Episode 148 - Experts Debate Chapter 14 Proposal for Large Financial Institutions

Experts Debate Chapter 14 Proposal for Large Financial Institutions ABI Resident Scholar Prof. Charles Tabb talks with Profs. David Skeel of the University of Pennsylvania Law School and Stephen Lubben of Seton Hall University School of Law about the orderly liquidation authority of the Dodd-Frank Act for systemically important financial institutions (SIFIs)and proposals for a chapter 14 for SIFIs. Prof. Skeel, who worked with experts at the Hoover Institute on the chapter 14 proposal that is the basis of current legislation before Congress, believes that the Bankruptcy Code needs to be retooled for a large financial institutions. Prof. Lubben agrees with the idea of amending chapter 11 for a large financial institution, but disagrees with various parts of the Hoover Institute's chapter 14 proposal.