Goodbye to Chapter 11: The end of business bankruptcy as we know it

John D. Ayer


Abstract


Paper considering the business reorganisation introduced under Chapter 11 of the United States Bankruptcy Code. The author examines the intended purpose of Chapter 11 and asserts that this chapter was once used to preserve the interests of equity owners, while now it is used to preserve the value of assets. Article by John D. Ayer (Professor of Law, University of California at Davis; Fellow, American College of Bankruptcy). Published in Amicus Curiae - Journal of the Institute of Advanced Legal Studies and its Society for Advanced Legal Studies. The Journal is produced by the Society for Advanced Legal Studies at the Institute of Advanced Legal Studies, University of London.

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