Should States Be Allowed to File for Bankruptcy?
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Under current law, cities like Detroit can file for bankruptcy but states cannot. Should that be changed? In this discussion, David Skeel, an advocate of state bankruptcy, will discuss the potential benefits of allowing Illinois or other troubled states to file for bankruptcy, as well as the principal constitutional and other objections. He also will comment on the implications of Puerto Rico’s bankruptcy, which he is involved in as chair of the Puerto Rico oversight board, for the state bankruptcy debate.
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David Skeel David Skeel is S. Samuel Arsht Professor of Corporate Law at the University of Pennsylvania Law School. He is the author of True Paradox: How Christianity Makes Sense of Our Complex World (InterVarsity, 2014); The New Financial Deal: Understanding the Dodd-Frank Act and Its (Unintended) Consequences (Wiley, 2011); Icarus in the Boardroom (Oxford, 2005); Debt’s Dominion: A History of Bankruptcy Law in America (Princeton, 2001); and numerous articles on bankruptcy, corporate law, financial regulation, Christianity and law, and other topics. Professor Skeel has also written commentaries for the New York Times, Wall Street Journal, Books & Culture, The Weekly Standard, and other publications. He has received the Harvey Levin award three times for outstanding teaching, as selected by a vote of the graduating class, the Robert A. Gorman award for excellence in upper level course teaching, and the University’s Lindback Award for distinguished teaching. To view David Skeel’s bio, click here. |
