Brent Weisenberg Authors Article on Amending the Bankruptcy Code to Account for Real-World Insolvency Situations (American Bankruptcy Institute)
, an associate in Cooley's Bankruptcy & Restructuring
practice, recently authored an article arguing that the Bankruptcy Code should be amended to plainly provide for structural dismissals and short form plans of liquidation - two expedient and less-costly exit strategies for liquidating debtors seeking to distribute their assets through a pot plan. In the article, he asserts that in light of the delay and expense associated with promulgating a chapter 11 liquidating plan and the uncertainty and additional cost of a chapter 7 conversion, it is time for the Code to clearly provide for these more expedient and less costly exit strategies.
View the article here