{"id":17624,"date":"2018-09-25T22:14:01","date_gmt":"2018-09-26T03:14:01","guid":{"rendered":"http:\/\/wistful-signature.flywheelsites.com\/cklawreview\/?page_id=17624"},"modified":"2026-05-01T15:49:40","modified_gmt":"2026-05-01T20:49:40","slug":"vol-93-issue-3","status":"publish","type":"page","link":"https:\/\/studentorgs.kentlaw.iit.edu\/cklawreview\/issues\/past-issues\/vol-93-issue-3\/","title":{"rendered":"Vol. 93, Issue 3"},"content":{"rendered":"<h1 style=\"text-align: center;\">Comparative and Cross-Border Issues in Bankruptcy and Insolvency Law<\/h1>\n<p style=\"text-align: center;\"><strong>SYMPOSIUM EDITORS<br \/>\n<\/strong><a href=\"https:\/\/www.kentlaw.iit.edu\/faculty\/adrian-walters\">Adrian Walters<\/a><br \/>\n<em>IIT Chicago-Kent College of Law<\/em><\/p>\n<p style=\"text-align: center;\"><a href=\"https:\/\/law.mc.edu\/faculty\/directory\/christoph-henkel\">Christoph Henkel<\/a><br \/>\n<em>Mississippi College School of Law<\/em><\/p>\n<p style=\"text-align: center;\"><a href=\"https:\/\/scholarship.kentlaw.iit.edu\/cklawreview\/vol93\/iss3\/1\">Table of Contents<br \/>\n<\/a><a href=\"https:\/\/studentorgs.kentlaw.iit.edu\/cklawreview\/comparative-and-cross-border-issues-in-bankruptcy-and-insolvency-law\/\">Live Symposium<\/a><\/p>\n<h3 style=\"text-align: center;\">Articles<\/h3>\n<hr \/>\n<p><span style=\"font-size: 22px;\">A Canadian Lens on Third Party Litigation Funding in the American Bankruptcy Context<\/span><br \/>\n<em><strong>Stephanie Ben-Ishai<\/strong>,\u00a0Osgoode Hall Law School<br \/>\n<\/em><em><strong>Emily Uza<\/strong><\/em>,\u00a0<em>Davies Ward Phillips &amp; Vineberg LLP<\/em><em><br \/>\n<\/em>93 C\u029c\u026a.-K\u1d07\u0274\u1d1b L. R\u1d07\u1d20.\u00a0631 (2018)<br \/>\n<span style=\"text-decoration: underline;\"><strong>Abstract<\/strong><\/span><span style=\"text-decoration: underline;\">:<\/span>\u00a0This Article offers two major recommendations to expand the use of third party litigation funding (\u201cTPLF\u201d) into the U.S. insolvency context. As seen in the Canadian context, courts have accepted the use of litigation funding agreements fitting within certain parameters. <a href=\"https:\/\/scholarship.kentlaw.iit.edu\/cklawreview\/vol93\/iss3\/2\/\">Continue\u2014&gt;<\/a><\/p>\n<p><span style=\"font-size: 22px;\">When Borders Dissolve<\/span><br \/>\n<em><strong>Laura N. Coordes<\/strong>,\u00a0Sandra Day O&#8217;Connor College of Law<\/em><em><br \/>\n<\/em>93 C\u029c\u026a.-K\u1d07\u0274\u1d1b L. R\u1d07\u1d20.\u00a0649 (2018)<br \/>\n<span style=\"text-decoration: underline;\"><strong>Abstract<\/strong><\/span><span style=\"text-decoration: underline;\">:<\/span>\u00a0Scholars have long sought to apply principles from U.S. bankruptcy law to sovereign debt restructurings. Chapter 9 of the U.S. Bankruptcy Code, used to adjust the debts of municipalities, has been a particular source of inspiration, and several proposals currently exist to adapt chapter 9 to address the challenges of sovereign debt restructuring. <a href=\"https:\/\/scholarship.kentlaw.iit.edu\/cklawreview\/vol93\/iss3\/3\/\">Continue\u2014&gt;<\/a><\/p>\n<p><span style=\"font-size: 22px;\">Modularity in Cross-Border Insolvency<\/span><br \/>\n<em><strong>Andrew B. Dawson<\/strong>,\u00a0University of Miami School of Law<\/em><em><br \/>\n<\/em>93 C\u029c\u026a.-K\u1d07\u0274\u1d1b L. R\u1d07\u1d20.\u00a0677 (2018)<br \/>\n<span style=\"text-decoration: underline;\"><strong>Abstract<\/strong><\/span><span style=\"text-decoration: underline;\">:<\/span>\u00a0This Article proposes a framework for thinking about the design structure of the Model Law on Cross-Border Insolvency. The Model Law has been successful by many metrics; however, it has faced various implementation challenges. <a href=\"https:\/\/scholarship.kentlaw.iit.edu\/cklawreview\/vol93\/iss3\/4\/\">Continue\u2014&gt;<\/a><\/p>\n<p><span style=\"font-size: 22px;\">The Avoidance of Pre-Bankruptcy Transactions: An Economics and Comparative Approach<\/span><br \/>\n<em><strong>Aurelio Gurrea-Mart\u00ednez<\/strong>,\u00a0Singapore Management University<\/em><em><br \/>\n<\/em>93 C\u029c\u026a.-K\u1d07\u0274\u1d1b L. R\u1d07\u1d20.\u00a0711 (2018)<br \/>\n<span style=\"text-decoration: underline;\"><strong>Abstract<\/strong><\/span><span style=\"text-decoration: underline;\">:<\/span>\u00a0Most insolvency jurisdictions provide several mechanisms to reverse transactions entered into by a debtor prior to the commencement of the bankruptcy procedure. These mechanisms, generally known as claw-back actions or avoidance provisions, may fulfill several economic goals.<br \/>\n<a href=\"https:\/\/scholarship.kentlaw.iit.edu\/cklawreview\/vol93\/iss3\/5\/\">Continue\u2014&gt;<\/a><\/p>\n<p><span style=\"font-size: 22px;\">Infinite Jest: The Otiose Quest for Completeness in Validating Insolvency Judgments<\/span><br \/>\n<em><strong>Bruce A. Markell<\/strong>,\u00a0Northwestern Pritzker School of Law<\/em><em><br \/>\n<\/em>93 C\u029c\u026a.-K\u1d07\u0274\u1d1b L. R\u1d07\u1d20.\u00a0751 (2018)<br \/>\n<span style=\"text-decoration: underline;\"><strong>Abstract<\/strong><\/span><span style=\"text-decoration: underline;\">:<\/span>\u00a0Universalism in cross-border bankruptcies strives to reduce waste, and harmonize restructuring and recoveries. Universalism\u2019s avatar is UNCITRAL\u2019s 1997 Model Law on Cross-Border Insolvencies (Model Law). <a href=\"https:\/\/scholarship.kentlaw.iit.edu\/cklawreview\/vol93\/iss3\/6\/\">Continue\u2014&gt;<\/a><\/p>\n<p><span style=\"font-size: 22px;\">Layering, Conversion, and Drifting: A Comparative Analysis of Path Dependent Change in Consumer Insolvency Systems<\/span><br \/>\n<em><strong>Megan McDermott<\/strong>,\u00a0University of Wisconsin School of Law<\/em><em><br \/>\n<\/em>93 C\u029c\u026a.-K\u1d07\u0274\u1d1b L. R\u1d07\u1d20.\u00a0765 (2018)<br \/>\n<span style=\"text-decoration: underline;\"><strong>Abstract<\/strong><\/span><span style=\"text-decoration: underline;\">:<\/span>\u00a0The past twenty-five years have been marked by major developments in consumer insolvency systems around the world. The threshold challenge for comparative scholars is to keep up with the changes occurring in individual countries, as a necessary\u2014but preliminary\u2014step toward broader comparisons of the historical, social, and institutional forces in consumer bankruptcy. <a href=\"https:\/\/scholarship.kentlaw.iit.edu\/cklawreview\/vol93\/iss3\/7\/\">Continue\u2014&gt;<\/a><\/p>\n<p><span style=\"font-size: 22px;\">Market Organisations and Institutions in America and England: Variation in Corporate Bankruptcy<\/span><br \/>\n<em><strong>Sarah Paterson<\/strong>,\u00a0London School of Economics &amp; Political Science<\/em><em><br \/>\n<\/em>93 C\u029c\u026a.-K\u1d07\u0274\u1d1b L. R\u1d07\u1d20.\u00a0801 (2018)<br \/>\n<span style=\"text-decoration: underline;\"><strong>Abstract<\/strong><\/span><span style=\"text-decoration: underline;\">:<\/span>\u00a0Courts in England and the United States have traditionally adopted different approaches to the question of valuation in debt restructuring cases. In England, courts have tended to determine whether to approve the allocation of equity in a debt restructuring by reference to the amounts creditors would have received if no debt restructuring had been agreed. <a href=\"https:\/\/scholarship.kentlaw.iit.edu\/cklawreview\/vol93\/iss3\/8\/\">Continue\u2014&gt;<\/a><\/p>\n<p><span style=\"font-size: 22px;\">The Ammanati Affair: Seven Centuries Old, and Not Feeling the Age<\/span><br \/>\n<em><strong>Eugenio Vaccari<\/strong>,\u00a0City University of London<\/em><em><br \/>\n<\/em>93 C\u029c\u026a.-K\u1d07\u0274\u1d1b L. R\u1d07\u1d20.\u00a0831 (2018)<br \/>\n<span style=\"text-decoration: underline;\"><strong>Abstract<\/strong><\/span><span style=\"text-decoration: underline;\">:<\/span>\u00a0The enactments of the UNCITRAL Model Law on Cross-Border Insolvency and the European Regulations on insolvency proceedings have promoted an incremental approach towards substantive harmonization. This strategy has not remained unquestioned. <a href=\"https:\/\/scholarship.kentlaw.iit.edu\/cklawreview\/vol93\/iss3\/9\/\">Continue\u2014&gt;<\/a><\/p>\n<p><span style=\"font-size: 22px;\">Fiduciary Duties of Directors of Insolvent Corporations: A Comparative Perspective<\/span><br \/>\n<em><strong>Alessandra Zanardo<\/strong>,\u00a0Ca&#8217; Foscari University of Venice<\/em><em><br \/>\n<\/em>93 C\u029c\u026a.-K\u1d07\u0274\u1d1b L. R\u1d07\u1d20.\u00a0867 (2018)<br \/>\n<span style=\"text-decoration: underline;\"><strong>Abstract<\/strong><\/span><span style=\"text-decoration: underline;\">:<\/span>\u00a0Over the last two decades, in many jurisdictions great emphasis has been placed on directors\u2019 fiduciary duties when a corporation is insolvent or in the amorphous \u201czone of insolvency\u201d; notably, to investigate whether the directors should continue to promote the best interests of the corporation for the benefits of its shareholders, or whether their duties shift to creditors. <a href=\"https:\/\/scholarship.kentlaw.iit.edu\/cklawreview\/vol93\/iss3\/10\/\">Continue\u2014&gt;<\/a><\/p>\n<h3 style=\"text-align: center;\">Student Notes &amp; Comments<\/h3>\n<hr \/>\n<p><span style=\"font-size: 22px;\"><i>The Question for Another Day:\u00a0<\/i><em>Hooker v. Illinois State Board of Elections<\/em> and Its Effect on the Vitality of Citizen Ballot Initiatives and Redistricting Reform in Illinois<\/span><br \/>\n<em><strong>Thomas Q. Ford<\/strong><\/em>,\u00a0<em>IIT Chicago-Kent College of Law<\/em><br \/>\n93 C\u029c\u026a.-K\u1d07\u0274\u1d1b L. R\u1d07\u1d20.\u00a0897 (2018)<br \/>\n<span style=\"text-decoration: underline;\"><strong>Abstract<\/strong><\/span>:\u00a0Like most states, Illinois is no stranger to political gerrymandering. Since 2010, redistricting reformers have made repeated efforts to change the way Illinois&#8217;s political maps are drawn, essentially by minimizing or eliminating the role lawmakers play in the process. <a href=\"https:\/\/scholarship.kentlaw.iit.edu\/cklawreview\/vol93\/iss3\/11\/\">Continue\u2014&gt;<\/a><\/p>\n<p><span style=\"font-size: 22px;\">Preventing Drug-Related Deaths at Music Festivals: Why the &#8220;Rave&#8221; Act Should be Amended to Provide an Exception for Harm Reduction Services<\/span><br \/>\n<em><strong>Robin Mohr<\/strong><\/em>,\u00a0<em>IIT Chicago-Kent College of Law<\/em><br \/>\n93 C\u029c\u026a.-K\u1d07\u0274\u1d1b L. R\u1d07\u1d20.\u00a0943 (2018)<\/p>\n<h3 style=\"text-align: center;\">A Tribute to Professor <a href=\"https:\/\/www.kentlaw.iit.edu\/faculty\/a-tarlock\">Dan Tarlock<\/a><\/h3>\n<hr \/>\n<p><a href=\"https:\/\/scholarship.kentlaw.iit.edu\/cklawreview\/vol93\/iss3\/13\"><span style=\"font-size: 22px;\">Introduction<\/span><\/a><br \/>\n<em><strong>Harold J. Krent<\/strong><\/em>,\u00a0<em>IIT Chicago-Kent College of Law<\/em><br \/>\n93 C\u029c\u026a.-K\u1d07\u0274\u1d1b L. R\u1d07\u1d20.\u00a0973 (2018)<\/p>\n<p><a href=\"https:\/\/scholarship.kentlaw.iit.edu\/cklawreview\/vol93\/iss3\/14\"><span style=\"font-size: 22px;\">A Tribute to Dan Tarlock from Beyond the Legal Academy<\/span><\/a><br \/>\n<em><strong>Carl Bauer<\/strong><\/em>,\u00a0<em>University of Arizona<\/em><br \/>\n93 C\u029c\u026a.-K\u1d07\u0274\u1d1b L. R\u1d07\u1d20.\u00a0975 (2018)<\/p>\n<p><a href=\"https:\/\/scholarship.kentlaw.iit.edu\/cklawreview\/vol93\/iss3\/15\"><span style=\"font-size: 22px;\">A Grateful Tribute to Dan Tarlock<\/span><\/a><br \/>\n<em><strong>Reed D. Benson<\/strong><\/em>,\u00a0<em>University of New Mexico School of Law<\/em><br \/>\n93 C\u029c\u026a.-K\u1d07\u0274\u1d1b L. R\u1d07\u1d20.\u00a0979 (2018)<\/p>\n<p><a href=\"https:\/\/scholarship.kentlaw.iit.edu\/cklawreview\/vol93\/iss3\/16\"><span style=\"font-size: 22px;\">Why Dan Tarlock Is My Hero<\/span><\/a><br \/>\n<em><strong>Holly Doremus<\/strong><\/em>,\u00a0<em>UC Berkeley School of Law<\/em><br \/>\n93 C\u029c\u026a.-K\u1d07\u0274\u1d1b L. R\u1d07\u1d20.\u00a0983 (2018)<\/p>\n<p><a href=\"https:\/\/scholarship.kentlaw.iit.edu\/cklawreview\/vol93\/iss3\/17\"><span style=\"font-size: 22px;\">Dan Tarlock, Faithful Way-Finder<\/span><\/a><br \/>\n<em><strong>Justice Gregory J. Hobbs, Jr. (Ret.)<\/strong><\/em>,\u00a0<em>Colorado Supreme Court<\/em><br \/>\n93 C\u029c\u026a.-K\u1d07\u0274\u1d1b L. R\u1d07\u1d20.\u00a0989 (2018)<\/p>\n<p><a href=\"https:\/\/scholarship.kentlaw.iit.edu\/cklawreview\/vol93\/iss3\/18\"><span style=\"font-size: 22px;\">A Tribute<\/span><\/a><br \/>\n<em><strong>Lewis B. Jones<\/strong><\/em>,\u00a0<em>King &amp; Spalding LLP<\/em><br \/>\n93 C\u029c\u026a.-K\u1d07\u0274\u1d1b L. R\u1d07\u1d20.\u00a0995 (2018)<\/p>\n<p><a href=\"https:\/\/scholarship.kentlaw.iit.edu\/cklawreview\/vol93\/iss3\/19\"><span style=\"font-size: 22px;\">A Special Tribute for Dan Tarlock<\/span><\/a><br \/>\n<em><strong>Daniel R. Mandelker<\/strong><\/em>,\u00a0<em>Washington University School of Law<\/em><br \/>\n93 C\u029c\u026a.-K\u1d07\u0274\u1d1b L. R\u1d07\u1d20.\u00a0997 (2018)<\/p>\n<p><a href=\"https:\/\/scholarship.kentlaw.iit.edu\/cklawreview\/vol93\/iss3\/20\"><span style=\"font-size: 22px;\">In Appreciation of &#8220;The Tarlock Effect&#8221;<\/span><\/a><br \/>\n<em><strong>J.B. Ruhl<\/strong><\/em>,\u00a0<em>Vanderbilt University Law School<\/em><br \/>\n93 C\u029c\u026a.-K\u1d07\u0274\u1d1b L. R\u1d07\u1d20.\u00a01001 (2018)<\/p>\n<p><a href=\"https:\/\/scholarship.kentlaw.iit.edu\/cklawreview\/vol93\/iss3\/21\"><span style=\"font-size: 22px;\">A. Dan Tarlock: Biography and Selected Publications<\/span><\/a><br \/>\n93 C\u029c\u026a.-K\u1d07\u0274\u1d1b L. R\u1d07\u1d20.\u00a01005 (2018)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Comparative and Cross-Border Issues in Bankruptcy and Insolvency Law SYMPOSIUM EDITORS Adrian Walters IIT Chicago-Kent College of Law Christoph Henkel Mississippi College School of Law Table of Contents Live Symposium Articles A Canadian Lens on Third Party Litigation Funding in the American Bankruptcy Context Stephanie Ben-Ishai,\u00a0Osgoode Hall Law School Emily &#8230;<\/p>\n","protected":false},"author":41,"featured_media":0,"parent":1999,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_monsterinsights_skip_tracking":false,"footnotes":""},"class_list":["post-17624","page","type-page","status-publish","hentry","column","twocol"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Vol. 93, Issue 3 - Chicago-Kent Law Review<\/title>\n<meta name=\"description\" content=\"Volume 93, Issue 3: Comparative and Cross-Border Issues in Bankruptcy and Insolvency Law\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/studentorgs.kentlaw.iit.edu\/cklawreview\/issues\/past-issues\/vol-93-issue-3\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Vol. 93, Issue 3 - 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