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Melissa Jacoby
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Commercial and Contract Law: Questions, Ideas, Jargon
In the Spring I am teaching a research and writing seminar called Advanced Commercial Law and Contracts. Credit Slips readers have been important resources for project ideas in the past, and I'd appreciate hearing what you have seen out in... Continue reading
Posted Dec 1, 2020 at Credit Slips
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American Predatory Lending and the North Carolina model
My coauthor Ed Balleisen has co-founded a program on consumer lending of interest to Credit Slips readers. Its initial data collection is particularly useful in documenting the North Carolina experience and its implications for other states. The quote below is... Continue reading
Posted May 22, 2020 at Credit Slips
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The Purdue Pharma Bankruptcy
By filing a bankruptcy petition last week, Purdue Pharma is automatically protected against many types of collection and litigation by operation of federal law. Seeking to turn this already-potent shield into something more formidable, the company has asked a bankruptcy... Continue reading
Posted Sep 23, 2019 at Credit Slips
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The Weinstein Company Bankruptcy: What She Said
Nearly a year has passed since my last Credit Slips post on The Weinstein Company bankruptcy. The case, filed March 2018, remains open. Contract disputes have dominated many if not most bankruptcy court hearings this past year. The issues have... Continue reading
Posted Sep 9, 2019 at Credit Slips
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Lowdermilk on Family Farmers in Financial Trouble - new paper!
Jamey Mavis Lowdermilk has just posted an article of interest to Credit Slips readers -- lawyers, judges, journalists, policymakers, and more. The article uses a case study of a chapter 12 family farm bankruptcy in North Carolina to ask bigger... Continue reading
Posted Jun 28, 2019 at Credit Slips
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PROMESA heads to the U.S. Supreme Court?
In February 2019, the United States Court of Appeals for First Circuit held that the selection process of the Oversight Board in PROMESA, the rather bipartisan Puerto Rico debt restructuring law (and more), is unconstitutional. The reason: its members were... Continue reading
Posted Jun 24, 2019 at Credit Slips
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New (From the Archives) Paper on Determinants of Personal Bankruptcy
This working paper is a longitudinal empirical study of lower-income homeowners, including a subset of bankruptcy filers, produced with an interdisciplinary team of cross-campus colleagues, including Professor Roberto Quercia, director of UNC's Center for Community Capital. We just posted this... Continue reading
Posted Feb 13, 2019 at Credit Slips
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New Paper: Consumer Protection After the Global Financial Crisis
Historian Ed Balleisen and I have just posted a paper of interest to Credit Slips readers who are interested in consumer protection, financial crises, and inputs into post-crisis policymaking more generally. I will let the abstract speak for itself: Consumer... Continue reading
Posted Feb 13, 2019 at Credit Slips
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Seeking nominations for the Grant Gilmore Award
Posted Dec 4, 2018 at Credit Slips
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What Skews the Public-Private Balance in Corporate Bankruptcy Cases?
In a prior Credit Slips post, I shared a paper, Corporate Bankruptcy Hybridity, positing that bankruptcy should be conceptualized as a public-private partnership. The second section of Corporate Bankruptcy Hybridity identifies factors that have skewed the Bankruptcy Code's ideal balance... Continue reading
Posted Sep 13, 2018 at Credit Slips
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In the Zone: The Weinstein Co. Chapter 11 Hearings #9-13
Since my last Credit Slips post about The Weinstein Co. chapter 11, there have been five public hearings/status conferences (some of which were telephonic). Disparate observations from those hearings below. Shaping public beliefs about a criminal charge through the bankruptcy... Continue reading
Posted Sep 12, 2018 at Credit Slips
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Corporate Bankruptcy as a Public-Private Partnership
I have just posted on the Social Science Research Network a forthcoming article called Corporate Bankruptcy Hybridity. Although the article has several intersecting objectives, today's post focuses on the first aim: conceptualizing corporate bankruptcy as a public-private partnership. A public-private... Continue reading
Posted Aug 20, 2018 at Credit Slips
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Silver Linings Playbook: The Weinstein Co. Chapter 11 Hearings #7 & #8
Posted Jul 25, 2018 at Credit Slips
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Keeping up with the Appointments Clause: Puerto Rico bankruptcy update
In January I wrote about Aurelius seeking a do-over. In a carefully reasoned thirty-five page decision, the district court has denied the do-over. Put more legally, the court held that PROMESA's method of establishing the Puerto Rico Oversight Board did... Continue reading
Posted Jul 13, 2018 at Credit Slips
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Keeping up with the Contracts Clause: the Supreme Court's decision in Sveen v. Melin
In June 2018, the U.S. Supreme Court decided Sveen v. Melin, a case applying Contracts Clause* jurisprudence to a state revocation-on-divorce statute and preexisting insurance contract. It isn't like the Supreme Court hears a Contracts Clause case every week, every... Continue reading
Posted Jul 12, 2018 at Credit Slips
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Hurry Up and Wait: The Weinstein Co. Chapter 11 Hearing #6
All Credit Slips readers are old enough to remember when a quick going-concern sale of The Weinstein Company was said to be imperative. So much so that even the seemingly skeptical creditors' committee ultimately went along, thus making the request... Continue reading
Posted Jun 25, 2018 at Credit Slips
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The Weinstein Co. Chapter 11 Hearing #5
The fifth hearing in The Weinstein Co. chapter 11 occurred on June 5, 2018. The hearing included discussion about when the sale to Lantern Capital, approved by the court in early May, will actually close. Among other regulatory and transactional... Continue reading
Posted Jun 11, 2018 at Credit Slips
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Thanks for the comments, Adam.
The committee has been vocal at hearings on need for allocation - at filing date there were unencumbered assets in some entities, and secured lenders with interests in discrete bundles of assets. How insistence on allocation will play out in negotiations overall may depend on a lot of other things, but it is an important distributional issue.
Commented May 16, 2018 on Hearing #4 was held in The Weinstein Co. bankruptcy and you won't believe what happened next at Credit Slips
Hearing #4 was held in The Weinstein Co. bankruptcy and you won't believe what happened next
Actually, if you are in and of the corporate restructuring world, you will believe what happened next. Major objections were were resolved by the parties, and the court approved the sale of The Weinstein Co. to Lantern Capital. Resolving objections without litigation is perceived positively in b...
Eric - I stand by the accuracy of the assertion and appreciate your taking the time to comment. Melissa
Commented May 15, 2018 on Hearing #4 was held in The Weinstein Co. bankruptcy and you won't believe what happened next at Credit Slips
Hearing #4 was held in The Weinstein Co. bankruptcy and you won't believe what happened next
Actually, if you are in and of the corporate restructuring world, you will believe what happened next. Major objections were were resolved by the parties, and the court approved the sale of The Weinstein Co. to Lantern Capital. Resolving objections without litigation is perceived positively in b...
Hearing #4 was held in The Weinstein Co. bankruptcy and you won't believe what happened next
Actually, if you are in and of the corporate restructuring world, you will believe what happened next. Major objections were were resolved by the parties, and the court approved the sale of The Weinstein Co. to Lantern Capital. Resolving objections... Continue reading
Posted May 14, 2018 at Credit Slips
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Loans and Liens: The Weinstein Company Chapter 11 Hearing #3
Posted Apr 27, 2018 at Credit Slips
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"Drinking water from a fire hose:" The Weinstein Company Chapter 11 Hearing #2
Posted Apr 14, 2018 at Credit Slips
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Was Charleston Gazette-Mail a good case for an Ice Cube Bond?
Based only this news report, the answer appears to be yes - an Ice Cube Bond would have honored the claimants' need for speed without allowing them to shift all the risk to the bankruptcy estate. The news article indicates... Continue reading
Posted Apr 3, 2018 at Credit Slips
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Notes on Complexity: The Weinstein Company Chapter 11 Hearing #1
Some rarely-heard terms at The Weinstein Company's March 20 chapter 11 first-day hearing: sexual harassment, sexual assault, rape. A more common utterance among TWC representatives: complex. The industry, the capital structure, the lending arrangements. All complex. Complex complex complex complex... Continue reading
Posted Mar 26, 2018 at Credit Slips
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Aurelius Seeks a Do-Over; Puerto Rico and the Appointments Clause Litigation
The lives of Puerto Rico residents remain profoundly disrupted by the aftermath of Hurricane Maria measured by metrics such as electricity, clean water, and health care access, with death tolls mounting. This week, though, in a federal court hearing on... Continue reading
Posted Jan 8, 2018 at Credit Slips
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