The Slippery Slope to Bankruptcy - Should Some Claimants Get a 'Carve-Out' from Secured Credit? No: It's a Populist Craving for a Petit Bourgeois Valhalla

Authors

James J. White, University of Michigan Law SchoolFollow

Document Type

Article

Publication Date

1-1998

Abstract

In 1996, Professor Elizabeth Warren made a proposal to the American Law Institute and the Drafting Committee for Article 9 for a “20 percent set aside” for unsecured claimants. As I understand it, her proposal would amend Section 9-301 of Article 9 (the section that now implicitly subordinates a lien creditor to a prior perfected secured creditor).

Comments

This information or any portion thereof may not be copied or disseminated in any form or by any means or downloaded or stored in an electronic database or retrieval system without the express written consent of the American Bar Association.

Recommended Citation

White, James J. "The Slippery Slope to Bankruptcy - Should Some Claimants Get a 'Carve-Out' from Secured Credit? No: It's a Populist Craving for a Petit Bourgeois Valhalla." Bus. L. Today 7, no. 3 (1998): 33, 37-9.