Jonathan C. Lipson

Temple University - James E. Beasley School of Law

Harold E. Kohn Professor of Law, Faculty Advisor to the Center for Compliance and Ethics

1719 N. Broad Street

Philadelphia, PA 19122

United States

SCHOLARLY PAPERS

46

DOWNLOADS
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14,745

TOTAL CITATIONS
Rank 35,140

SSRN RANKINGS

Top 35,140

in Total Papers Citations

18

Ideas:
“  I am currently studying the role that contract plays in achieving social justice goals, which I call "contract social responsibility" (KSR). Terms in supply chain or movie production agreements, for example, might seek to limit abusive labor practices or improve diversity at a contract counterparty. This is both a natural outgrowth of larger trends toward hybrid solutions to social dislocation and a challenge for contract doctrine and theory, which conventionally treats contract as bilateral, private and prepolitical. KSR terms are often none of those things.  ”

Scholarly Papers (46)

1.

FTX’d: Conflicting Public and Private Interests in Chapter 11

U of Penn, Inst for Law & Econ Research Paper No. 24-08, Stanford Law Review, Vol. 77, p.369, 2025, Temple University Legal Studies Research Paper No. 2024-12
Number of pages: 93 Posted: 15 Mar 2024 Last Revised: 03 Mar 2025
Jonathan C. Lipson and David A. Skeel
Temple University - James E. Beasley School of Law and University of Pennsylvania Carey Law School
Downloads 2,367 (13,478)

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public interest, judicial process, FTX, Sullivan & Cromwell (S&C), Bankruptcy, chapter 11, bankruptcy examiner, corporate reorganization, Sam Bankman-Fried, conflicts of interest, disinterestedness, crypto currency, Binance, CTFC, United States Trustee.

2.

Model Business Corporation Act Annotated (5th ed.) — Front Matter

Model Business Corporation Act Annotated, Fifth Edition, 2020, ISBN: 978-1-64105-726-4, Temple University Legal Studies Research Paper No. 2020-26
Number of pages: 53 Posted: 17 Sep 2020 Last Revised: 18 Sep 2020
Jonathan C. Lipson and Lawrence A. Hamermesh
Temple University - James E. Beasley School of Law and Widener University Delaware Law School
Downloads 1,281 (34,832)

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Mbca, Model Business Corporation Act, Corporations, Corporate Law, Dgcl, Delaware General Corporation Law

3.

Directors' Duties to Creditors: Power Imbalance and the Financially Distressed Corporation

Number of pages: 70 Posted: 04 Oct 2002
Jonathan C. Lipson
Temple University - James E. Beasley School of Law
Downloads 1,017 (48,526)

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Fiduciary duty, directors' duties, directorial duties, duty of care, duty of loyalty, insolvency, creditors, shareholders, priority, volition, cognition, exit

4.

Making America Worse: Jobs and Money at Trump Casinos, 1997-2010

Temple University Legal Studies Research Paper No. 2016-47
Number of pages: 21 Posted: 29 Sep 2016 Last Revised: 08 Oct 2016
Jonathan C. Lipson
Temple University - James E. Beasley School of Law
Downloads 986 (50,704)

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Trump, Bankruptcy, Jobs, Employment, Revenue, Chapter 11, Economy

5.

Re: Defining Securitization

85 S. Cal. L. Rev. 1229 (2012), Temple University Legal Studies Research Paper No. 2013-05
Number of pages: 55 Posted: 01 Feb 2012 Last Revised: 23 May 2013
Jonathan C. Lipson
Temple University - James E. Beasley School of Law
Downloads 825 (64,901)

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securitization, structured finance, commercial finance, credit crisis, Dodd-Frank, credit

6.

The Shadow Bankruptcy System

Boston University Law Review, Vol. 89, 2009, Temple University Legal Studies Research Paper No. 2009-21
Number of pages: 78 Posted: 25 Apr 2009 Last Revised: 12 May 2010
Jonathan C. Lipson
Temple University - James E. Beasley School of Law
Downloads 600 (97,808)

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bankruptcy, reorganization, chapter 11, shadow banking, credit crisis, financial regulation, securities regulation, hedge funds, investment banks, private equity funds

7.

The Expressive Function of Directors' Duties to Creditors

Stanford Journal of Law, Business, and Finance, Vol. 12, No. 2, 2007, U of Penn, Inst for Law & Econ Research Paper No. 07-10, U of Penn Law School, Public Law Research Paper No. 07-23
Number of pages: 62 Posted: 25 May 2007
Jonathan C. Lipson
Temple University - James E. Beasley School of Law
Downloads 543 (110,931)

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corporate governance, reorganization, corporate debt, directors' duties to creditors, fiduciary duty, priority, director discretion, conduct toward creditors, role of contract, courts' educative function, expressive law, expressive adjudication, dicta, duty of loyalty, duty of care, Delaware, equity

8.

Understanding Failure: Examiners and the Bankruptcy Reorganization of Large Public Companies

American Bankruptcy Law Journal, Vol. 84, 2010, Temple University Legal Studies Research Paper No. 2010-16, Univ. of Wisconsin Legal Studies Research Paper No. 1136
Number of pages: 79 Posted: 02 Jun 2010 Last Revised: 08 Oct 2010
Jonathan C. Lipson
Temple University - James E. Beasley School of Law
Downloads 432 (146,140)
Citation 1

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Bankruptcy, Chapter 11, Examiners, Public Investors, Reorganization, Debtors, Creditors, Creditors committee, Equity committee, Debtor in possession, Information-forcing, Securities fraud, Legislative history, Docket-level data,

9.

Financing Information Technologies: Function and Fairness

Wisconsin Law Review, 2001
Number of pages: 82 Posted: 23 Jul 2001
Jonathan C. Lipson
Temple University - James E. Beasley School of Law
Downloads 427 (148,181)

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Secured Transactions, Security Interests, Article 9, Uniform Commercial Code (UCC), Information Technology, Intellectual Property, Data, Copyright, Patent, Trademark, Trade Secret, Proceeds

10.

Examining Success

Temple University Legal Studies Research Paper No. 2015-17
Number of pages: 192 Posted: 23 Feb 2015 Last Revised: 11 Aug 2016
Jonathan C. Lipson and Christopher Marotta
Temple University - James E. Beasley School of Law and KPMG International, LLP - New York, NY Office
Downloads 404 (157,847)

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chapter 11, bankruptcy, corporate reorganization, bankruptcy examiners, examiners, agency costs, empirical legal research, shadow bankruptcy

11.
Downloads 356 (182,412)
Citation 3

Promising Justice: Contract (as) Social Responsibility

Wisconsin Law Review, Forthcoming, Temple University Legal Studies Research Paper No. 2019-21
Number of pages: 52 Posted: 03 Jun 2019 Last Revised: 29 Dec 2019
Jonathan C. Lipson
Temple University - James E. Beasley School of Law
Downloads 203 (321,535)

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Promising Justice: Contract (as) Social Responsibility

Wisconsin Law Review, Forthcoming
Number of pages: 52 Posted: 14 Jan 2020
Jonathan C. Lipson
Temple University - James E. Beasley School of Law
Downloads 153 (415,125)
Citation 3

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contract, social responsibility, corporate social responsibility, csr, human rights, multinational corporations, social norms, legal transplants, labor trafficking, sustainability, supply chains,

12.

Controlling Creditor Opportunism

Univ. of Wisconsin Legal Studies Research Paper No. 1129
Number of pages: 58 Posted: 22 Aug 2010 Last Revised: 20 Sep 2010
Jonathan C. Lipson
Temple University - James E. Beasley School of Law
Downloads 331 (196,757)
Citation 3

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bankruptcy, reorganization, financial regulation, good faith, corporate governance, chapter 11, shadow bankruptcy, opportunism, activism

13.

Brief for Amici Curiae Law Professors in Support of Petitioners, In re Jevic (Czyzewski v. Jevic Holding Corp.)

Temple University Legal Studies Research Paper No. 2016-53, UNC Legal Studies Research Paper No. 2858040
Number of pages: 40 Posted: 24 Oct 2016 Last Revised: 20 Dec 2016
Jonathan C. Lipson and Melissa B. Jacoby
Temple University - James E. Beasley School of Law and University of North Carolina School of Law
Downloads 328 (198,679)
Citation 4

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Bankruptcy, chapter 11, priority, structured dismissals, settlement, fraudulent transfer, fraudulent conveyance, SCOTUS brief

14.

Who's in the House? The Changing Role and Nature of In-House and General Counsel

Wisconsin Law Review, Vol. 2012, No. 2, 2012, Univ. of Wisconsin Legal Studies Research Paper No. 1197
Number of pages: 15 Posted: 06 Jun 2012 Last Revised: 15 Aug 2012
Jonathan C. Lipson
Temple University - James E. Beasley School of Law
Downloads 328 (198,679)
Citation 1

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In-house Counsel, general counsel, professional ethics, marketplace for legal services, private practice, biglaw

15.

Debt and Democracy: Towards a Constitutional Theory of Bankruptcy

Temple University Legal Studies Research Paper No. 2007-02, Notre Dame Law Review, Vol. 83
Number of pages: 92 Posted: 31 Mar 2007 Last Revised: 12 Jun 2008
Jonathan C. Lipson
Temple University - James E. Beasley School of Law
Downloads 307 (213,417)

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bankruptcy law, commercial law, constitutional law, courts, jurisdiction, religion, secured transactions, bankruptcy exceptionalism, Bankruptcy Clause, financial distress, constitutional theory of bankruptcy, religious liberty, due process, sovereign immunity, bankruptcy reform

16.

The Secret Life of Priority: Corporate Reorganization after Jevic

90 Washington Law Review, 2018, Forthcoming, Temple University Legal Studies Research Paper No. 2018-04
Number of pages: 83 Posted: 02 Dec 2017 Last Revised: 30 Aug 2018
Jonathan C. Lipson
Temple University - James E. Beasley School of Law
Downloads 293 (224,368)

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Jevic, chapter 11, bankruptcy, reorganization, corporate reorganization, secured credit, debtor in possession financing, structured dismissals, 363 sales, process, legal process, aggregate litigation

17.

Contracts: Law in Action - Unconscionability

Contracts: Law in Action, Forthcoming, Temple University Legal Studies Research Paper No. 2016-19
Number of pages: 41 Posted: 20 Feb 2016 Last Revised: 19 Apr 2016
Temple University - James E. Beasley School of Law, University of Wisconsin Law School, University of Wisconsin Law School and University of Wisconsin-Madison Law School
Downloads 282 (233,490)

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Contracts, unconscionability, law and society, law in action, CFPB, consumer financial protection bureau, payday lending

18.

Against Corporate Social Responsibility

Temple University Legal Studies Research Paper No. 2022-24
Number of pages: 18 Posted: 10 Oct 2022 Last Revised: 28 Nov 2022
Jonathan C. Lipson
Temple University - James E. Beasley School of Law
Downloads 262 (251,592)

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corporate social responsibility, contract social responsbility, contract, corporate governance, fiduciary duty, corporate governance, shareholder primacy, CSR, ESG, supply chain agreement

19.

The Rule of the Deal: Bankruptcy Bargains and Other Misnomers

97 Am. Bankr. L.J. 41 (2023), Temple University Legal Studies Research Paper No. 2023-13
Number of pages: 64 Posted: 11 Apr 2023 Last Revised: 28 Jun 2023
Jonathan C. Lipson
Temple University - James E. Beasley School of Law
Downloads 232 (283,964)

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bankruptcy, chapter 11, reorganization, corporate reorganization, nondebtor release, purdue pharma, sacklers, mass torts

20.

Price, Path & Pride: Third-Party Closing Opinion Practice Among U.S. Lawyers (a Preliminary Investigation)

Berkley Business Law Journal, Vol. 3, p. 59, 2006, Temple University Legal Studies Research Paper No. 2006-13
Number of pages: 71 Posted: 29 Sep 2005
Jonathan C. Lipson
Temple University - James E. Beasley School of Law
Downloads 218 (301,496)

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Closing opinions, corporate governance, legal ethics, corporations, due authority, enforceability, Enron, economic analysis

21.

Remote Control: Revised Article 9 and the Negotiability of Information

Ohio State Law Journal, Vol. 63, Forthcoming
Number of pages: 89 Posted: 17 Oct 2001
Jonathan C. Lipson
Temple University - James E. Beasley School of Law
Downloads 216 (304,175)

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Secured transactions, security interests, Article 9, uniform commercial code, collateral, proceeds, intellectual property, information technologies, biotechnologies, private property

22.

The Pattern in Securitization and Executive Compensation: Evidence and Regulatory Implications

Stanford Journal of Law, Business, and Finance, Vol. 20:2, No. 323, 2015, Temple University Legal Studies Research Paper No. 2016-07
Number of pages: 51 Posted: 16 Jan 2016 Last Revised: 08 Feb 2016
Jonathan C. Lipson, Rachel Martin, Ella Mae Matsumura and Emre Unlu
Temple University - James E. Beasley School of Law, Utah State University School of Accountancy, University of Wisconsin-Madison - Department of Accounting and Information Systems and University of Nebraska at Lincoln
Downloads 204 (321,151)

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securitization, executive compensation, banks, Dodd-Frank, agency costs

23.

Contracting COVID: Private Order and Public Good

Temple University Legal Studies Research Paper No. 2020-21
Number of pages: 38 Posted: 02 Sep 2020 Last Revised: 09 Sep 2020
Jonathan C. Lipson
Temple University - James E. Beasley School of Law
Downloads 194 (336,446)

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contract, COVID, waivers, standstills, public health, coronavirus, pandemic, COVID-19, new deal, public-private distinction, private ordering, bailouts, executive orders

24.

When Churches Fail: The Diocesan Debtor Dilemmas

Southern California Law Review, Vol. 79, p. 363, 2006, Temple University Legal Studies Research Paper No. 2006-05
Number of pages: 93 Posted: 29 Sep 2005
Jonathan C. Lipson
Temple University - James E. Beasley School of Law
Downloads 193 (338,045)

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Bankruptcy, reorganization, Chapter 11, religion, religious liberty, church, free exercise, establishment, RFRA, conflict-of-laws, equity

25.

The End(s) of Bankruptcy Exceptionalism: Purdue Pharma and the Problem of Social Debt

46 Cardozo Law Review 861 (2025)
Number of pages: 66 Posted: 15 Jan 2025 Last Revised: 03 Apr 2025
Jonathan C. Lipson and Pamela Foohey
Temple University - James E. Beasley School of Law and University of Georgia School of Law
Downloads 177 (367,394)

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reorganization, mass tort, third-party releases, Purdue Pharma, Sacklers, opioids, consent, future claims, bankruptcy, chapter 11

26.

'Special': Remedial Schemes in Mass Tort Bankruptcies

Temple University Legal Studies Research Paper No. 2023-12, Texas Law Review, Vol. 102, No. 2, 2023 (Forthcoming)
Number of pages: 19 Posted: 14 Feb 2023 Last Revised: 28 Jun 2023
Jonathan C. Lipson
Temple University - James E. Beasley School of Law
Downloads 161 (397,218)

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chapter 11, reorganization, bankruptcy, proceduralism, exit, voice, loyalty, formalism, personal injury, mass tort

27.

Brief of Amici Curiae Law Professors in Support of Appellant on the Role of Bankruptcy Examiners in Chapter 11 Reorganization

Number of pages: 44 Posted: 27 Oct 2023
Jonathan C. Lipson
Temple University - James E. Beasley School of Law
Downloads 160 (399,391)

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Bankruptcy examiners, chapter 11, conflicts, biglaw, ftx, cryptocurrency, freefall bankruptcy

28.

Cost-Benefit Analysis and Third-Party Opinion Practice

Business Lawyer, Vol. 63, August 2008, Temple University Legal Studies Research Paper No. 2009-5
Number of pages: 35 Posted: 15 Dec 2008 Last Revised: 29 Jan 2009
Jonathan C. Lipson
Temple University - James E. Beasley School of Law
Downloads 151 (419,265)

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legal opinion, closing opinion, opinion letter, cost benefit analysis, benefit cost analysis, Pareto, Kaldor-Hicks, professionalism, professional ethics, legal malpractice, legal ethics

29.

Courts As Institutional Reformers: Bankruptcy and Public Law Litigation

Columbia Public Law Research Paper No. 14-572, Temple University Legal Studies Research Paper No. 2018-05
Number of pages: 47 Posted: 08 Dec 2017 Last Revised: 26 Apr 2019
Kathleen G. Noonan, Jonathan C. Lipson and William H. Simon
University of Pennsylvania - Children's Hospital of Philadelphia, Temple University - James E. Beasley School of Law and Stanford University - Stanford Law School
Downloads 147 (428,521)

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institutional reform litigation, structural reform, public law litigation, chapter 11 bankruptcy, equity receiverships, corporate restructuring

30.

Amicus Brief of Professors Lipson and Foohey on the 'Abuse' Standard in the Purdue Pharma 2nd Circuit Appeal

Cardozo Legal Studies Research Paper No. 726
Number of pages: 34 Posted: 18 Oct 2022 Last Revised: 05 Oct 2023
Jonathan C. Lipson and Pamela Foohey
Temple University - James E. Beasley School of Law and University of Georgia School of Law
Downloads 146 (430,877)

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nondebtor release, chapter 11, plan of reorganization, purdue pharma, oxycontin, opioids, sacklers

31.

Letter of Bankruptcy Law Professors to United States Trustee Requesting an Examiner in the Purdue Pharma Chapter 11 Reorganization

Temple University Legal Studies Research Paper Forthcoming
Number of pages: 12 Posted: 02 Sep 2020
Jonathan C. Lipson
Temple University - James E. Beasley School of Law
Downloads 146 (430,877)

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Opioid Crisis, Purdue Pharma, Sackler Family, OxyContin, Chapter 11, Bankruptcy, Examiners, Non-Debtor Releases, Mass Tort Litigation

32.

Brief for Amici Curiae Bankruptcy Law Professors in Support of Petitioner (In re Purdue Pharma)

Number of pages: 51 Posted: 27 Oct 2023 Last Revised: 28 Jun 2024
Jonathan C. Lipson
Temple University - James E. Beasley School of Law
Downloads 125 (487,968)

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Purdue Pharma, chapter 11, nondebtor release, plan of reorganization, discharge

33.

Stern, Seriously: The Article I Judicial Power, Fraudulent Transfers, and Leveraged Buyouts

Wisconsin Law Review, Forthcoming, Temple University Legal Studies Research Paper No. 2013-34
Number of pages: 69 Posted: 17 Aug 2013 Last Revised: 19 Feb 2014
Jonathan C. Lipson and Jennifer Vandermeuse
Temple University - James E. Beasley School of Law and Godfrey & Kahn
Downloads 124 (491,074)

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Stern, Bellingham, Marathon, Granfinanciera, Fraudulent Transfers, Bankruptcy Courts, Formalism, Leveraged Buyouts, Article I, Federal Courts

34.

Brief of Bankruptcy Law Professors in Support of Neither Party, United States v. Bankman-Fried

Number of pages: 38 Posted: 30 Sep 2024
Jonathan C. Lipson
Temple University - James E. Beasley School of Law
Downloads 119 (510,061)

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35.

Where's the Beef: A Few Words About Paying for Performance in Bankruptcy

U of Penn, Inst for Law & Econ Research Paper No. 07-09, U of Penn Law School, Public Law Research Paper No. 07-22, Temple University Legal Studies Research Paper No. 2007-14, University of Pennsylvania Law Review, Vol. 156, 2007
Number of pages: 14 Posted: 18 May 2007
Jonathan C. Lipson
Temple University - James E. Beasley School of Law
Downloads 115 (520,232)

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bankruptcy, corporations, reorganization plan, corporate debt, creditors' committees, residual claimant unsecured creditors, executive compensation, chief restructuring officer

36.

Why (and How to) Define Securitization? A Sur-Reply to Professor Schwarcz

85 S. Cal. L. Rev. 1301 (2012), Temple University Legal Studies Research Paper No. 2013-06
Number of pages: 13 Posted: 27 Feb 2013 Last Revised: 13 Mar 2013
Jonathan C. Lipson
Temple University - James E. Beasley School of Law
Downloads 110 (537,752)

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securitization, structured finance, commercial finance, corporate finance, steven schwarcz, stipulative definitions

37.

Bargaining Bankrupt: A Relational Theory of Contract in Bankruptcy

Harvard Business Law Review, Vol. 6, No. 2, 2016
Number of pages: 58 Posted: 05 Jan 2021
Jonathan C. Lipson
Temple University - James E. Beasley School of Law
Downloads 98 (584,401)

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Bankruptcy, Reorganization, Chapter 11, Contract, Absolute Priority, Jevic, Structured Dismissals, Roll-Ups, Dip Financing, Plans of Reorganization

38.

Reforming Institutions: The Judicial Function in Bankruptcy and Public Law Litigation

Indiana Law Journal, Vol. 94, 2019, Columbia Public Law Research Paper No. 14-626 (2019), Temple University Legal Studies Research Paper No. 2019-18
Number of pages: 51 Posted: 10 May 2019 Last Revised: 13 Jun 2019
Kathleen G. Noonan, Jonathan C. Lipson and William H. Simon
University of Pennsylvania - Children's Hospital of Philadelphia, Temple University - James E. Beasley School of Law and Stanford University - Stanford Law School
Downloads 72 (702,607)
Citation 1

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public law litigation, public law, bankruptcy, bankruptcy law, corporate bankruptcy, courts

39.

The Secret Life of Priority: Corporate Reorganization After Jevic

Washington Law Review, Forthcoming
Number of pages: 83 Posted: 03 Jun 2019
Jonathan C. Lipson
Temple University - James E. Beasley School of Law
Downloads 68 (725,011)
Citation 3

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Bankruptcy, Corporate Reorganization, Reorganization, Chapter 11, Priority, Absolute Priority, APR, Jevic, Consent

40.

Against Regulatory Displacement: An Institutional Analysis of Financial Crises

17:3 Univ. Penn. J. Bus. L. 673, 2015, Temple University Legal Studies Research Paper No. 2016-12
Number of pages: 67 Posted: 17 Jan 2016 Last Revised: 08 Mar 2016
Jonathan C. Lipson
Temple University - James E. Beasley School of Law
Downloads 67 (736,597)
Citation 1

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financial crises, financial institutions, institutional choice, institutional analysis, bank regulation, bankruptcy, directors' duty to be informed, regulatory capture

41.

Bankruptcy Amnesia

Temple University Legal Studies Research Paper No. 2023-25
Number of pages: 20 Posted: 06 Oct 2023 Last Revised: 15 Dec 2023
Jonathan C. Lipson
Temple University - James E. Beasley School of Law
Downloads 35 (982,012)

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nondebtor release, chapter 11, plan of reorganization, purdue pharma, oxycontin, opioids, sacklers

42.

Foreword; Forward!

Temple Law Review, Vol. 87, 2015, Temple University Legal Studies Research Paper No. 2016-08
Number of pages: 16 Posted: 17 Jan 2016 Last Revised: 08 Feb 2016
Jonathan C. Lipson
Temple University - James E. Beasley School of Law
Downloads 34 (992,368)

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Bankruptcy, contracts, empirical methods, Bill Whitford

43.

Something Else: Specific Relief for Breach of Human Rights Terms in Supply Chain Agreements

American University Law Review, Vol. 68, No. 5, 1751, 2019, Temple University Legal Studies Research Paper Forthcoming
Number of pages: 30 Posted: 05 Mar 2020
Jonathan C. Lipson
Temple University - James E. Beasley School of Law
Downloads 32 (1,013,571)

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contracts, human rights, forced labor, supply chains, supply chain agreements, specific performance, injunction, specific relief, breach, enforcement

44.

Secrets and Liens: The End of Notice in Commercial Finance Law

21 Emory Bankr. Dev. J. 421 (2005)
Number of pages: 96 Posted: 21 Oct 2004 Last Revised: 17 Oct 2022
Jonathan C. Lipson
Temple University - James E. Beasley School of Law
Downloads 32 (1,013,571)
Citation 1

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Security interest, securitization, lien, secret lien, notice-filing, UCC-1, financing statement, bankruptcy, strong-arm power, proceeds, control

45.

Enron Rerun: The Credit Crisis in Three 'Easy' Pieces

LESSONS FROM THE FINANCIAL CRISIS: CAUSES, CONSEQUENCES AND OUR ECONOMIC FUTURE, p. 43, R. Kolb, ed., Wiley, 2010, Univ. of Wisconsin Legal Studies Research Paper No. 1130
Posted: 20 Aug 2010 Last Revised: 22 Sep 2010
Jonathan C. Lipson
Temple University - James E. Beasley School of Law

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credit crisis, enron, financial regulation, credit ratings, complexity, moral hazard, securities law, securitization, credit derivatives, credit default swaps,

46.

Fighting Fiction with Fiction: The New Federalism in (a Tobacco Company) Bankruptcy

Posted: 26 Apr 2001
Jonathan C. Lipson
Temple University - James E. Beasley School of Law

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Chapter 11, bankruptcy, reorganization, federalism, sovereign immunity, claims, subordination, discharge, states, tobacco companies, tort claims