TY  - JOUR
AU  - Bebchuk,Lucian Arye
AU  - Fried,Jesse
TI  - The Uneasy Case for the Priority of Secured Claims in Bankruptcy: Further Thoughts and a Reply to Critics
JF  - National Bureau of Economic Research Working Paper Series
VL  - No. 6472
PY  - 1998
Y2  - March 1998
UR  - http://www.nber.org/papers/w6472
L1  - http://www.nber.org/papers/w6472.pdf
N1  - Author contact info:
Lucian A. Bebchuk
Harvard Law School
1545 Massachusetts Avenue
Cambridge, MA 02138
Tel: 617/495-3138
Fax: 617/812-0554
E-Mail: bebchuk@law.harvard.edu

Jesse Fried
Harvard
E-Mail: jfried@law.harvard.edu
AB  - In an earlier article,  The Uneasy Case for the Priority of Secured Claims in Bankruptcy,' 105 Yale Law Journal 857 (1996), we suggested that the case for a full priority of secured claims in bankruptcy is an uneasy one.  In this paper, we address various reactions and objections to our analysis that have been offered by subsequent work.  We also further develop some of the main elements of the analysis in our earlier article   with respect to both our analysis of the comparative merits of full and partial priority and our analysis of how a partial priority regime could be implemented.  The analysis confirms our earlier conclusion that the case for a full priority of secured claims in bankruptcy is an uneasy one.
ER  -