Abstract

http://ssrn.com/abstract=120693
 
 

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Virtual Judgment Proofing: A Rejoinder


Lynn M. LoPucki


University of California, Los Angeles (UCLA) - School of Law

March 1998

Yale Law Journal, Vol. 107, No. 5, 1998

Abstract:     
This is a rejoinder by the author of The Death of Liability, 106 Yale L.J. 1 (1996). The rejoinder is to a reply by Professor James J. White to the original article. Corporate Judgment Proofing: A Response to Lynn LoPucki's The Death of Liability, 107 Yale L.J. 1363 (1998). In response to specific points made by White, LoPucki argues that the judgment proofing of large companies would not be visible in Compustat data because it is not accomplished through secured debt or leasing and because Compustat data is aggregated by corporate group. Contracting parties will permit debtors to judgment proof themselves because by doing so the contracting parties and debtors can externalize liability and split the profits between them. LoPucki also responds to arguments that corporate veil piercing, fraudulent conveyance law, government and consumer reaction, and mandatory insurance will prevent judgment proofing by large companies. The rejoinder concludes that computerization will lead to the proliferation of virtual companies that are born judgment proof.

Number of Pages in PDF File: 22

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Date posted: May 8, 2000  

Suggested Citation

LoPucki, Lynn M., Virtual Judgment Proofing: A Rejoinder (March 1998). Yale Law Journal, Vol. 107, No. 5, 1998. Available at SSRN: http://ssrn.com/abstract=120693 or http://dx.doi.org/10.2139/ssrn.120693

Contact Information

Lynn M. LoPucki (Contact Author)
University of California, Los Angeles (UCLA) - School of Law ( email )
385 Charles E. Young Dr. East
Room 1242
Los Angeles, CA 90095-1476
United States
(310) 794-5722 (Phone)
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