Bankuptcy-remote transactions are sophisticated, but no longer a rarity, and should stop being considered as an oddity, or ‘marginal' case. Rather, they challenge some of bankruptcy law's most basic assumptions, on a practical, rather than theoretical, level.This article explores how...

Conventional wisdom about bankruptcy-remote transactions tends to be grounded on two assumptions. First, bankruptcy-remote transactions are a highly specific, and borderline case, of anecdotal relevance for bankruptcy policy. Second, bankruptcy-remote transactions are either a welcome or...

Imagine we could create a bankruptcy procedure from scratch. Which aspects would be different, and which inevitable? This question has spurred academic debate and policy reform, but no system of bankruptcy law has been re-made from scratch. Less noticeably, market players have been experimenting...