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Anthony Casey

Academic Faculty

Full Time Teaching Faculty

Anthony J. Casey

Donald M. Ephraim Professor of Law and Economics, Faculty Director, The Center on Law and Finance

Biography

Tony Casey is an expert on business law, finance, and corporate bankruptcy. His research—which has been published in the Yale Law Journal, the Columbia Law Review, the Supreme Court Review, and the University of Chicago Law Review—examines the intersection of finance and law. He has also written about the role of intellectual property law in the organization and financing of creative projects and about how technological innovation is changing the foundations of our legal system more generally.

Before entering academics, Professor Casey was a partner at Kirkland and Ellis, LLP. Before joining Kirkland & Ellis, he was an associate at Wachtell, Lipton, Rosen & Katz. His legal practice focused on corporate bankruptcy, merger litigation, white-collar investigations, securities litigation, and complex class actions. Casey also served as a law clerk for Chief Judge Joel M. Flaum of the United States Court of Appeals for the Seventh Circuit.

Professor Casey received his JD with High Honors in 2002 from the University of Chicago Law School. He received the John M. Olin Prize for the outstanding student of law and economics.

Professor Casey teaches courses and seminars in corporate governance, business law, bankruptcy and reorganization, finance, litigation strategy, civil procedure, and law and technology.

Education and Experience

Education

The University of Chicago Law School

JD, with High Honors, June 2002

  • John M. Olin Prize for the Outstanding Student in Law and Economics
  • Order of the Coif
  • The University of Chicago Law Review

Georgetown University

AB, magna cum laude, 1999

  • Majors: Economics (with Honors), Political Theory
  • Phi Beta Kappa
  • Omicron Delta Epsilon (Economics Honor Society)
  • Pi Sigma Alpha (Political Science Honor Society)

Experience

The University of Chicago Law School

Donald M. Ephraim Professor in Law and Economics, 2021-present
Founder and Faculty Director, The Center on Law and Finance, 2019-present
Deputy Dean, 2020-2023
Professor of Law, 2016-2020
Mark Claster Mamolen Teaching Scholar, 2015-2018
Assistant Professor of Law, 2011-2016
Bigelow Fellow and Lecturer in Law, 2009-2011

Singapore Management University

Singapore Global Restructuring Initiative Visiting Professor, Fall 2023

Hebrew University of Jerusalem, Faculty of Law

Visiting Professor, Spring 2023

National University of Singapore

Visiting Professor, winter 2021

Havard Law School

Robert Braucher Visiting Professor of Law, spring 2020

Kirkland & Ellis, LLP

Partner, Chicago, IL, 2008-2009
Associate, 2006-2008

Wachtell, Lipton, Rosen & Katz

Associate, New York, NY, 2004 – 2006  

United States Court of Appeals for the Seventh Circuit

Law Clerk to Chief Judge Joel M. Flaum, 2002-2003

Publications

Books (Author)

  • Business Associations: Cases and Materials (Independently Published, 2023) (with Adam Badawi).
  • Baird and Jackson's Bankruptcy Cases, Problems, and Materials (5th ed.) (West Academic, 2020) (with Edward Morrison & Barry E. Adler).www
  • Bankruptcy: Cases, Problems, and Materials (5th ed.) (Foundation Press, 2018) (with Barry E. Adler & Edward Morrison).

Journal Articles

  • "Kalven For Corporations: Should For-Profit Corporations Adopt Public Statement Policies?," 3 The University of Chicago Business Law Review 305 (2024) (with Tom Ginsburg). cu www
  • "Bankruptcy by Another Name," 133 Yale Law Journal Forum 1016 (2024) (with Joshua C. Macey). www
  • "Insolvency Courts: General Principles for Systems Design," 33 International Insolvency Review 23 (2024) (with Joshua C. Macey). www
  • "Does Chapter 11 of the Bankruptcy Code Authorize Nonconsensual Nondebtor Releases? (23-124)," 51 Preview of United States Supreme Court Cases 25 (2023).
  • "Problems with Probability," 73 University of Toronto Law Journal 92 (2023) (with Anthony Niblett). www
  • "In Defense of Chapter 11 in Mass Torts Cases," 90 University of Chicago Law Review 973 (2023) (with Joshua C. Macey). ssrn www
  • "Foreword (Symposium on The Economic Structure of Corporate Law at Thirty: A Retrospective on the Work of Easterbrook & Fischel)," 1 The University of Chicago Business Law Review iii (2022) (with Hajin Kim & Joshua C. Macey). www
  • "The Bankruptcy Tribunal," 96 American Bankruptcy Law Journal 749 (2022) (with Joshua C. Macey).
  • "The Limits of Public Contract Law," 85 Law and Contemporary Problems 51 (2022) (with Anthony Niblett). ssrn
  • "Bankruptcy & Bailouts, Subsidies & Stimulus: The Government Toolset for Responding to Market Distress," 2021 University of Chicago Legal Forum 63 (2021). www
  • "Micro-Directives and Computational Merger Review," 1 Stanford Computational Antitrust 132 (2021) (with Anthony Niblett). www
  • "Bankruptcy Shopping: Domestic Venue Races and Global Forum Wars," 37 Emory Bankruptcy Developments Law Journal 436 (2021) (with Joshua C. Macey). www
  • "Chapter 11's Renegotiation Framework and the Purpose of Corporate Bankruptcy," 120 Columbia Law Review 1709 (2020). ssrn www
  • "The Bankruptcy Partition," 166 University of Pennsylvania Law Review 1675 (2018) (with Douglas G. Baird & Randal C. Picker). ssrn cu
  • "Corporate Bankruptcy Panel—Chapter 11 Cramdown Interest Rates: Till, Momentive, and the Proper Valuation Method," 33 Emory Bankruptcy Developments Law Journal 425 (2017) (with Ralph Brubaker & Susan Freeman & Bruce A. Markell). cu
  • "Self-Driving Contracts," 43 Journal of Corporation Law 1 (2017) (with Anthony Niblett). cu
  • "The Death of Rules and Standards," 92 Indiana Law Journal 1401 (2017) (with Anthony Niblett). cu
  • "Bankruptcy on the Side," 112 Northwestern University Law Review 255 (2017) (with Kenneth M. Ayotte & David A. Skeel). ssrn cu
  • "The Problem of Creative Collaboration," 58 William and Mary Law Review 1793 (2017) (with Andres Sawicki). cu
  • "Consumer Bankruptcy Pathologies: Comment," 173 Journal of Institutional and Theoretical Economics 197 (2017). ssrn cu
  • "A New Proposal for Intercreditor and Other Side Agreements," 35 ABI Journal 18 (2016) (with Kenneth M. Ayotte & David A. Skeel). cu
  • "Bankruptcy's Endowment Effect," 33 Emory Bankruptcy Developments Law Journal 141 (2016). ssrn cu
  • "Self-Driving Laws," 66 University of Toronto Law Journal 429 (2016) (with Anthony Niblett). cu
  • "A Framework for Bailout Regulation," 91 Notre Dame Law Review 479 (2015) (with Eric A. Posner). cu
  • "The Article III Problem in Bankruptcy," 82 University of Chicago Law Review 1155 (2015) (with Aziz Z. Huq) (selected for presentation at the 2015 Harvard/Stanford/Yale Junior Faculty Forum). ssrn cu
  • "The New Corporate Web: Tailored Entity Partitions and Creditors’ Selective Enforcement," 124 Yale Law Journal 2680 (2015). ssrn cu www
  • "A Simple Theory of Complex Valuation," 113 Michigan Law Review 1175 (2015) (with Julia Simon-Kerr). cu www
  • "The Boundaries of 'Team' Production of Corporate Governance," 38 Seattle University Law Review 365 (2015) (with M. Todd Henderson). cu www
  • "Noise Reduction: The Screening Value of Qui Tam," 91 Washington University Law Review 1169 (2014) (with Anthony Niblett). ssrn cu
  • "The Fannie and Freddie Bailouts Through the Corporate Lens," 10 New York University Journal of Law and Business 443 (2014) (with Adam Badawi).
  • "Auction Design for Claims Trading," 22 American Bankruptcy Institute Law Review 133 (2014). ssrn cu
  • "Copyright in Teams," 80 University of Chicago Law Review 1683 (2013) (with Andres Sawicki). ssrn cu www
  • "Bankruptcy Step Zero," 2012 Supreme Court Review 203 (2013) (with Douglas G. Baird). ssrn cu
  • "No Exit? Withdrawal Rights and the Law of Corporate Reorganizations," 113 Columbia Law Review 1 (2013) (with Douglas G. Baird). ssrn cu
  • "Mind Control: Firms and the Production of Ideas," 35 Seattle University Law Review 1061 (2012). ssrn cu
  • "The Creditors' Bargain and Option-Preservation Priority in Chapter 11," 78 University of Chicago Law Review 759 (2011). ssrn cu
  • "Maintaining the Integrity of Death: An Argument for Restricting a Defendant's Right to Volunteer for Execution at Certain Stages in Capital Proceedings," 30 American Journal of Criminal Law 75 (2002). ssrn cu

Book Sections

  • "Self-Driving Contracts and AI: Present and Near Future," in The Cambridge Handbook of Private Law and Artificial Intelligence, Ernest Lim & Phillip Morgan eds. (Cambridge University Press, 2024) (with Anthony Niblett). ssrn www
  • "Deconstructing the Senior Creditor," in Corporate Law and Economics, Adam Badawi ed. (2023) (with Andrew Verstein).
  • "Beyond Options," in Research Handbook on Corporate Bankruptcy Law, Barry E. Adler ed. (Elgar Publishing, 2020) (with Edward Morrison). www
  • "Coase and the Corporate Client," in Ronald H. Coase (University of Chicago Law School, 2014). cu

Other Publications

  • "Bankruptcy by Another Name," The CLS Blue Sky Blog, April 3, 2024 (with Joshua C. Macey). www
  • "Bankruptcy by Another Name," Harvard Law School Bankruptcy Roundtable, April 3, 2024 (with Joshua C. Macey). www
  • "A Commitment Rule for Insolvency Forum," Oxford Business Law Blog, February 13, 2024 (with Aurelio Gurrea Martinez & Robert K. Rasmussen). www
  • "How a Commitment Rule Would Improve the Choice of Cross-Border Insolvency Forum," The CLS Blue Sky Blog, January 29, 2024 (with Aurelio Gurrea Martinez & Robert K. Rasmussen). www
  • "Prof. Tony Casey Speaks Up on Purdue Pharma," Creditor Rights Coalition, August 26, 2023. www
  • "Opinion: The Supreme Court should bless the Purdue Phrama settlement," The Washington Post, August 21, 2023 (with Edward Morrison). www
  • "In Defense of Chapter 11 for Mass Torts," Harvard Law School Bankruptcy Roundtable, May 30, 2023 (with Joshua C. Macey). www
  • "Crypto Volatility and The Pine Gate Problem," Harvard Law School Bankruptcy Roundtable, March 21, 2023 (with Brook E. Gotberg & Joshua C. Macey). www
  • "A Qualified Defense of Divisional Mergers," Harvard Law School Bankruptcy Roundtable, June 28, 2022 (with Joshua C. Macey). www
  • "Bankruptcy Shopping: Domestic Venue Races and Global Forum Wars," Oxford Business Law Blog, May 6, 2021 (with Joshua C. Macey). www
  • "Bankruptcy Shopping: Domestic Venue Races and Global Forum Wars," Herstructurering & Recovery Online, May 5, 2021 (with Joshua C. Macey). www
  • "Bankruptcy Shopping: Domestic Venue Races and Global Forum Wars," CLS Blue Sky Blog, May 5, 2021 (with Joshua C. Macey). www
  • "Bankruptcy Shopping: Domestic Venue Races and Global Forum Wars," Harvard Law School Bankruptcy Roundtable, April 27, 2021 (with Joshua C. Macey). www
  • "Bankruptcy & Bailouts; Subsidies & Stimulus: The Government Toolset for Responding to Market Distress," Harvard Law School Bankruptcy Roundtable, April 1, 2021. www
  • "The Government Tools for Responding to Market Distress," CLS Blue Sky Blog, March 1, 2021. www
  • "The Hertz Maneuver (and the Limits of Bankruptcy Law)," Harvard Law School Bankruptcy Roundtable, January 12, 2021 (with Joshua C. Macey). www
  • "Thoughts on the Immediate Future of Arbitration," New Era ADR, 2021. www
  • "The Hertz Maneuver (and the Limits of Bankruptcy Law)," Oxford Business Law Blog, December 16, 2020 (with Joshua C. Macey).
  • "The Hertz Maneuver (and the Limits of Bankruptcy Law)," University of Chicago Law Review Online, October 7, 2020 (with Joshua C. Macey). ssrn www
  • (MIT Computation Law Report )(2020) (with Anthony Niblett). ssrn www
  • "Large Corporations Did Not Need a Bailout," CLS Blue Sky Blog, April 14, 2020. www
  • "The New Bargaining Theory of Corporate Bankruptcy and Chapter 11's Renegotiation Framework," Harvard Law School Bankruptcy Roundtable, September 24, 2019. www
  • "The Bankruptcy Partition," CLS Blue Sky Blog, April 30, 2018 (with Douglas G. Baird & Randal C. Picker). www
  • "Toys 'R' Us and Bankruptcy: Death by Disruption, Not Debt," CLS Blue Sky Blog, April 23, 2018 (with Brook E. Gotberg). www
  • "Beyond Stakeholder Options in Bankruptcy," CLS Blue Sky Blog, December 20, 2016 (with Edward Morrison). www
  • "The New Corporate Web: Tailored Entity Partitions and Creditors' Selective Enforcement," CLS Blue Sky Blog, October 30, 2014. www
  • "Entity Partitioning and Tailored Bankruptcy," The CLS Blue Sky Blog, April 25, 2013. www
  • "Dodd-Frank’s Missed Opportunity on Whistleblower Law," The CLS Blue Sky Blog, March 29, 2013. www

Presentations
  • Insolvency Law in Emerging Markets and Developing Economies; Bank Resolution in Recent Times: SVB Case Study, Annual Conference of the Insolvency Scholars Forum, India, 2024
  • Report on Mediation, To the Insolvency Bankruptcy Board of India Expert Committee on Mediation, 2023
  • The Function of Bankruptcy Law and the Role of Insolvency Judges, Fundación Institucionalidad y Justicia, Business Law Week, 2023
  • Crypto Bankruptcies, A Case Study: Voyager, CREDIT Conference, Chicago Booth School of Business, 2023
  • Mass Tort & Bankruptcy; Liability Management, Dechert Distressed Investing Forum, 2023
  • Crypto Bankruptcies, University of Chicago Law Germany Alumni, Annual Meeting, 2023
  • Examining Venue, Ethics, and Bad-Faith Issues in 2020-2021 Bankruptcy Filings, American Bankruptcy Institute Annual Spring Meeting, 2022
  • The Purpose and Promise of Corporate and Insolvency Law Escuela Libre de Derecho, Invited Lecture at 110th Anniversary Conference 2022
  • Litigation Update: In re LTL Management, Federalist Society Litigation Practice Group, 2022
  • Bankruptcy and Mass Torts: Examining the Economics Purposes, and Structure of Bankruptcy Law in Light of Developments in Congress and the Courts, Law & Economics Center, Antonin Scalia Law School, 2022
  • Bankruptcy Shopping: Domestic Venue Races and Global Forum Wars, Business Law Workshop at University of Oxford Faculty of Law, 2021
  • Of Bankruptcy, Bailouts, and Subsidies: Law for Economic and Financial Distress in a Pandemic, The University of Chicago Legal Forum Symposium, 2020
  • Chapter 11’s Renegotiation Framework and the Purpose of Corporate Bankruptcy, Harvard Law School’s Law and Economics Seminar, 2020
  • Keynote: Chapter 11’s Renegotiation Framework, Conference on Financial Distress: Global and Asian Perspectives (City University of Hong Kong), 2020
  • Building a Bankruptcy Practice, Guam and CNMI Bankruptcy Seminar Series, 2020
  • Supreme Court Review, ABI/NCBJ, 2019
  • Chapter 11’s Renegotiation Framework, The University of Tokyo Faculty Workshop, 2019
  • A New Theory of Corporate Bankruptcy, Tsinghua Law School Faculty Workshop, 2019
  • Law Day Keynote: Artificial Intelligence, HEC Paris, 2019
  • Artificial Intelligence and the Law, National Chengchi University, 2019
  • Valuation: Legal Procedure (Not Art. Not Science.), ABI & AIRA ValCon, 2018
  • Self-Driving Contracts, Academy of Management Annual Meeting, 2018
  • Bankruptcy on the Side, 9th Emerging Market Finance Conference, Mumbai, 2018
  • The Bankruptcy Partition, University of Pennsylvania Law Review Symposium, 2017
  • The Short Happy Life of Rules and Standards, Coase Lecture, The University of Chicago, 2017
  • The Bankruptcy Partition, NYU Law and Economics Workshop, 2017
  • Bankruptcy on the Side, NYU/Penn Conference on Law and Finance, 2017
  • 200th Feature Podcast: Side Agreements in Corp. Bankruptcy, American Bankruptcy Institute Podcast, 2017
  • The Death of Rules and Standards, Law, Economics and Business Workshop at Berkeley Law, 2016
  • The Article III Problem in Bankruptcy, Yale/Stanford/Harvard Junior Faculty Forum, 2015
  • A Framework for Bailout Regulation, American Law and Economics Association Annual Meeting, 2015
  • The New Corporate Web, Law and Economics Workshop at Columbia Law School, 2014
  • The Fannie and Freddie Bailouts through the Corporate Lens, The Future of Fannie and Freddie Conference (NYU Journal of Law and Business), 2013
  • Auction Design for Claims Trading, ABI Symposium on Hedge Funds, 2013
  • No Exit? Withdrawal Rights and the Law of Corporate Reorganizations, American Law and Economics Association Annual Meeting, 2012
  • The Creditors’ Bargain and Option-Preservation Priority in Chapter 11, American Law and Economics Association Annual Meeting, 2011

Additional Activities

Memberships and Professional Affiliations

  • Insolvency Law Academy: Task Force on Insolvency Law in Emerging Markets, 2024-present; Insolvency Scholars Forum Member, 2023-present
  • INSOL International: Academic Steering Committee, 2024-present; Student Newsletter Editorial Committee, 2023-present; INSOLTech Committee, 2023-Present
  • Advisory Council Member, New Era ADR, 2021-present
  • International Advisory Council Member, Singapore Global Restructuring Initiative, 2020-present
  • Editorial Advisory Board Member, American Bankruptcy Law Journal, 2022-2023
  • National Business Law Scholars Conference: Member, Board of Directors, 2016-present; Conference Organizer, 2016
  • Board Member, Naperville Community Unit School District 203 Board of Education, 2020-2023
  • Executive Committee for the Association of American Law Schools Section on Creditors’ and Debtors’ Rights: Chair, 2016; Secretary/Treasurer, 2014; Member, 2013, 2015, 2017
  • Bar admissions, Illinois (2003) and New York (2005)

Service

  • American Bankruptcy Institute, 40under40 Steering Committee, Member, 2021, 2022
  • National Conference of Bankruptcy Judges, 2023 Conference Education Committee, 2021-present
  • Bankruptcy Scholars Working Group on the COVID-19 Crisis, Co-Founder, 2020-21

Institutional Service

  • University Senate, Council of the University of the Senate, 2023-present; Committee of the Council, 2023-present
  • The University of Chicago Business Law Review, Faculty Advisor 2021-present
  • Provostial Education Planning Group, Law School Representative, 2020-2023
  • Diversity Committee Member 2020-2023
  • Annual General Counsel Roundtable, Organizer, 2018-present
  • Becker Friedman Institute for Economics, Research Council Member, 2017-present
  • Committee on JD-MBA Joint Degrees, Member, 2019
  • Law School Appointments Committee, Co-Chair, 2016-2018
  • Colloquium for Summer Institute in Law and Economics, Co-Organizer, 2015
  • Law School Bigelow Fellowship Program, Co-Director, 2012-2014
  • Advisory Council on Business Curriculum, Member, 2011-2012

Awards and Honors

  • American College of Bankruptcy, Fellow, 2024-present
  • European Corporate Governance Institute, Research Member, 2021-present
  • American Bar Foundation, Fellow, 2020-present
  • American Bankruptcy Institute, 40under40 Leaders in Insolvency Practice, 2017
  • Corporate Practice Commentator, Top 10 Corporate and Securities Articles, 2015

Events

  • BYU/Chicago Winter Bankruptcy Conference, 2024
  • Annual General Counsel Roundtable, 2018-present
  • Legal Matters in Web3, Conference, 2024
  • Litigation Finance Conference, 2023
  • Artificial Intelligence in the Military, 2023
  • Financial Restructuring Roundtable, 2023
  • Perspectives on Delaware Corporate Law, 2023
  • UChicago/UVA Series on Diversity, Race and Business Law, 2020-2022
  • Strengthening Insolvency Systems in Asia and the Pacific (with ADB in Manilla), 2022
  • Chicago Conference on Judicial Valuation, 2022
  • Chicago Summit on Corporate Speech, Social Movements, and Elections, 2022
  • The Economic Structure of Corporate Law at Thirty, 2022
  • Conference on Private and Public Executive Power, Co-Organizer, 2018
  • Colloquium for Summer Institute in Law and Economics, Co-Organizer, 2015
  • Conference on Creditors & Corporate Governance, Co-Organizer, 2012, 2014
  • Testified to the ABI Commission to Study the Reform of Chapter 11, 2013

Editorial Work

  • Referee: American Law and Economics Review; Computer Law & Security Review; European Review of Contract Law; The Journal of Empirical Legal Studies; The Journal of Legal Analysis; The Journal of Law and Economics; The Journal of Law, Economics, and Organizations; The Journal of Legal Studies; California Law Review; Columbia Law Review; McGill Law Journal; Stanford Law Review; The University of Chicago Law Review; Yale Law Journal; UCLA Law Review