BOOK REVIEW: Bankruptcy as a Business Tool. STRATEGIC BANKRUPTCY: HOW CORPORATIONS AND CREDITORS USE CHAPTER 11 TO THEIR ADVANTAGE. By Kevin J. Delaney. [+] Skip over navigation
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Copyright (c) 1993 Texas Law Review
Texas Law Review

BOOK REVIEW: Bankruptcy as a Business Tool.

STRATEGIC BANKRUPTCY: HOW CORPORATIONS AND CREDITORS USE CHAPTER 11 TO THEIR ADVANTAGE. By Kevin J. Delaney. [+]

Berkeley: University of California Press, 1992. Pp. ix; 213. $ 23.95. [++]



[+] Associate Professor of Sociology, Temple University. B.A. 1982, Georgetown University; M.A. 1987, Ph.D. 1989, State University of New York at Stony Brook.


[++] Hereinafter cited by page number only.

February, 1993

71 Tex. L. Rev. 681

Author

Reviewed by Gregory E. Maggs *

Excerpt

Even if you have not been trying to follow developments in bankruptcy law, you probably have noticed that something significant is happening. Newspapers everywhere are reporting astonishing increases in the number of bankruptcy cases filed, 1 the Supreme Court seems to be tackling one bankruptcy issue after another, 2 and members of Congress increasingly are talking about bankruptcy reform. 3 The country, in short, is experiencing what many are calling a "bankruptcy boom" -- perhaps the biggest boom ever. 4 Bankruptcy law, as a result, rarely has received so much attention.

Some aspects of the bankruptcy system now under scrutiny involve technical details that surely could interest only specialists. Yet, many of the most controversial developments involve fundamental issues that require little bankruptcy expertise to understand. Those unfamiliar with the system who would like to know more now have an opportunity to catch up. A handful of authors, sensing the need for accessible commentary on bankruptcy law, recently have undertaken to write readable books informing the public about what is going on. These new publications include Strategic Bankruptcy by sociology professor Kevin J. Delaney. 5

Delaney's book focuses on cases filed under Chapter 11 of the Bankruptcy Code. 6 Enacted in 1978 as a part of a major revision of the federal bankruptcy laws, Chapter 11 shields troubled businesses from creditors while allowing them to "reorganize." In a reorganization, a corporation may reduce or reschedule its obligations, so long as it treats similarly ...
 
 
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