This paper discusses the research that has been completed by the Resolution Project on developing a new chapter in the bankruptcy code: Chapter 14. The paper also discusses the financial crisis and the perceived shortcomings of the current bankruptcy code and the Dodd-Frank Act.

The 2010 financial reform law provides a summary procedure whereby the government can take over and liquidate a non-bank financial company if the Treasury Secretary decides it is in danger of a default with serious adverse economic consequences. The Constitution requires due process of law for...

The “Resolution Project” began in August 2009, in the midst of the financial crisis, to consider how best to deal with the failure of major financial institutions. The members of the group, assembled from institutions across the country, were Andrew Crockett, Darrell Duffie, Richard Herring,...

A lot happened even before the perceived beginning of this crisis in 2007, so although the events are recent, I will give an overview from a US perspective of the period from 2001 to date, in our search for the lessons to be learned. Much of it is probably familiar, but worth revisiting.I will...

A lot happened even before the perceived beginning of this crisis in 2007,so although the events are recent, I will give an overview from a US perspectiveof the period from 2001 to date, in our search for the lessons to be learned.Much of it is probably familiar, but worth revisiting.I will...

Front Cover -- Book Title -- Contents -- Preface -- Part A: A New Bankruptcy Approach -- 1. A Guide to the Resolution of Failed Financial Institutions: Dodd-Frank Title II and Proposed Chapter 14 -- 2. Bankruptcy Code Chapter 14: A Proposal -- Part B: Lehman and "Orderly Liquidation" -- 3....