessarily an indicator of prevailing economic conditions. Some of the highest bankruptcy filing rates occurred in boom economic times.
Bankruptcy filings have continued to decline in the first part of 2014. This decline is part of a longer-term trend as the graph shows. (Clicking on the graph will bring up a larger version in a pop-up box.) As always,... Continue reading
Posted Jun 4, 2014 at Credit Slips
The American Bankruptcy Institute (ABI) Commission on Chapter 11 Reform has been considering how to improve the chapter 11 process. Among the thorniest issues the ABI Commission has faced is how to fairly balance the interests of secured creditors with... Continue reading
Posted Jun 4, 2014 at Credit Slips
If you are a long-time reader of Credit Slips, first thank you. Second, you probably noticed we were off the air earlier in the week. Our blog hosting service, Typepad, was the victim of a criminal denial-of-service attack. According to... Continue reading
Posted Apr 24, 2014 at Credit Slips
On behalf of everyone at Credit Slips, I wanted to thank Professor Javier Arias of the Universidad Rey Juan Carlos and Professor Andrew Dawson of the University of Miami. It takes time out of a busy schedule to contribute to... Continue reading
Posted Apr 3, 2014 at Credit Slips
Two weeks ago, I wrote a post based on Lynn LoPucki's observation that Article 9 of the Uniform Commercial Code (UCC) might be Bitcoin's Achilles heel. From that experience, I learned that the surest way to get attention for a... Continue reading
Posted Mar 28, 2014 at Credit Slips
As noted by America's finest news source here. Continue reading
Posted Mar 22, 2014 at Credit Slips
If you are looking for trite and oversimplified assertions about bankruptcy stigma, then stay away from the latest issue of the American Bankruptcy Law Journal. In those pages, Professor Michael Sousa from the University of Denver has a wonderful paper... Continue reading
Posted Mar 18, 2014 at Credit Slips
Yeah, Jack, except for the fact there is a statute here with very precise language. Or, another way to put it is mankind may consider the painting hanging in the bank lobby to be art, but to the UCC, it is equipment.