Bankruptcy Expert Available to Discuss Enron Proceedings, Flaws in Proposed Bankruptcy Reform before House and Senate
January 28, 2002
Contact: University Relations
Phone: 410.837.6190
Jonathan Lipson, assistant professor of law at the University of Baltimore School of Law, is available to discuss technical flaws in the Bankruptcy Reform Act of 2001 (Senate Bill 420/House Resolution 333) that he believes could make it easier for the next Enron to happen.
"Technical flaws in these bills will eliminate well-established checks and balances," he said.
"Among other things, Section 912 will eliminate long-standing judicial powers to avoid and recover questionable transactions. By creating a safe harbor from judicial powers to avoid and recover questionable transactions, it would, perversely, actually encourage bankruptcy court filings."
An expert in secured transactions, Professor Lipson writes frequently on corporate and commercial law. Prior to joining the UB School of Law, he worked for nearly a decade as corporate counsel to businesses and individuals involved in complex business and financial transactions.
"If the Enron debacle teaches us anything, it is that checks and balances are critical to the healthy functioning of the economy," he said.
He is available at: 410.837.4054; jlipson@ubalt.edu