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x pgs charts tables Cloth T  Available Paper S  Available Courting Failure How Competition for Big Cases Is Corrupting the Bankruptcy Courts Lynn M LoPucki An eye opening account of the widespread and systematic decay of America's bankruptcy courts About the Book A sobering chronicle of our broken bankruptcy court system Courting Failure exposes yet another American institution corrupted by greed avarice and the thirst for power Lynn LoPucki's eye opening account of the widespread and systematic decay of America's bankruptcy courts is a blockbuster story that has yet to be reported in the media LoPucki reveals the profound corruption in the U S bankruptcy system and how this breakdown has directly led to the major corporate failures of the last decade including Enron MCI WorldCom and Global Crossing LoPucki one of the nation's leading experts on bankruptcy law offers a clear and compelling picture of the destructive power of forum shopping in which attorneys choose courts that offer the most favorable outcome for their bankrupt clients The courts lured by power and prestige streamline their requirements and lower their standards to compete for these lucrative cases The result has been a series of increasingly shoddy reorganizations of major American corporations

      American Bankruptcy Institute New York City Bankruptcy Conference Lynn M LoPucki Security Pacific Bank Professor of Law UCLA Law School       The Corruption Dynamic  Debtors can file anywhere they please “Case placers” select the court      Debtor’s executives   Example Kenneth Lay      Debtor’s lawyers        DIP lender; new contract partners Creditors shareholders employees old contracting parties have no say Courts that favor the case placers get the cases Courts change practices to compete         My argument  Debtors shop Courts compete Competition a  Changes substantive practices b  Abrogates statutory protections c  Destroys companies d  Reduces recoveries Delaware’s four new judges will make the situation worse       The Innocent list Better judges Quicker hearings Omnibus hearings Better PACER sites Convenience Circuit law    The Guilty list Higher professional fees No trustees Deference to “consensus” day prepacks Critical vendor orders Relaxed conflicts of interest Executive pay issues Third party releases Easy § sales No real estate tax sales   Debtors shop for substantive practices       Debtors shop for substantive practices  From the National Law Journal July “Steven H Case of New York’s Davis Polk and Wardwell readily admitted steering his clients to venues that will pay his going rate

Book Review of LoPucki Courting Failure My new article Is Forum Shopping Corrupting America's Bankruptcy Courts? Review of Lynn M Lopucki Courting Failure How Competition for Big Cases is Corrupting the Bankruptcy Courts is now available for download on and As the title indicates this is a book review of essay of Lynn LoPucki's fascinating and stimulating new book Courting Failure which compiles LoPucki's voluminous empirical work over the past decade together with many fascinating case studies of problems with the current Chapter process including its treatment of many of the recent bankruptcy corporate scandals In addition to being stimulating and informative it is a rollicking great read and is written in a style that would be entertaining to a more general audience It is also sure to be very controversial and will frame the academic and policy debate in this area for the next several years Here's the Abstract for my review Abstract In his new book Courting Failure How Competition for Big Cases is Corrupting the Bankruptcy Courts Professor Lynn LoPucki's book argues that that current bankruptcy venue rules have spawned an improper competition for big cases that has corrupted America's bankruptcy courts LoPucki argues that this competition



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