Bankruptcy

I am most grateful to Matthew Stoker for assistance and the Sarah Scaife Foundation, the Lynde and Harry Bradley Fund, and the John M. Olin Foundation for support.

For particularly helpful comments, I am grateful to Margaret Blair, George S. Geis, Jeffrey N. Gordon, Allan L. Gropper, Rich Hynes, Stacey Iris, Robert J. Jackson Jr, Alvin K. Klevorick, Jody S. Kraus, Jonathan M. Landers, Paul G. Mahoney, Richard G. Mason, Richard A. Posner, Randall S. Thomas, and William H. Widen. This Article also benefited from discussions at faculty workshops at Vanderbilt University Law School and the University of Virginia School of Law. Gabriel Gillett provided excellent research assistance.

I thank Daniel Abebe, Barry E. Adler, Kenneth Ayotte, Adam B. Badawi, Douglas G. Baird, Omri Ben-Shahar, Erin M. Casey, Stephen Choi, Lee Anne Fennell, Joseph A. Grundfest, M. Todd Henderson, William Hubbard, Mitchell Kane, Ashley Keller, Randall L. Klein, Saul Levmore, Douglas Lichtman, Anup Malani, Troy McKenzie, Jon D. Michaels, Anthony Niblett, Randal C. Picker, Eric Posner, Robert K. Rasmussen, Andres Sawicki, Naomi Schoenbaum, Julia Simon-Kerr, Richard Squire, Lior Strahilevitz, Matthew Tokson, George G. Triantis, Noah Zatz, participants at the Annual Meeting of the American Law and Economics Association, participants at the Annual Meeting of the Midwestern Law and Economics Association, participants at the University of Chicago Law School Faculty Works-in-Progress Workshop, participants at the University of Southern California Center in Law, Economics, and Organization Workshop, and the faculties of Columbia Law School, Cornell Law School, Emory Law School, Marquette University Law School, Stanford Law School, the University of Alabama School of Law, University of California Irvine School of Law, the University of Chicago Law School, University of Colorado Law School, University of Georgia Law School, the University of Minnesota Law School, and Vanderbilt University Law School for helpful comments and discussion.

Thanks to Ken Ayotte, Barry Adler, Oren Bar-Gill, G. Allen Bass, Ed DeSeve, Lee Fennell, Rick Hills, Omer Kimhi, Daryl Levinson, Julie Roin, David Skeel, and participants in workshops at New York University School of Law and the University of Chicago Law School.

I am grateful to Barry Adler, Christopher Bruner, Joshua Fairfield, Anna Gelpern, Clay Gillette, Claire Hill, Margaret Howard, Richard Hynes, Tom Jackson, Lyman Johnson, John Langbein, Michael McConnell, Joshua Rauh, Roberta Romano, and to participants at the Yale Law School Corporate Law Center breakfast program in New York City, the State and Municipal Default Workshop at the Hoover Institution, the law and economics seminar at the University of Minnesota Law School, and a faculty workshop at Washington and Lee School of Law for helpful comments and conversation; to Bill Draper for comments and legislative analysis; to Elizabeth Hendee, Albert Lichy, David Payne, and Spencer Pepper for research assistance; to the University of Pennsylvania Law School for generous summer funding; and to the editors of The University of Chicago Law Review for terrific editorial suggestions.