The Uneasy Case for the Priority of Secured Claims in Bankruptcy: Further Thoughts and a Reply to Critics

Lucian Bebchuk () and Jesse Fried

No 6472, NBER Working Papers from National Bureau of Economic Research, Inc

Abstract: In an earlier article, The Uneasy Case for the Priority of Secured Claims in Bankruptcy,' 105 Yale Law Journal 857 (1996), we suggested that the case for a full priority of secured claims in bankruptcy is an uneasy one. In this paper, we address various reactions and objections to our analysis that have been offered by subsequent work. We also further develop some of the main elements of the analysis in our earlier article with respect to both our analysis of the comparative merits of full and partial priority and our analysis of how a partial priority regime could be implemented. The analysis confirms our earlier conclusion that the case for a full priority of secured claims in bankruptcy is an uneasy one.

JEL-codes: G33 K22 (search for similar items in EconPapers)
Date: 1998-03
Note: LE
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Citations: View citations in EconPapers (8)

Published as Cornell Law Review Vol. 82, No. 6, pp. 1279-1348 (1997)
Published as Lucian Arye Bebchuk & Jesse M. Fried, 1996. "The Uneasy Case for the Priority of Secured Claims in Bankruptcy," The Yale Law Journal, vol 105(4).

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