The behind-the-scenes story of the five-year legal battle over a railroad bankruptcy and the formation of Conrail, as told by a lawyer on the case. What happened when the US government stopped investing in railroads and started investing in highways and air travel? By the late 1970s, six major eastern railroads had declared bankruptcy. Although he didn’t like trains, Howard H. Lewis became the primary lawyer for the Reading Railroad during its legendary bankruptcy case. Here, Lewis provides a frank account of the high-intensity litigation and courtroom battles over the US government’s proposal to form Conrail out of the six bankrupt railroads, which meant taking the Reading’s property, leaving the railroad to prove its worth. After five grueling years, the case was ultimately settled for $186 million—three times the original offer from the US government—and Lewis became known as a champion defender of both the railroad industry and its assets. “Should be required reading in every law school, especially for students who aspire to become corporate attorneys . . . valuable insights into the creation of Conrail.” —Rush Loving, Jr., author of The Men Who Loved Trains “For the railfan, you’ll receive an insider view of this historically important period and a better understanding of how and why Conrail came into being and what it meant for rail transportation.” —Model Railroad News

This book provides an analysis and comparison of international insolvency rules, maritime laws and their inevitable intersection in maritime cross-border insolvencies. Until today, the on-going shipping crisis resulted in the insolvency of numerous shipping companies all over the world. The tensions arising between the legal systems of maritime and insolvency law, paired with conflicts of law in maritime insolvencies, are a major source of legal uncertainty and risk. In 2010, the Comité Maritime International installed an international working group on international maritime insolvencies and until today it is work in progress. This book gives an overview on maritime insolvencies, with a focus on Germany, England & Wales and the USA, and assesses the chances of achieving meaningful harmonization in the complex scenarios, where ships as mobile assets add a further complication to international insolvency proceedings.

With the rise in the number of mergers and acquisitions taking place in today's business environment, there will undoubtedly be a rise in the number of bankruptcies. Completely updated, Bankruptcy and Insolvency Accounting, Seventh Edition, Volume 2 updates the most recent forms and exhibits as a result of the new Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (BAPCPA). The process of turning around a troubled business and restructuring its financial aspects is thoroughly described for controllers, CEOs, CFOs and CPAs with small businesses as clients.