Problems in the Code, Second Edition
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• Circuit “Splits,” whereby interpretation varies by jurisdiction, leading to inconsistent application of laws and forum-shopping;
• Areas where courts and/or attorneys have created “workarounds” to adapt the Code to the reality of business necessities and practice of law, such as the so-called “Jay Alix Protocol” in the Third Circuit; and
• Situations where one or more of the ultimate purposes of bankruptcy — e.g., creating fair opportunities for debtors to be rehabilitated, treating creditors of the same class equally, etc. — just aren’t being served well by the Code and Rules as written.
Author | Howard Brod Brownstein |
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