摘要：As a teacher, researcher and practitioner of both insolvency and property law over the
last twenty years, I have found that insolvency law is an ideal vehicle for exploration
of fundamental questions surrounding the nature of property, including, of course,
security interests. In the case of bankruptcy of individual insolvents, and
liquidation of corporate entities, these state-endorsed procedures involve the need to
demarcate property or assets of the debtor which will be made available for
distribution to creditors. Both procedures, through different conceptual routes,
involve a change in the status of the debtor with respect to the demarcated assets, and
both involve a third party into whose custody and control such assets are placed and
who, while appointed for the benefit of creditors, stands in the debtor¡¯s shoes with
regard to the debtor¡¯s property or assets.
