| Abstrakt: |
The paper, in short, explores how the structure of the bankruptcy system in the United States serves large corporations. This underlying purpose is shielded in the 'debtor-friendly' model, as the system is theoretically designed to help debtor businesses get back on their feet and serve their creditors and consumers. However, rather than actually being a debtor-friendly system, the Bankruptcy Code is 'large corporation friendly', helping corporate debtors and creditors alike before providing any protections for 'the little guy.' The paper then proposes a "New Bankruptcy Act," with several reforms designed to return to the original debtor-friendly model of the Code, while providing additional protections against abuse and capture. [ABSTRACT FROM AUTHOR] |
