11/15/2011 08:25:00 AM EST
Collier on Bankruptcy 16th Ed.: Content Spotlight
Volume 4 of the Sixteenth Edition comprises analysis of subchapters I and II of Bankruptcy Code chapter 5, “Creditors, the Debtor, and the Estate.” Subchapter I, “Creditors and Claims,” contains Code sections 501 through 511; subchapter II, “Debtor’s Duties and Benefits,” contains Code sections 521 through 528. The Collier material analyzing these Code sections has been revised and updated as part of the Sixteenth Edition. For instance, revised Chapter 503 includes an expanded discussion of the provisions added by the 2005 amendments, including the section 503(b)(1)(A)(ii) priority for certain WARN Act claims, the section 503(b)(7) limitations on administrative expense liability for leases assumed and later rejected, the section 503(b)(9) priority for goods received within 20 days of filing and the section 503(c) limitations on employee retention plans and severance payments. The revised chapter also includes substantial revisions and additions to the sections addressing environmental claims, executory contracts and leases, and tax claims.
Volume 7 comprises analysis of sub-chapters I and II of Bankruptcy Code chapter 11, “Reorganization,” as well as a general overview of chapter 11. Subchapter I, “Officers and Administration,” contains Code sections 1101 through 1116; subchapter II, “The Plan,” contains sections 1121 through 1129. As with volume 4, all of this material has been revised and updated as part of the Sixteenth Edition. For instance, Chapter 1108, on the trustee’s or debtor in possession’s authority to operate the business, has been thoroughly revised to include expanded discussion on the fiduciary duties of officers and directors when a corporation is insolvent. Looking in particular at seminal Delaware decisions, new ¶ 1108.10 addresses the derivative nature of creditors’ claims, the rise and fall of the deepening insolvency cause of action, determinations of insolvency, the scope of fiduciary duties upon the filing of the chapter 11 petition and the reconciling of competing interests.
Each Collier chapter of the Sixteenth Edition is written by a bankruptcy specialist uniquely qualified to write on the topic covered, and carefully reviewed by our editors-in-chief and members of the board of editors.