Bankruptcy's Acephalous Moment: Postpetition Transfers Under the Bankruptcy Code
69 Pages Posted: 12 Jan 2003
This article tests the constitutional structure of the bankruptcy estate in the theater of conveyances that occur after a bankruptcy petition is filed. The article advocates the view that a bankruptcy trustee is not the "absolute owner" of the bankruptcy estate but owns a lien on it. A surplus interest is owned by the debtor which can be conveyed in many situations without interference by a bankruptcy trustee. In the course of the study the article attempts to mediate between bankruptcy's automatic stay and the trustee's power to avoid postpetition conveyances under Bankruptcy Code Section 549(a).
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