Equitable Powers in Bankruptcy Rehabilitation: Protection of the Debtor and the Doomsday Principle
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Authors
Festersen, Paul F.
Issue Date
1972
Volume
5
Issue
Type
Journal Article
Language
Keywords
Alternative Title
Abstract
FIRST PARAGRAPH(S)|About half of the Bankruptcy Act, by volume, has to do with the rehabilitation rather than the interment of the financially distressed. Section 77, and Chapters X, XI, XII and XIII make possible different types of therapy for different types of patients and ailments. The differences are many and substantial but, in general, rehabilitation proceedings under the Bankruptcy Act provide two outstanding benefits to the debtor which are effectively available nowhere else: (1) Immediate relief from the forces which threaten to destroy the debtor beyond repair, in combination with provisions to keep it in operation while the salvage job is assayed and undertaken; and (2) a legal framework in which non-consenting creditors and other parties can be bound by the desires of a majority of their peers, or otherwise prevented from fractious disruption of the debtor's affairs...
Description
Citation
5 Creighton L. Rev. 221 (1971-1972)
Publisher
Creighton University School of Law