Worlds in Collision: Merger Policy in Bankruptcy

Posted by D. Daniel Sokol

Max Huffman, Indiana University Robert H. McKinney School of Law offers his thoughts on Worlds in Collision: Merger Policy in Bankruptcy

ABSTRACT: Despite a deep literature on the failing firm defense and the frequency with which antitrust issues arise in corporate bankruptcy proceedings, the literature lacks an effort comprehensively to theorize an approach — and courts have not settled on a rule — that resolves the deep and enduring conflict between the estate-value-maximization goal of bankruptcy law and the consumer protection goal of merger review. This proposed article addresses that gap.