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Charles Warren’s Bankruptcy in United States History (Harvard University Press, Cambridge, 1935) makes very valuable reading, particularly as the author divides his treatment between ‘The Period of the Creditor’ and ‘The Period of the Debtor.’ This Debtor Friendly or Creditor Friendly approach can be very useful when mulling on the advantages and disadvantages of particular procedures or approaches, i.e. fixed charge security or short periods before automatic discharge in bankruptcy.
The book is also worth quoting from, particularly its first line. It notes, “Bankruptcy is a gloomy and depressing subject. The law of bankruptcy is a dry and discouraging topic.” Fortunately this rather depressing start did not put the author off the task of completing his book!
"This is the ultimate statement of where the law on IVAs is to be found in our great common law...