How Liable Should a Lender Be? The Case of Judgment-Proof Firms and Environmental Risk: Comment
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In a previously published article in this Review, Rohan Pitchford (1995) develops an interesting model of lender liability and derives an intriguing finding. He shows that when lenders are held liable for the social damages that arise from the actitives of a judgment-proof producer expected social damages may increase not decrease ....................
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Walter M. Upchurch, Jr. Distinguished Professor of Business Administration
Tracy Lewis is Professor of Economics at the Fuqua School of Business at Duke University, where he holds the Black Chair in Economics. Professor Lewis founded the Innovation Center at the University. Prior to joining the Duke University Faculty in 2003, he served on the faculties at the University of Florida, at the California Institute of Technology, the University of British Columbia, and the University of California, Davis. Aside from academic employment, he has also held positions at the Fed