Review by Booklist Review
As if Americans don't have enough to concern them about corrupt corporate practices, now they need to be worried about powerful forces influencing where large failed corporations will have their bankruptcy trials judged. Fierce competition among courts to attract the bankruptcy trials of corporations with more than $220 million in assets has led to the failure of several companies, including Enron, MCI, and WorldCom. LoPucki, a law professor, offers a clear and alarming look at how courts offer streamlined procedures and lower standards to compete for huge bankruptcy cases that can bring notoriety and influence for the courts and big money to law firms. LoPucki chronicles the evolution of bankruptcy law in the U.S., how states--notably New York, New Jersey, and Delaware--have vied to attract the business, and how the trend toward forum shopping has expanded beyond U.S. borders. She concludes with recommendations for reform, including the creation of specialized bankruptcy courts. This is a well-researched, highly accessible look at troubling practices in corporate bankruptcy law. --Vanessa Bush Copyright 2005 Booklist
From Booklist, Copyright (c) American Library Association. Used with permission.
Review by Booklist Review
