Municipal Insolvency: The New Chapter IX of the Bankruptcy Act

In this report we give an introduction to a constructive way of treating systems of polynomial equations and inequalities. We present a method called cylindrical algebraic decomposition (CAD) discovered 1973 by Collins. The method constructs a decomposition of Rn such that a given set of polynomials have constant sign on each component. All concepts needed to understand the algorithm is presented, e.g., polynomial remainder sequences, subresultants, principal subresultant coefficients, Sturm chains and algebraic number representations

Social Costs of Mass Privatization

According to leading economic theorists, creating capitalism out of communism requires rapid privatization. In this article we empirically test the welfare implications of privatization policies in Post-Soviet countries by using cross-national panel mortality data as an indicator of social costs. We find that rapid privatization – whether measured by a novel measure of mass privatization program implementation or Enterprise Bank for Reconstruction and Development privatization outcome scores – is a critical determinant of life expectancy losses, and that when privatization policies are reversed, life expectancy improves. Using selection models, we show that endogeneity understates the social costs of rapid privatization.privatization, postcommunist, mortality crisis

Jurisdiction and Procedure Under the Bankruptcy Amendments of 1984

The complexity and possible invalidity of the 1984 amendments arise from Congress\u27 refusal to constitute the bankruptcy courts as article III courts. The only group, if any, that this refusal has aided is the district court bench, by keeping their numbers small (except to the extent that additional bankruptcy duties re-quire additions to their numbers) and their status elite. The congressional action works against the needs of all parties involved in the functioning of the Bankruptcy Code and the judicial system itself. Debtors in Bankruptcy Code cases are left uncertain as to the authority of the bankruptcy courts adjudicating proceedings in their cases. New layers of potential litigation tactics have been added, which will further burden the bankruptcy court system and the district court system, both of which have sufficient real and legitimate work to perform. Aside from the merits of the arguments opposing the bankruptcy system instituted pursuant to the 1984 amendments, in view of the Supreme Court\u27s pronouncements in Northern Pipeline, it is irresponsible for Congress to have enacted legislation containing such inherent risks of constitutional invalidity when the lives of so many financially troubled persons and companies look to the federal bankruptcy laws for a fresh start and reorganized future

Materials on Reorganization, Recapitalization and Insolvency. by Walter J. Blum and Stanley A. Kaplan.

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