Corporate Bankruptcy

Notes

Chapter 1

1. It is important to note that bankruptcy, like many legal concepts, varies by jurisdiction. There are many different bankruptcy regimes throughout the world, and the American approach to reorganization is fairly unique in its procedures and its generally forgiving stance toward debtor organizations. Whether this is good or bad is a matter for a different forum; for the purposes of this book, the reader should simply be aware that the frame of reference is American law and that resolution of the issues discussed here can, and probably will, be different in other countries.

2. References to Chapters 7 and 11 of the Code always mean, respectively, liquidation and reorganization. These are the two principal bankruptcy methodologies ...