UM Law School Professor William H. Widen Gives Faculty Workshop at the University of Virginia School of Law
On Friday, September 14th, 2007, UM Law School Professor William H. Widen conducted a workshop at the University of Virginia for the law school faculty focusing on Professor Widen's empirical research on bankruptcy reorganizations.
Professor Widen presented a paper titled "Should Theories of Asset Partitioning Be Revised?" In the paper, Professor Widen discusses the use of substantive consolidation in bankruptcy proceedings for large public companies. The paper compares the use of this reorganization technique against several variables using descriptive statistics and binary logistic regressions in an attempt to map the evolution of future theories of asset partitioning. Professor Widen is attempting to sharpen current theories by identifying those circumstances in which corporate form is not used to match classes of liabilities with classes of assets. Contrary to popular perceptions, in corporate reorganizations it is common for the courts and transaction participants to ignore separate legal entities when crafting a plan of reorganization.
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posted 17-September-2007
