Chapter 11 under fire; critics say stockholders, unions lose in reorganizations while lawyers win
Article Abstract:
Chapter 11 of the US Bankruptcy Code, which governs corporate reorganizations, is being widely criticized as giving rise to costly litigation. Michael Bradley and Michael Rosenzweig maintain in the Mar 1992 Yale Law Journal that few companies come out of Chapter 11 reorganization and that the stocks of such companies declined even more sharply in value than under the prior law. Ronald Itzler insists that many companies emerge from Chapter 11 healthy and Elizabeth Warren thinks Bradley and Rosenzweign draw unwarranted conclusions from inadequate statistics.
Publication Name: ABA Journal
Subject: Law
ISSN: 0747-0088
Year: 1992
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Virginia Bar responds to thefts; disciplinary changes considered after $45 million stolen by two lawyers
Article Abstract:
The Virginia State Bar is considering stricter regulation on lawyer handling of client funds after two 1992 scandals. These concerned the discovery that two Virginia attorneys had stolen millions from their clients' funds for a period of years without any action being taken. Among the measures the bar is considering random auditing of clients' accounts, increasing the size of the bar's Client Protection Fund, and stricter review of estates and trusts. An ABA report made similar recommendations in 1992.
Publication Name: ABA Journal
Subject: Law
ISSN: 0747-0088
Year: 1993
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Independent counsel disconnect: some critics suggest limiting lengths and targets of investigations
Article Abstract:
Former independent counsels have joined their voices with other critics calling for limits on the scope and possible subjects of government ethics investigations. One critic is Archibald Cox, investigator of the Watergate scandal. Most special prosecutors were empowered by the 1978 Ethics in Government Act, and some critics would like to make new laws.
Publication Name: ABA Journal
Subject: Law
ISSN: 0747-0088
Year: 1997
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- Abstracts: Power back to the people. Far to go: hearings seek to pinpont issues that resonate with female lawyers. The most vulnerable clients: attorneys must deal with special issues when kids come into contact with the courts
- Abstracts: Cultural property - recovery of stolen art works - choice of law - recognition of governments. International Criminal Tribunal for Rwanda - jurisdiction - waiver of deadlines for motions - Security Council competence under Chapter VII of UN Charter - jus de non evocando - effect of prior decisions of Appeals Chamber of International Criminal Tribunal for the Former Yugoslavia
- Abstracts: Time off; business travel can hold key to vacation pleasure. part 2 In search of higher interest; alternatives to money-market funds and CDs
- Abstracts: School danger zones: courts reject efforts to hold schools liable to student shooting victims. Around the ABA; new group will coordinate ABA's efforts in bioethics
- Abstracts: Cameras experiment one year old; retired Justice Marshall among the judges who refused broadcast requests. part 2