Post-Bankruptcy Transfers: An Old Problem in Need of a New Solution

In a perfect world, a notice of bankruptcy would reach each creditor instantaneously and prevent any further disposition of the debtor’s assets. Unfortunately, we do not live in a perfect world and instead Congress has enacted sections 70a, 70d, and 21g of the Bankruptcy Act. In this article, Professor Bateman evaluates the intended and unintended consequences of these sections and provides a solution to fix the problems of a well-intended statute.