-Douglas Baird, collage of Chicago legislation School
"This ebook makes sense, surprising and humorous. This tale has everything-professional greed, wrecked businesses, and embarrassed judges. Insiders are already buzzing."
-Elizabeth Warren, Leo Gottlieb Professor of legislation, Harvard legislations School
"LoPucki offers a scathing assault on reorganization perform. Courting Failure recounts how attorneys, managers and judges have reworked bankruptcy eleven. It makes use of empirical facts to discover how the pursuits of some of the members have mixed to create a procedure markedly diversified from the single estimated via Congress. LoPucki not just questions the knowledge of those adjustments but additionally the unfastened marketplace ideology that helps a lot of the overall legislation of the company sector."
-Robert Rasmussen, college of Chicago legislation School
A sobering chronicle of our damaged bankruptcy-court procedure, Courting Failure exposes yet one more American establishment corrupted by means of greed, avarice, and the thirst for power.
Lynn LoPucki's eye-opening account of the frequent and systematic decay of America's financial ruin courts is a blockbuster tale that has but to be stated within the media. LoPucki unearths the profound corruption within the U.S. financial ruin method and the way this breakdown has without delay ended in the most important company mess ups of the decade, together with Enron, MCI, WorldCom, and worldwide Crossing.
LoPucki, one of many nation's major specialists on financial ruin legislation, bargains a transparent and compelling photograph of the harmful energy of "forum shopping," during which businesses select courts that provide the main favorable consequence for financial ruin litigation. The courts, lured through giant cash and status, streamline their requisites and decrease their criteria to compete for those profitable circumstances. the outcome has been a sequence of more and more shoddy reorganizations of significant American enterprises, proposed by means of grasping company executives and licensed via case-hungry judges.
Read Online or Download Courting Failure: How Competition for Big Cases Is Corrupting the Bankruptcy Courts PDF
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