Business Law News 3 - College of Law

Lawless and co-authors discuss their book “Debt’s Grip: Risk and Consumer Bankruptcy” in 2-part series with Law360

Professor Robert Lawless, along with co-authors Pamela Foohey and Deborah Thorne, recently sat down with Law360 for an in-depth interview on their book “Debt’s Grip: Risk and Consumer Bankruptcy.” The book is the latest to come out of the Consumer Bankruptcy Project, a long-term interdisciplinary research project on consumer bankruptcies in the U.S. that began in 1981. The authors discussed what they were hoping to learn (and what surprised them), how the data on who is filing for bankruptcy has changed over time, and what they want lawmakers to take away from the book.

Read Part 1 and Part 2 of the interview.

Brubaker featured on Harvard Bankruptcy Roundtable

Professor Brubaker speaks during a live podcast recording at the College of Law

A new paper from Professor Ralph Brubaker, “Assessing the Legitimacy of the ‘Texas Two-Step’ Mass-Tort Bankruptcy,” was recently featured on the Harvard Law School Bankruptcy Roundtable. Brubaker’s article analyzes the “Texas Two-Step” maneuver as courts grapple with legal challenges to the fundamental legitimacy of it. The paper was also listed on SSRN’s Top Downloads for Bankruptcy, Reorganization & Creditors eJournal and for Law & Society: Private Law-Financial Law eJournal.

Read the article online.

Lawsky speaks on tax panel at Pittsburgh School of Law

Fall view of Illini Union from north of Green Street.

On October 17, Professor Sarah Lawsky was part of a panel discussion at the University of Pittsburgh School of Law covering “AI in Tax Law: Tax Administration &
Educating the Next Generation.” She was one of eight panelists from academia, industry, government sharing expertise on the role of artificial intelligence in tax administration, legal practice, and tax law education.

Lawsky publishes article in Yale Journal on Regulation

In the most recent issue of the Yale Journal on Regulation, Professor Sarah Lawsky has published a note as part of the symposium on Joshua D. Blank and Leigh Osofsky’s “Automated Agencies: The Transformation of Government Guidance.” In her article, she concludes, “Automated guidance thus might exacerbate the access to justice gap. Unlike publications, automated guidance may fool people into thinking that they have received individualized guidance, when they actually have not.”

Read her full note online.

Lawless discusses new book with WBGL

Speaking about his new book, “Debt’s Grip,” Professor Robert Lawless sat down with WBGL’s Community Matters program. He discussed the research that went into the work, how bankruptcy affects the lives of everyday Americans, and common misconceptions about the bankruptcy process. He concluded with advice for how to support those going through financial hardships.

Listen to the program on Soundcloud.

Kaplan presents forthcoming paper at George Mason

Professor Kaplan teaches in front of a blackboard

Professor Richard Kaplan recently presented his paper, entitled “The Law and Economics of Financing Long-Term Care: An Unrecognized Impediment to Wealth Transmission,” at a symposium on The Law and Economics of Wealth Management and Transmission sponsored by the George Mason University Law School. The paper will be published in the George Mason Law Review.

Brubaker ’89 and Sprayregen ’85 debate at National Conference of Bankruptcy Judges

Professor Ralph Brubaker ’89 and Jamie Sprayregen ’85 had a collegial debate about current bankruptcy issues at the National Conference of Bankruptcy Judges in Chicago in late September. The conversation was moderated by Bankruptcy Judge Michelle Harner.

Watch the video of their debate online.

Anderson and Lawless write about crypto and retirement for Bloomberg

The sun rises over the Illini Union. The Illini Union, which was dedicated in 1941, serves students and the campus in many ways, including housing the Illini Union Hotel, a credit union, a convenience store, information services, CITES (Campus IT) instructional facility, quick-service restaurants, a bowling alley and arcade, student performance spaces, and office space for Registered Student Organizations, student government, Student Legal Services, Student Tenant Union, LGBT Resource Center, and Union administration.

In a new opinion article published by Bloomberg, Professors Sean Anderson and Robert Lawless explain why they believe the Trump administration’s decision to allow workers to invest retirement savings in cryptocurrency and private equity is a bad decision for the workers. “There is no reason to expect that inviting plans to offer these alternative investments will lead to better outcomes overall for participants—especially considering the higher fees and expenses that typically come with them,” they write. “But there is ample reason to think these investment options will make things worse by increasing the risk of large losses for participants, most of whom can ill afford them.”

Read their full editorial.

Lawless discusses new book with Illinois News Bureau

In his new book, Debt’s Grip: Risk and Consumer Bankruptcy, Professor Robert Lawless and co-authors Pamela Foohey and Deborah Thorne examine the stories and the data behind people who file for bankruptcy in the U.S., finding the human nuance in the bankruptcy system. “When we thought about writing this book, we asked ourselves, ‘What do we have from the data that we think people would want to read?’” Lawless told the Illinois News Burea. “We also wanted to write a book that had a broader reach, so we realized that we had to show both the data and the personal stories of the people who show up in bankruptcy court.”

Illinois LawCast: Discussing Debt’s Grip with Professor Robert Lawless

Illinois LawCast artwork with portrait of Robert Lawless

We kick off season two with an engrossing conversation with Professor Robert Lawless about his new book, Debt’s Grip: Risk and Consumer Bankruptcy. The book explores financial precarity in the United States and utilizes original data from the Consumer Bankruptcy Project, including the words of bankruptcy filers themselves to shed light on their situations. Professor Lawless shared insight into how he began his work on this project, how the book came about, and how the research has helped him as a teacher at Illinois Law.

For more information about Debt’s Grip, including ways to purchase the book, please visit the publisher’s website: https://www.ucpress.edu/books/debts-grip/paper

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