On September 24 at 1:30pm ET, the Wharton Initiative on Financial Policy and Regulation (WIFPR) will host a webinar on Chapter 11 bankruptcy initiation. WIFPR Director Itay Goldstein and Penn Law Professor David Skeel will moderate a virtual discussion with Anthony Casey (University of Chicago) on his new WIFPR white paper, “Good-Faith Filing in Chapter 11."
Please register at the link.
You can view the white paper here, and the abstract is below.
Abstract: The question of when a corporate debtor can initiate chapter 11 proceedings has taken on renewed importance in the wake of high-profile judicial rulings and a congressional proposal. This paper addresses that question, proposing a rule that dismissal for improper filing requires a showing that the proceedings are objectively futile. This proposal is supported by both policy and statute. Ideally, the bankruptcy and appellate courts (and ultimately the Supreme Court of the United States) would announce the rule. It could alternatively be implemented by statutory amendment to the United States Bankruptcy Code. At the very least, Congress should not enact any legislation that moves the law in the opposite direction.