About Kenneth Ayotte
Professor Ayotte's research interests are in the areas of bankruptcy, corporate finance, and law and economics. Ayotte's research uses financial and economic tools to better understand our bankruptcy system. Recent research projects include an empirical investigation into the decisions large Chapter 11 debtors make on their leases and executory contracts, and a theoretical investigation of the use of subsidiary legal entities as a path around bankruptcy's automatic stay.
|Present||Professor of Law, Berkeley Law|
Articles and Book Reviews (14)
Bankruptcy on the Side Northwestern University Law Review (2017)
This Article provides a framework for analyzing side agreements among stakeholders in corporate bankruptcy, such as intercreditor and “bad boy” agreements. These agreements are controversial because they commonly include a promise by a stakeholder to ...
Legal Entities as Transferable Bundles of Contracts Michigan Law Review (2013)
The large, modern business corporation is frequently organized as a complex cluster of hundreds of corporate subsidiaries under the common control of a single corporate parent. Our Article provides new theory and supportive evidence to ...
Creditor Control and Conflict in Chapter 11 Journal of Legal Analysis (2009)
We analyze a sample of large privately and publicly held businesses that filed Chapter 11 bankruptcy petitions during 2001. We find pervasive creditor control. In contrast to traditional views of Chapter 11, equity holders and ...
Optimal Trust Design in Mass Tort Bankruptcies Faculty Scholarship Series (2005)
Many firms have filed for bankruptcy to manage mass tort liabilities, most notably asbestos producers. We model a bankruptchy procedure that optimally balances the liquidity needs of present claimants and an uncertain number of future ...
Protecting Future Claimants in Mass Tort Bankruptcies Faculty Scholarship Series (2004)
The problem of "future claimants" plagues the resolution of mass tort bankruptcies. Mass tort injuries, such as those caused by asbestos exposure, can entail long and variable lag times between the exposure to a harmful ...
Why Do Distressed Companies Choose Delaware? An Empirical Analysis of Venue Choice in Bankruptcy Faculty Scholarship (2003)
We analyze a sample of large Chapter 11 cases to determine which factors motivate the choice of filing in one court over another when a choice is available. We focus in particular on the Delaware ...