CROSSROADS: THE COLLISION OF BANKRUPTCY'S AUTOMATIC STAY AND ENVIRONMENTAL LAW'S INJUNCTIVE RELIEf

摘要

Bankruptcy is the often the last refuge for a business entity that is saddled with enormous, unmanageable debt. One general policy for all creditors in bankruptcy is the pro-rata distribution of the debtor's assets to unsecured creditors. The Bankruptcy Code is intended to provide a forum where the debtor has an opportunity to reorganize its business in order to maintain economically feasible operation or to allow for the orderly disposition of the assets of a liquidating business. One of the bankruptcy debts of a business might be the clean-up costs for environmental damage resulting from pollution.