Professor Alan N. Resnick's article, "Finding the Shoes that Fit: How Derivative is the Trustee's Power to Avoid Fraudulent Conveyances Under Section 544(b) of the Bankruptcy Code?", was published in Cardozo Law Review (31 Cardozo L. Rev. 205)(2009).

Professor Alan N. Resnick will be speaking at two upcoming events.

On October 14, 2009, Professor Resnick will be speaking on "Disclosure Requirements by Ad Hoc Committees of Investors in Distressed Debt" at the Association of the Bar of the City of New York.

On October 19, 2009, Professor Resnick will be speaking on "Proposed Bankruptcy Rule Amendments on Disclosure Requirements and Claims Trading" at an American Bar Association program presented at the annual meeting of the National Conference of Bankruptcy Judges in Las Vegas, Nevada.

On September 15, Professor Alan N. Resnick spoke on "Bankruptcy Reform 2009: A Status Report" at a program sponsored by the Nassau Academy of Law, held at the Nassau County Bar Association.

Alan N. Resnick, Benjamin Weintraub Distinguished Professor of Bankruptcy Law, co-authored the following New York Law Journal article.

Involuntary Bankruptcy Filings: Raise Timely or Risk Waiver
New York Law Journal
By Jean E. Hanson and Alan N. Resnick
March 23, 2009

EXCERPT
Bankruptcy relief is usually sought voluntarily by financially troubled companies seeking to reorganize or liquidate their businesses. However, the Bankruptcy Code also makes bankruptcy relief available as a creditor's remedy. In an economic downturn, frustrated creditors are likely to resort to involuntary bankruptcy relief with greater frequency as a way to protect or maximize the value of their recoveries against defaulting debtors with depreciating or disappearing assets.

Eligibility requirements for filing a voluntary bankruptcy petition are few and access to the bankruptcy system is relatively easy; having a residence, domicile, property, or a place of business in the United States is all that is required for most entities.1

However, recognizing the need to give creditors the ability to force an unwilling debtor into a liquidation or reorganization under the protection of the Bankruptcy Code where justified by the circumstances, while also recognizing that debtors need protection from unwarranted and stigmatizing involuntary petitions, Congress struck a balance by imposing strict requirements for the filing of involuntary petitions.

Professor Alan Resnick, Benjamin Weintraub Distinguished Professor of Bankruptcy Law, authored "Letter of Credit as a Landlord's Protection Against a Tenant's Bankruptcy: Assurance of Payment or False Sense of Security?" recently published in The American Bankruptcy Law Journal. The American Bankruptcy Law Journal publishes articles that have been peer-reviewed by leading bankruptcy scholars. The Journal is published by the National Conference of Bankruptcy Judges.

“In commercial lease transactions, landlords often accept letters of credit issued by a bank to secure the tenant's obligations,” said Resnick. His research has found that courts are in disagreement, and some courts use faulty reasoning, on the degree of protection that a letter of credit gives the landlord in the event of the tenant's bankruptcy.

Resnick believes that “landlords should be aware that letters of credit, which are usually the most reliable form of credit enhancement, may provide a false sense of security rather than total protection in the event of the tenant's bankruptcy,” he said. “I propose a judicial approach, as well as legislation, to correct this problem so that letters of credit will give landlord's greater protection consistent with general bankruptcy principles.”