In nearly every modern State the situation of a trader who has ceased to pay his debts as they mature in the ordinary course of business is regulated by special provisions of law... the public interest is so closely involved, by reason of the plurality of creditors who have claims against the debtor, that in most countries the intervention of a public authority has been thought necessary to adjust the conflicting rights, and to discover and punish any wrong-doing.
S. Whitney Dunscomb, Bankruptcy; A Study in Comparative Legislation 9 (1893).
The tradition of regulating the reorganization of assets and liabilities of insolvents with special provisions of law has continued since before Dunscomb's time to the present. Today, bankruptcies are heard by federal bankruptcy district courts and bankruptcy appeals in the Ninth Circuit are usually referred to the U.S. Bankruptcy Appellate Panel (BAP) of the Ninth Circuit for disposition. The Law School will be hosting the BAP of the Ninth Circuit on Friday, October 21, 2011 while the panel holds hearings for four appeals.
Coincidentally, the Law Library just began a subscription to a new HeinOnline library; HeinOnline's History of Bankruptcy is considered Part III of Taxation and Economic Reform in America. If you happen to be one of the fortunate students or faculty attending the luncheon with the BAP after their hearings, you may want to impress your colleagues and the BAP by browsing and sharing information from one of the resources provided in the History of Bankruptcy Library. It includes legislative histories, treatises, documents and more related to bankruptcy law in America. It also includes classic books dating back to the late 1800s and links to scholarly articles that are related to the study of bankruptcy in America.
Photo Credit: Preservation Virginia
Photo Credit: Preservation Virginia
This small brick structure located in Accomac, Virginia was originally built in 1782 as a jailer's residence until 1824 when iron bars, oak doors, and locks were added and it was used as a debtors' prison until 1849.
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