NASHVILLE, Tenn. ñ A new chair at Vanderbilt University Law School, the second at the school to honor alumnus Milton Underwood, has been awarded to one of the nation’s leading bankruptcy scholars. The Milton Underwood Chair in Law will be awarded formally to Robert Rasmussen in a ceremony on Feb. 23, 2005. Rasmussen, former associate dean for academic affairs, also holds the FedEx Research Professorship and directs the law and economics program.
The chair honors Underwood, a 1928 graduate of the law school. Underwood’s is a uniquely American success story. He was orphaned when he was very young and secured for himself a scholarship at an Alabama preparatory school. He put himself through law school at Vanderbilt with a series of jobs ranging from stoking the furnace in exchange for a free room near campus to delivering dry cleaning, working in the law library and typing in the alumni office.
After graduating with distinction, Underwood settled in Houston and became one of that city’s preeminent businessmen. After starting out in banking and life insurance, in 1935 he founded an investment banking firm which became Underwood, Neuhaus and Company, where he was chairman until his death in 1982. He was active in many educational and cultural organizations, becoming founder, director or trustee of more than 30 corporations and charitable and educational institutions, many in the growing city of Houston. He was named to the Vanderbilt Board of Trust in 1954 and was elected a Life Trustee in 1973.
An earlier chair in Underwood’s honor, the Milton R. Underwood Chair in Free Enterprise, was established in 1985 with an endowment from the Fondren Foundation and the Underwood family. Former Dean John J. Costonis was the first holder of that chair. James W. Ely, professor of law and of history, has held it since 1999.
"I am deeply honored to receive this chair," Rasmussen said. "The Vanderbilt Law School is home to many scholars of the first rank, some who hold chairs and some who do not. To the extent that chairs acknowledge scholarly achievement, much of my work owes a debt to these colleagues. It is especially gratifying that the chair I will hold carries a name similar to the one held by my colleague, Jim Ely. During my time at Vanderbilt, Jim has been part of the intellectual culture that makes the law school distinctive among its peers. Finally, I am most grateful to the Underwood family. Their generosity to the law school over the years has been one of the ingredients that has allowed the school to continue its passion for excellence," Rasmussen added.
Rasmussen joined the Vanderbilt faculty in 1989 from the U.S. Department of Justice. A leading scholar in the field of bankruptcy, his work examines the interaction of market forces and corporate reorganization law. His recent work examines fundamental changes in corporate reorganization practice. Rasmussen is former chair of the law school’s Faculty Senate.
He teaches courses in bankruptcy, law and economics, secured transactions, contracts, the life cycle of the corporation and corporate restructuring. He has been awarded the Hartman Award for outstanding teaching four times.
"Bob Rasmussen has excelled at Vanderbilt as a scholar, teacher and academic leader," said Kent Syverud, dean and Garner Anthony Professor of Law. "He exemplifies the qualities and leadership that the Underwood Chair was endowed to celebrate."
For more information about Vanderbilt, visit the News Service homepage at www.vanderbilt.edu/News. More information on the law school can be found at http://law.vanderbilt.edu/.
Media contact: Susanne Hicks, (615) 322-NEWS
Susanne.hicks@vanderbilt.edu