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It is not inconceivable that the Third Circuit’s narrow conception of the scope of Chapter 11 is preferable in today’s economic context. However, Congress and not the courts should be making this determination. Additionally, even if it is the proper province of the courts to be formulating broad shifts in bankruptcy policy, there is no question that the courts should be forced to explicitly acknowledge the choices they are making, and should justify them with sound reasoning.
The first part of this note will investigate the adoption of the good faith filing requirement in the Third Circuit...
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