GM and Chrysler: The End of Bankruptcy as We Know It?
The American Lawyer
Almost every bankruptcy expert The Am Law Daily talks to agrees that the super-fast General Motors and Chrysler bankruptcies diverted from traditional bankruptcy law because of the government's huge role in each case and the danger that liquidation might have posed to the broader economy. What they don't agree on is whether the cases set a meaningful precedent for future judges.
QUOTE(Snuffysmith @ Jul 9 2009, 07:11 AM) 
GM and Chrysler: The End of Bankruptcy as We Know It?
The American Lawyer
Almost every bankruptcy expert The Am Law Daily talks to agrees that the super-fast General Motors and Chrysler bankruptcies diverted from traditional bankruptcy law because of the government's huge role in each case and the danger that liquidation might have posed to the broader economy. What they don't agree on is whether the cases set a meaningful precedent for future judges.
The American Lawyer
Almost every bankruptcy expert The Am Law Daily talks to agrees that the super-fast General Motors and Chrysler bankruptcies diverted from traditional bankruptcy law because of the government's huge role in each case and the danger that liquidation might have posed to the broader economy. What they don't agree on is whether the cases set a meaningful precedent for future judges.
In the long run, the end never justifies the means...on the other hand, in the long run, we'll all be dead...
I think that lawyers are beefing about the precedent of getting through BK so fast that they can't bill enough hours. Even with cheating, there are only 168 hours a week, so if the BK is done in 8 weeks, that is the upper limit.
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