Author: David A. Skeel
Publisher:
ISBN:
Category :
Languages : en
Pages : 24
Book Description
From the outset of Detroit's bankruptcy, an unlikely set of issues kept coming up: What exactly is a lien? Who has a property interest or its equivalent in bankruptcy? Did general obligation bondholders have special status, due to Detroit's promise to use its “full faith and credit” for repayment? What about Detroit's pension beneficiaries, who could point to a provision in the Michigan Constitution stating that accrued pension benefits cannot be diminished or impaired. In this Article, I explore these and related issues that have arisen in Detroit and other recent municipal bankruptcy cases.Part I of the Article briefly compares liens and a variety of lien substitutes. In Part II, I recount the history of bankruptcy's statutory lien provision, which honors state liens but not state priorities, and requires that the lien be good both in bankruptcy and outside of bankruptcy. My focus in Part III is the status of general obligation bonds in Detroit, a question which has turned out to have different answers for the two different types of Detroit GO bonds. In Part IV, I explore Rhode Island's remarkable statute purporting to give a sweeping lien to GO bondholders. I then discuss the question whether pensions can be restructured in bankruptcy in Part V. I conclude that they can, and that the precise status of pension claims turns in large part on bankruptcy's treatment of trusts.
What is a Lien? Lessons from Municipal Bankruptcy
Author: David A. Skeel
Publisher:
ISBN:
Category :
Languages : en
Pages : 24
Book Description
From the outset of Detroit's bankruptcy, an unlikely set of issues kept coming up: What exactly is a lien? Who has a property interest or its equivalent in bankruptcy? Did general obligation bondholders have special status, due to Detroit's promise to use its “full faith and credit” for repayment? What about Detroit's pension beneficiaries, who could point to a provision in the Michigan Constitution stating that accrued pension benefits cannot be diminished or impaired. In this Article, I explore these and related issues that have arisen in Detroit and other recent municipal bankruptcy cases.Part I of the Article briefly compares liens and a variety of lien substitutes. In Part II, I recount the history of bankruptcy's statutory lien provision, which honors state liens but not state priorities, and requires that the lien be good both in bankruptcy and outside of bankruptcy. My focus in Part III is the status of general obligation bonds in Detroit, a question which has turned out to have different answers for the two different types of Detroit GO bonds. In Part IV, I explore Rhode Island's remarkable statute purporting to give a sweeping lien to GO bondholders. I then discuss the question whether pensions can be restructured in bankruptcy in Part V. I conclude that they can, and that the precise status of pension claims turns in large part on bankruptcy's treatment of trusts.
Publisher:
ISBN:
Category :
Languages : en
Pages : 24
Book Description
From the outset of Detroit's bankruptcy, an unlikely set of issues kept coming up: What exactly is a lien? Who has a property interest or its equivalent in bankruptcy? Did general obligation bondholders have special status, due to Detroit's promise to use its “full faith and credit” for repayment? What about Detroit's pension beneficiaries, who could point to a provision in the Michigan Constitution stating that accrued pension benefits cannot be diminished or impaired. In this Article, I explore these and related issues that have arisen in Detroit and other recent municipal bankruptcy cases.Part I of the Article briefly compares liens and a variety of lien substitutes. In Part II, I recount the history of bankruptcy's statutory lien provision, which honors state liens but not state priorities, and requires that the lien be good both in bankruptcy and outside of bankruptcy. My focus in Part III is the status of general obligation bonds in Detroit, a question which has turned out to have different answers for the two different types of Detroit GO bonds. In Part IV, I explore Rhode Island's remarkable statute purporting to give a sweeping lien to GO bondholders. I then discuss the question whether pensions can be restructured in bankruptcy in Part V. I conclude that they can, and that the precise status of pension claims turns in large part on bankruptcy's treatment of trusts.
Municipalities in Distress?
Author: James Spiotto
Publisher:
ISBN: 9780692624777
Category :
Languages : en
Pages :
Book Description
A 50 State Survey of: (1) Rights and Remedies Provided by States to Investors, (2) State Supervision and Oversight Mechanisms of Financially Distressed Local Governments and (3) State Authorization of Municipalities to File Chapter 9 Bankruptcy
Publisher:
ISBN: 9780692624777
Category :
Languages : en
Pages :
Book Description
A 50 State Survey of: (1) Rights and Remedies Provided by States to Investors, (2) State Supervision and Oversight Mechanisms of Financially Distressed Local Governments and (3) State Authorization of Municipalities to File Chapter 9 Bankruptcy
Amending Municipal Bankruptcy Act
Author: United States. Congress. House. Committee on the Judiciary. Special Subcommittee on Bankruptcy and Reorganization
Publisher:
ISBN:
Category : Bankruptcy
Languages : en
Pages : 44
Book Description
Committee Serial No. 21.
Publisher:
ISBN:
Category : Bankruptcy
Languages : en
Pages : 44
Book Description
Committee Serial No. 21.
Handbook for Chapter 7 Trustees
Author:
Publisher:
ISBN:
Category : Bankruptcy examiners
Languages : en
Pages : 240
Book Description
Publisher:
ISBN:
Category : Bankruptcy examiners
Languages : en
Pages : 240
Book Description
Model Rules of Professional Conduct
Author: American Bar Association. House of Delegates
Publisher: American Bar Association
ISBN: 9781590318737
Category : Law
Languages : en
Pages : 216
Book Description
The Model Rules of Professional Conduct provides an up-to-date resource for information on legal ethics. Federal, state and local courts in all jurisdictions look to the Rules for guidance in solving lawyer malpractice cases, disciplinary actions, disqualification issues, sanctions questions and much more. In this volume, black-letter Rules of Professional Conduct are followed by numbered Comments that explain each Rule's purpose and provide suggestions for its practical application. The Rules will help you identify proper conduct in a variety of given situations, review those instances where discretionary action is possible, and define the nature of the relationship between you and your clients, colleagues and the courts.
Publisher: American Bar Association
ISBN: 9781590318737
Category : Law
Languages : en
Pages : 216
Book Description
The Model Rules of Professional Conduct provides an up-to-date resource for information on legal ethics. Federal, state and local courts in all jurisdictions look to the Rules for guidance in solving lawyer malpractice cases, disciplinary actions, disqualification issues, sanctions questions and much more. In this volume, black-letter Rules of Professional Conduct are followed by numbered Comments that explain each Rule's purpose and provide suggestions for its practical application. The Rules will help you identify proper conduct in a variety of given situations, review those instances where discretionary action is possible, and define the nature of the relationship between you and your clients, colleagues and the courts.
Texas Foreclosure Manual, Third Edition
Author: William H. Locke
Publisher:
ISBN: 9781938873065
Category : Foreclosure
Languages : en
Pages : 1198
Book Description
Publisher:
ISBN: 9781938873065
Category : Foreclosure
Languages : en
Pages : 1198
Book Description
The Collection Process (income Tax Accounts)
Author: United States. Internal Revenue Service
Publisher:
ISBN:
Category : Tax collection
Languages : en
Pages : 4
Book Description
Publisher:
ISBN:
Category : Tax collection
Languages : en
Pages : 4
Book Description
The Logic and Limits of Bankruptcy Law
Author: Thomas H. Jackson
Publisher: Beard Books
ISBN: 9781587981142
Category : Law
Languages : en
Pages : 304
Book Description
A careful analysis of the fundamentals of bankruptcy law.
Publisher: Beard Books
ISBN: 9781587981142
Category : Law
Languages : en
Pages : 304
Book Description
A careful analysis of the fundamentals of bankruptcy law.
Wisconsin Construction Lien Law Handbook
Author: Steve W. Martin
Publisher: State Bar of Wisconsin
ISBN: 9780945574460
Category : Law
Languages : en
Pages :
Book Description
Publisher: State Bar of Wisconsin
ISBN: 9780945574460
Category : Law
Languages : en
Pages :
Book Description
Tax Lien$
Author: Michael Pellegrino
Publisher: Michael Pellegrino
ISBN: 9780976523307
Category : Business & Economics
Languages : en
Pages : 146
Book Description
Publisher: Michael Pellegrino
ISBN: 9780976523307
Category : Business & Economics
Languages : en
Pages : 146
Book Description