The People's Welfare and the Origins of Corporate Reorganization
The Wabash Receivership Reconsidered
Bibliographic Data
| ID | 9625849 |
|---|---|
| Authors | Bradley A Hansen (University of Mary Washington, corresponding author), Bradley Hansen |
| Year | 2000 |
| Volume | 74 |
| Issue | 3 |
| Pages | 377-405 |
| Publication date | 2000-01-01 |
| Peer Reviewed | Yes |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | The Business History Review (JOURNAL) |
| Journal identifiers | ISSN: 0007-6805 • E-ISSN: 2044-768X |
| Publisher | Cambridge University Press (CUP) (PUBLISHER) |
| DOI | 10.2307/3116432 |
| OpenAlex | W2130840551 |
| Language | EN |
| Citations received | 3 |
| References cited | 29 |
The 1884 receivership of the Wabash, St. Louis, and Pacific Railway is widely regarded as a turning point in the development of corporate insolvency law. It is said to have created a “new-fashioned receivership,” which enabled debtors to initiate and, to a great extent, control receiverships. It is said that these new-fashioned receiverships facilitated reorganization of the insolvent firm at the expense of creditors' rights. An examination of the history of railroad receiverships reveals that for decades before 1884 judges allowed managers to initiate receiverships, appointed managers as receivers, and forced creditors to accept changes in their contractual rights. Judges also refused to extend reorganization procedures to corporations outside the railroad industry, justifying their special treatment of railroads on the grounds that the foremost obligation of railroads was to serve the public. Analysis of railroad bond prices supports the conclusion that creditors' rights were not transformed by the courts in the mid-1880s
Bankruptcy · Business · Creditor · Debt · Insolvency · Obligation · Political science · Receivership · Finance · Law · Transport and Economic Policies
The Transformation of American Law 1870–1960
Socializing Capital
The Political Economy of Substantive Due Process
Government Loan Guarantees and the Failure of the Canadian Northern Railway
Pitfalls in the Estimation of the Yield on British Consols, 1850–1914
The Creative Financing of an Unprofitable Enterprise
Regional Interest Rate Premia in the American Railroad Bond Market from 1876 to 1890
The Origins of an Expanded Federal Court Jurisdiction
Vulture Capitalism in Antebellum America
Antitrust and Business Activity
Commercial Associations and the Creation of a National Economy
What Have Lawyers Done For American Business? The Case of Baker & Botts of Houston
Business Failure, Judicial Intervention, and Financial Innovation
Railroads and the Equity Receivership
| Unique citing works | 3 |
|---|---|
| Citations per year | 0,18 |
| Citation span | 2009 - 2017 (9) |
| Citation velocity | historical |
| Highly cited | No |
| Citation types | Neutral: 3 |