Substantive Consolidation: A National Survey

About the Authors

• About the Authors

About the Editor

• About the Editor

Acknowledgments

• Acknowledgments

Appendices

• Appendices, A. Substantive Consolidation Cheat Sheet
• Appendices, B. List of Applicable Tests by Jurisdiction
• Appendices, C. Standard Separateness Covenants
• Appendices, D. Excerpts from S&P Guidelines

Chapter I Introduction to Substantive Consolidation

• Chapter I, A. What Is It?
• Chapter I, B. Statutory Basis

Chapter II Procedural Issues

• Chapter II, A. Requesting Substantive Consolidation
• Chapter II, B. Effects of Substantive Consolidation
• Chapter II, C. Standing to Pursue Substantive Consolidation
• Chapter II, D. Final Order Subject to Appeal

Chapter III Historical Underpinnings

• Chapter III, A. Corporate Separateness Generally
• Chapter III, B. Veil-Piercing
• Chapter III, C. Alter Ego
• Chapter III, D. Mere Instrumentality

Chapter IV Multi-Factor Tests

• Chapter IV, A. Early Factor-Based Tests
• Chapter IV, B. The Augie/Restivo Two-Factor Test
• Chapter IV, C. The Ninth Circuit Test

Chapter IX Retroactive Application

• Chapter IX, A. Retroactive Petition Dates and Preference Claims
• Chapter IX, B. Springing § 549 Claims
• Chapter IX, C. Concluding Thoughts

Chapter V Balancing Tests

• Chapter V, A. Early Second Circuit Tests
• Chapter V, B. Snider Brothers
• Chapter V, C. Auto-Train
• Chapter V, D. The Eighth Circuit Test

Chapter VI Efforts to Combine the Two Lines of Cases

• Chapter VI, A. Early Efforts
• Chapter VI, B. The Eleventh Circuit Test
• Chapter VI, C. Owens Corning

Chapter VII Permissible Consolidations

• Chapter VII, A. Parent and Subsidiary Corporations
• Chapter VII, B. Other Business Entities
• Chapter VII, C. Individuals and Business Entities

Chapter VIII Issues with Nondebtor Substantive Consolidation

• Chapter VIII, A. The Formal Approach
• Chapter VIII, B. The Equitable Approach
• Chapter VIII, C. Practical Considerations

Chapter X Considerations in Nonconsolidation Opinions

• Chapter X, A. The Fundamentals of Structured Finance
• Chapter X, B. Enhancing Bankruptcy Remoteness
• Chapter X, C. Key Considerations in Nonconsolidation Opinions