Bankruptcy: A Feast for Lawyers

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Beard Books, 1992 - Business & Economics - 341 pages
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Described by the Chicago Tribune as a "latter-day version of Dickens' Bleak House," Bankruptcy: A Feast for Lawyers is a shattering indictment of bankruptcy law by a CEO who lived through the experience of Chapter 11. Author Sol Stein exposes a system that is supposed to provide an opportunity for troubled companies to reorganize, but kills more than 70% of the businesses that take refuge in it while enriching legions of lawyers. In the nightmare world of Chapter 11, the gainers are seldom the creditors or the debtor company, but rather the bankruptcy bar, impeached in this book by their own conduct and the condemnation of their ethical brethren. Besides his own experience, the author draws examples from diverse industries -- trucking, food, real estate, oil, and publishing.
 

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Contents

Ten Lies About Chapter 11
1
Is This Trip Necessary?
41
Presumed Guilty The SixRing Circus During Those Crucial First Few Days
57
The Burden of Proof Is on You
73
Personal Assets Hard Harder Hardest
89
The Economic Insanity of Chapter 11
93
Suddenly You Are in the CamelMaking Business
109
Unconscionable and Obscene The Process by which Some Bankruptcy Lawyers Enrich Themselves
123
Whats a Nice Fellow Like You Doing in a Place Like This?
177
Biting the BuUet
209
The St Valentines Day Massacre 1989
233
Dear Scarsdale National or How Come They Sue You Personally for Money You Didnt Get?
253
What Your Lawyer May or May Not Tell You About Lender Liability
263
Innocent Bystanders
271
Some of My Best Friends Are Lawyers
279
Turnarounds How to Avoid Chapter 11 if Its Humanly Possible
291

How Do You Tie Shoelaces?
133
The Courthouse A Home Away from Home
143
Freedom from the Press or Please Leave the First Amendment at the Door
151
The Culture of Chapter 11
161
Claims The Meek Shall Inherit Nothing
171
Sanctuary or Pillory?
303
Appendix A
319
Index
333
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