Professor Gross' proposal to take community interests into account in bankruptcy is reminiscent of the proposal to bell the cat. Both suggestions present a solution on the theoretical level, but both are certain to fail in their application because they do not consider present realities. The community interest argument fails on three fronts: definition, application, and the role of the decisionmaker. After a short illustration, each shortcoming will be addressed in turn.
Bankruptcy law, United States, Bankruptcy, Communitarianism