Wednesday, November 10, 2010

Obama's Lasting Negative Legal Legacy: GM, Chrysler Bankruptcies

From "GM, Chrysler bankruptcies created troubling legacy, legal scholars say" on November 10, 2010:
The Chrysler and General Motors bankruptcy reorganizations represented a sea change in corporate restructuring, one that could portend the end of our current system of bankruptcy reorganization, according to a published article by two University of Illinois experts in bankruptcy law.

Law professors Charles J. Tabb and Ralph Brubaker argue that the legal principles applied in the GM and Chrysler bankruptcies — two of the largest in U.S. history at $83.5 and $39.9 billion, respectively — were misguided, and ultimately have undermined the distributional norms of bankruptcy reorganizations.
Read the complete post here.

The complete paper is available here.

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