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Douglas Baird

The Unwritten Law of Corporate Reorganizations

Beyond statutes—understand the unwritten norms of reorganization law.
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What Will You Learn?

Restructuring goes beyond statutes – The Unwritten Law of Corporate Reorganizations explores the informal practices shaping bankruptcy and restructuring deals.

This restructuring law summary and key takeaways explain:

  • Judicial Discretion – How judges balance fairness and efficiency
  • Negotiated Norms – Informal practices guiding reorganizations
  • Creditors vs. Equity – Competing claims in distressed companies
  • Law in Action – Real-world practices beyond written rules

2025 application: Economic uncertainty will test bankruptcy frameworks and informal deal-making norms.

Win with Click.Apply.Grow™: Map stakeholder interests, anticipate judicial leanings, negotiate transparently, and track post-reorg performance.

Respect the unwritten. Master the process.

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About the Author

Douglas Baird is a professor and scholar of bankruptcy law recognized as one of the foremost experts on corporate restructuring and insolvency.

As a longtime faculty member at the University of Chicago Law School, he has authored leading works on bankruptcy, contracts, and law and economics.

What sets him apart: He combines deep theoretical analysis with practical frameworks for restructuring and insolvency practice.

Practitioners and policymakers using his work report better understanding of bankruptcy systems, more effective restructuring, and improved legal outcomes.

The bankruptcy law scholar shaping practice and policy globally.

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{ "@context":"https://schema.org","@type":"FAQPage", "mainEntity":[ {"@type":"Question","name":"What is the book about?","acceptedAnswer":{"@type":"Answer","text":"It explains the implicit norms and practices guiding corporate reorganizations under Chapter 11."}}, {"@type":"Question","name":"Who should read it?","acceptedAnswer":{"@type":"Answer","text":"Lawyers, judges, academics, and restructuring professionals."}}, {"@type":"Question","name":"What is the 'unwritten law'?","acceptedAnswer":{"@type":"Answer","text":"Customs, practices, and judicial doctrines beyond statutory text."}}, {"@type":"Question","name":"Does it cover creditor-debtor relations?","acceptedAnswer":{"@type":"Answer","text":"Yes, bargaining dynamics are central to reorganizations."}}, {"@type":"Question","name":"Is it theoretical or practical?","acceptedAnswer":{"@type":"Answer","text":"Both—it analyzes principles and practical implications."}} ] }

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