A paper by a group of Duke law school students recently posted to SSRN is featured by Matt Levine in BloombergView today. Says Levine:
Meanwhile in less-sovereign debt, the other day I mentioned that some law students may have found a solution to Puerto Rico's debt problems. Here it is; it relies on provisions in the Puerto Rico Civil Code to force creditors to come to the table, negotiate in good faith, and obtain equal benefits for all creditors. It's sort of an effort to construct a bankruptcy regime out of some vague equitable statements in existing law. I like it! Elsewhere here is a report on the "Origins of the Puerto Rico Fiscal Crisis."
I do not know whether to be jealous or proud . . . okay, decision made: Im proud!
Congratulations to Duke Law students Ryan Alexander Berger, Felix Aden, and Sigurdur K. Tryggvason!
Download their paper here.
I have been following this case closely (I even wrote up a moot court problem based on the case that is now before SCOTUS), as I used to teach at the Catholic Univ law school in Ponce, P.R. Thanks for the pointer!
Thanks Enrique — hopefully their paper will be useful for you.
Kim
This is great and shows the usefulness of studying comparative law for solving tricky problems.
Dr. iur. Menno Aden
It does indeed! And perhaps specifically the benefit to US lawyers of a knowledge of civil law?