Putting a limit on unlimited creditors' committee liability

Article Abstract:

Neither statutory law nor federal court rulings have adequately outlined proper conduct for creditor committee members who wish to avoid liability. 11 U.S.C. section 1103 defines powers and duties of committee members. Federal court rulings have emphasized fiduciary duty. Better guidelines may be based on rules for nonprofit corporate directors, which emphasize limited immunity according to terms of good faith and ordinary care.

Bankruptcy Law, Other Justice, Public Order, and Safety Activities, Regulation, Licensing, and Inspection of Miscellaneous Commercial Sectors, Fiduciary Regulations, Banking law, Fiduciary duties, Fiduciaries

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Providing adequate assurance for utilities under section 366

Article Abstract:

A 'cash on delivery' method should be used to satisfy utilities which provide service to parties in bankruptcy. Section 366 of the Bankruptcy Code gives an 'adequate assurance' requirement so that parties do not have their service cut off by utilities and the utilities can have minimal risk. The most effective form of adequate assurance is cash on delivery.

Finance, Public utilities

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Forum shopping in business bankruptcy: an examination of Chapter 11 cases

Article Abstract:

The author discusses the venue choices made by a sanple group of 102 business debtors in Texas, New York, and Delaware during 1994. The author discusses his research methodology and analyzes the findings.

United States, States, Venue, Venues (Law)

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