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    03.30.15 Professor Edward Janger’s Scholarship in the Bankruptcy Arena Garners Noteworthy Awards
    Professor Edward Janger

    Professor Edward Janger’s recent scholarship has earned him two prestigious honors:  He was awarded the 2015 Grant Gilmore Award from the American College of Commercial Finance Lawyers (ACCFL) for his co-authored article “Ice Cube Bonds,” published in the Yale Law Journal; and his article “The Logic and Limits of Liens,” was recognized for inclusion in the Best of ABI 2014: The Year in Business Bankruptcy.

    In April, Janger along with his co-author Professor Melissa Jacoby of the University of North Carolina will receive the Grant Gilmore Award for their article “Ice Cube Bonds.” The award was presented at the ACCFL’s annual dinner in conjunction with the ABA Business Law Section and a $1,000 donation was made to Brooklyn Law School in Janger’s honor. This award is given by the ACCFL when the College identifies superior writing in the field of commercial finance. This honor has not been awarded since 2008. Grant Gilmore was a co-Reporter for the original Article 9 of the Uniform Commercial Code.

    In their Yale Law Journal article, the professors propose the idea of the “ice-cube bond.”  When a debtor seeks to sell substantially all of its assets in bankruptcy early in the case pose risks to the firm and to stakeholders of the firm. The quick sale may not maximize value, and the distribution of value may be distorted. The ice cube bond would be set aside by the court to preserve for later determination disputes about valuation and distribution. 

    The American Bankruptcy Institute publishes a yearly compendium that gathers together the best essays from among ABI Journal articles and educational materials used at ABI conferences and seminars to highlight the year’s most significant developments in business bankruptcy. Janger’s article “The Logic and Limits of Liens” was submitted as part of the ABI Illinois Symposium on Chapter 11 Reform.

    Janger argues that state law entitlements should establish both the scope and limit of a secured creditor’s entitlement in bankruptcy, and that enterprise value, beyond the value of the encumbered assets, should be allocated to the bankruptcy estate.

    Janger is the David M. Barse Professor of Law and a leading expert on commercial transactions and bankruptcy law. He is the past chair of the Association of American Law Schools’ Section on Commercial and Consumer Law, and a member of the American College of Bankruptcy, the International Insolvency Institute, and the American Law Institute, and he serves on the board of directors of the Coalition for Debtor Education. At the Law School, he is co-director of the Center for the Study of Business Law and Regulation, and a faculty advisor to the Brooklyn Journal of Corporate, Financial & Commercial Law.