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- Title
Applying the Absolute Priority Rule to Nonprofit Enterprises in Bankruptcy.
- Authors
Rawls, Amelia
- Abstract
In this article, the author suggests a model that courts can apply in adjudicating absolute priority claims in the bankruptcy of nonprofit organizations in the U.S. She talks about entrepreneurial nonprofit groups and reasons out why their directors and members should conform with the absolute priority rule in Section 1129 of the Bankruptcy Code. She also stresses additional contextual and policy factors that can be used to assess the reorganization plan of a nonprofit.
- Subjects
UNITED States; NONPROFIT organizations; BANKRUPTCY; NONPROFIT failures; CORPORATE reorganizations; JUDICIAL opinions
- Publication
Yale Law Journal, 2009, Vol 118, Issue 6, p1231
- ISSN
0044-0094
- Publication type
Opinion