Thursday, November 29, 2012

Bankruptcy Law, The Law of Debtors and Creditors Problem Set Answers, Warren Westbrook Sixth Edition - Problem Set 38

Problem Set 38, p.748
  • Keep the business going and do nothing; wait the bills and claims come in; then file for bankruptcy and discharge.
  • If you are the government counsel, set up a lien on the land. Or force her into bankruptcy to make sure their cleanup is post-petition. Got the administrative expense priority.
  • Implication for Congress: conflict with the bankruptcy code? Preempted by the federal law? To what extent?
  • Some state law clauses cannot be preempted by the bankruptcy code.
  • Buy the insurance policy
  • Buy some operation but not the entire company; §363 the court’s approval of the property clear of any right.
  • Appoint a legal representative for the future claimants
  • §524(g)(2)(B) exclusive jurisdiction about the validity, application, construction or modification of such injunction.
Problem Sets: Table of Contents

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