The Yale Law Journal

Melissa B. Jacoby


Shocking Business Bankruptcy Law

Melissa B. Jacoby

The intersection of major crises and financial distress generates no shortage of stock stories. This Essay offers one more: how shocks can be used opportunistically in big Chapter 11 cases to unravel bankruptcy law, and to shift the system further away from the objective of responding to overindebte…


Ice Cube Bonds: Allocating the Price of Process in Chapter 11 Bankruptcy

Melissa B. Jacoby & Edward J. Janger

In Chrysler’s Chapter 11 bankruptcy, a finding that the debtor was losing $100 million per day justified the hurry-up sale of the company to Fiat. The assertion that a firm is a melting ice cube is frequently offered, soon after a bankruptcy filing, to justify a qui…