June 08, 2009
In a recent podcast for the American Bankruptcy Institute, HLS Professor Mark Roe ’75 along with Professor David Skeel of the University of Pennsylvania Law School and Professor Todd Zywicki of the George Mason University School of Law give their thoughts on the manner in which the federal government has inserted itself into the Chapter 11 process in recent automaker bankruptcies. The experts touch on such topics as whether the government has the power to pick the winners and losers among the stakeholders in bankruptcy cases, if the process engineered for Chrysler is a violation of the code’s absolute priority rule and what the future effects are on lenders who now must weigh new potential risks of their investments.
Roe, whose areas of expertise include corporate bankruptcy and reorganization, has written several op-eds on the automakers and bankruptcy: “Stress Testing the Government’s Chrysler Plan,” in the May 13, 2009, edition of Forbes, and “Would a GM Bankruptcy Crash Its Suppliers? They might actually be safer in Chapter 11,” in the March 2, 2009 Wall Street Journal. A Q&A with Roe, “The Great Benefits of a General Motors Bankruptcy,” appeared on the WSJ’s Deal Journal on Feb. 20, 2009.