Frederick Tung

Professor of Law

Associate Dean for Academic Affairs
Howard Zhang Faculty Research Scholar

AB, cum laude, Cornell University
JD, cum laude, Harvard Law School

Areas of Interest
Bankruptcy, Corporate, Business & Transactional Law, Economics & Law, Securities
Contact
Biography

Fred Tung researches, teaches, and consults in the areas of bankruptcy, corporate and securities law, and the governance of financial institutions. He is a member of the American Law Institute. Prior to joining the BU faculty, he was the Robert T. Thompson Professor of Law and Business at Emory University School of Law. He has also been a visiting professor at Harvard Law School, a Roger T. Traynor Professor in Corporate Law at Hastings College of the Law, and a fellow at the Searle-Kauffman Institute on Law, Innovation and Growth. He testified in Congress before the Congressional Oversight Panel for the Troubled Asset Relief Program (TARP), and served as a consultant on law reform for the Ministry of Justice in Ethiopia, the Center for Commercial Law and Economics in Indonesia, and the California Law Revision Commission. He has been a lecturer in the law department at Peking University, and has served on the Consumer Law Task Force of the Atlanta Legal Aid Society.  Before entering law teaching, Professor Tung clerked for the Honorable Stanley A. Weigel in the Northern District of California, and practiced corporate and bankruptcy law with Gibson, Dunn & Crutcher in Los Angeles and San Francisco. Proficient in Mandarin, he was an interpreter for ABC News covering the Democracy Movement in Beijing. He has also worked as a software engineer in Silicon Valley.

Professor Tung has been a permanent blogger with the popular corporate law blog Conglomerate.  He graduated with honors from Harvard Law School. He received his undergraduate degree with honors from Cornell University, where he was Phi Beta Kappa and Phi Kappa Phi.

Publications
  1. Frederick Tung & Mark J. Roe, Bankruptcy and Corporate Reorganization: Legal and Financial Materials, 4th edition, Foundation Press (2016).
    Publisher
  2. Frederick Tung & Mark J. Roe, Bankruptcy and Corporate Reorganization: Legal and Financial Materials, Teacher's Manual 4th edition, Foundation Press (2016).
    Publisher
  3. Frederick Tung & Krishnamurthy Subramanian, "Law and Project Finance," 25 Journal of Financial Intermediation 154 (2016).
  4. Frederick Tung & Mark J. Roe, "Breaking Bankruptcy Priority: How Rent-Seeking Upends the Creditors’ Bargain," 99 Virginia Law Review 1235 (2013).
    SSRN | HeinOnline (BU) | HeinOnline
  5. Frederick Tung & M. Todd Henderson, "Reverse Regulatory Arbitrage: An Auction Approach to Regulatory Assignments," 98 Iowa Law Review 1895 (2013).
    SSRN
  6. Frederick Tung, "Pay for Regulator Performance," 85 Southern California Law Review 1003 (2012).
    SSRN | HeinOnline (BU) | HeinOnline
  7. Frederick Tung & M. Todd Henderson, "Paying Bank Examiners for Performance," 34:1 Regulation 32 (2012).
    HeinOnline (BU) | HeinOnline
  8. Frederick Tung, "Pay for Banker Performance: Structuring Executive Compensation for Risk Regulation," 105 Northwestern University Law Review 1205 (2011).
    SSRN | Publisher | Westlaw
  9. Frederick Tung, "The Puzzle of Independent Directors: New Learning," in Symposium The Role of Fiduciary Law and Trust in the Twenty-First Century: A Conference Inspired by the Work of Tamar Frankel, 91 Boston University Law Review 1175 (2011).
    SSRN
  10. Frederick Tung, "Bonding Bankers: Notes Toward a Governance Approach to Risk Regulation," in Symposium The Credit Crash of 2008: Regulation within Economic Crisis, 3 Entrepreneurial Business Law Journal 467 (2009-10).
    HeinOnline (BU) | HeinOnline
  11. Frederick Tung, "Leverage in the Board Room: The Unsung Influence of Private Lenders in Corporate Governance," 57 UCLA Law Review 115 (2009-10).
    SSRN | HeinOnline (BU) | HeinOnline
  12. Frederick Tung, "The Great Bailout of 2008-09," 25 Emory Bankruptcy Development Journal 333 (2008-09).
    HeinOnline (BU) | HeinOnline
  13. Frederick Tung, J. Shepherd & Albert H. Yoon, "What Else Matters for Corporate Governance?: The Case of Bank Monitoring," 88 Boston University Law Review 991 (2008).
    SSRN | HeinOnline (BU) | HeinOnline
  14. Frederick Tung, "Gap Filling in the Zone of Insolvency," in Symposium Twilight in the Zone of Insolvency: Fiduciary Duty and the Creditors of Troubled Companies, 1 Journal of Business and Technology Law 607 (2007). Reprinted in 3 ICFAI Journal of Banking Law 25 (2007).
    SSRN
  15. Frederick Tung, "The New Death of Contract: Creeping Corporate Fiduciary Duties for Creditors," 57 Emory Law Journal 809 (2007-08).
    SSRN | HeinOnline (BU) | HeinOnline
  16. Frederick Tung, "Before Competition: Origins of the Internal Affairs Doctrine," 32 Journal of Corporation Law 33 (2006).
    SSRN | HeinOnline (BU) | HeinOnline
  17. Frederick Tung, "Lost in Translation: From U.S. Corporate Charter Competition to Issuer Choice in International Securities Regulation," 39 Georgia Law Review 525 (2004-05).
    HeinOnline (BU) | HeinOnline
  18. Frederick Tung, "From Monopolists to Markets?: A Political Economy of Issuer Choice in International Securities Regulation," 2002 Wisconsin Law Review 1363 (2002). Reprinted in 45 Corporate Practice Commentator 327 (2003) and in 36 Securities Law Review 200 (2004).
    SSRN | HeinOnline (BU) | HeinOnline
  19. Frederick Tung, "Passports, Private Choice, and Private Interests: Regulatory Competition and Cooperation in Corporate, Securities, and Bankruptcy Law," 3 Chicago Journal of International Law 369 (2002).
    SSRN | HeinOnline (BU) | HeinOnline
  20. Frederick Tung, "After Orange County: Reforming California Municipal Bankruptcy Law," 53 Hastings Law Journal 885 (2001-02).
    SSRN | HeinOnline (BU) | HeinOnline
  21. Frederick Tung, "Fear of Commitment in International Bankruptcy," in Symposium Global Trade Issues in the New Millennium, 33 George Washington International Law Review 555 (2000-01).
    SSRN | HeinOnline (BU) | HeinOnline
  22. Frederick Tung, "Is International Bankruptcy Possible?" 23 Michigan Journal of International Law 31 (2001-02).
    SSRN | HeinOnline (BU) | HeinOnline
  23. Frederick Tung, California Municipal Bankruptcy Legislation, California Law Revision Commission, (2000).
    Publisher
  24. Frederick Tung, "The Future Claims Representative in Mass Tort Bankruptcy: A Preliminary Inquiry," in Symposium on Bankruptcy Law, 3 Chapman Law Review 43 (2000).
    HeinOnline (BU) | HeinOnline
  25. Frederick Tung, "Limited Liability and Creditors' Rights: The Limits of Risk Shifting to Creditors," 34 Georgia Law Review 547 (1999-2000).
    HeinOnline (BU) | HeinOnline
  26. Frederick Tung, Distributions in Bankruptcy, Center for Commercial Law & Economics, Bukit Jimbaran, Bali, Indonesia (July 1999).
  27. Frederick Tung, "Future Claims and Successor Liability in Bankruptcy," 73d Annual Meeting of the National Conference of Bankruptcy Judges 10 (1999).
  28. Frederick Tung, "Taking Future Claims Seriously: Future Claims and Successor Liability in Bankruptcy," 49 Case Western Reserve Law Review 435 (1998-99).
    SSRN | HeinOnline (BU) | HeinOnline
  29. Frederick Tung, "Confirmation and Claims Trading," 90 Northwestern University Law Review 1684 (1996).
Courses

4 credits

This course focuses on corporate reorganization and corporate finance. We will study the legal requirements for reorganization plans under Chapter 11 of the Bankruptcy Code, as well as the use of going concern sales outside of Chapter 11. We will study important doctrinal issues relating to reorganization of corporate groups, including substantive consolidation and equitable subordination. We will investigate avoidance actions in bankruptcy, including preferences and fraudulent conveyance, and the treatment of pre-bankruptcy contracts. Other topics include the financing of corporate debtors in bankruptcy and workouts and duties to creditors outside of bankruptcy. Finally, we will also introduce and ultimately master some basic tools of corporate finance--present value, expected value, and risk and diversification. GRADING NOTICE: This class will not offer the CR/NC/H option. PREREQUISITE: Business Fundamentals. PREREQUISITE/COREQUISITE: Corporations.

SPRG 2017: LAW JD 803 A1 , Jan 18th to Apr 26th 2017
Days Start End Credits Instructors Bldg
Mon,Wed 2:10 pm 4:10 pm 4 Frederick Tung LAW
SPRG 2018: LAW JD 803 A1 , Jan 17th to Apr 25th 2018
Days Start End Credits Instructors Bldg
Mon,Wed 8:30 am 10:30 am 4 Frederick Tung

4 credits

Marks, Tung and Walker: Course about the legal structure and characteristics of business corporations. Topics include the promotion and formation of corporations; the distribution of power between management and shareholders; the limitations on management powers imposed by state law fiduciary duties and federal securities laws; shareholder derivative suits; capital structure and financing of corporations; and fundamental changes in corporate structure, such as mergers and sales of assets. The course serves as a prerequisite to advanced courses. PREREQUISITE: Business Fundamentals. GRADING NOTICE: The CR/NC/H option is only offered in Professor Marks's section. Ellias: This course is an introduction to the basic legal rules and principles governing corporations. We examine three basic problems: (1) conflicts between a firm's managers and its owners (the shareholders); (2) conflicts between shareholders; and (3) conflicts between shareholders and creditors. We examine the costs associated with these conflicts and how markets, legal rules, and contracts might reduce them. This is a foundational law school course that provides the fundamental knowledge of business and finance needed for upper level classes. No prior knowledge of business or finance is expected. GRADING NOTICE: This class does not offer the CR/NC/H option.

FALL 2016: LAW JD 816 A1 , Sep 6th to Dec 8th 2016
Days Start End Credits Instructors Bldg
Tue,Thu 2:10 pm 4:10 pm 4 Stephen G. Marks LAW
FALL 2016: LAW JD 816 W1 , Sep 7th to Dec 7th 2016
Days Start End Credits Instructors Bldg
Mon,Wed 8:30 am 10:30 am 4 David I. Walker LAW
SPRG 2017: LAW JD 816 M1 , Jan 18th to Apr 26th 2017
Days Start End Credits Instructors Bldg
Mon,Wed 10:40 am 12:40 pm 4 Stephen G. Marks LAW
FALL 2017: LAW JD 816 A1 , Sep 6th to Dec 6th 2017
Days Start End Credits Instructors Bldg
Mon,Wed 2:10 pm 4:10 pm 4 Frederick Tung
FALL 2017: LAW JD 816 M1 , Sep 5th to Dec 7th 2017
Days Start End Credits Instructors Bldg
Tue,Thu 2:10 pm 4:10 pm 4 Stephen G. Marks
SPRG 2018: LAW JD 816 W1 , Jan 17th to Apr 25th 2018
Days Start End Credits Instructors Bldg
Mon,Wed 10:40 am 12:40 pm 4 David I. Walker

1 credits

FALL 2016: LAW JD 755 A1 , Sep 6th to Dec 8th 2016
Days Start End Credits Instructors Bldg
ARR TBD TBD 1 Staff
SPRG 2017: LAW JD 755 A1 , Jan 17th to Apr 26th 2017
Days Start End Credits Instructors Bldg
ARR TBD TBD 1 Frederick Tung
FALL 2017: LAW JD 755 A1 , Sep 5th to Dec 7th 2017
Days Start End Credits Instructors Bldg
ARR TBD TBD 1 Staff
SPRG 2018: LAW JD 755 A1 , Jan 16th to Apr 25th 2018
Days Start End Credits Instructors Bldg
ARR TBD TBD 1 Frederick Tung

1 credits

FALL 2016: LAW JD 754 A1 , Sep 6th to Dec 8th 2016
Days Start End Credits Instructors Bldg
ARR TBD TBD 1 Staff
SPRG 2017: LAW JD 754 A1 , Jan 17th to Apr 26th 2017
Days Start End Credits Instructors Bldg
ARR TBD TBD 1 Frederick Tung
FALL 2017: LAW JD 754 A1 , Sep 5th to Dec 7th 2017
Days Start End Credits Instructors Bldg
ARR TBD TBD 1 Staff
SPRG 2018: LAW JD 754 A1 , Jan 16th to Apr 25th 2018
Days Start End Credits Instructors Bldg
ARR TBD TBD 1 Frederick Tung
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