How to Sell a (Bankrupt) Company

The restructuring of a bankrupt company often entails the sale of such company. This paper suggests a way to sell the company that maximizes the creditors' proceeds. The key to this proposal is the option left to the creditors to retain a fraction of the shares of the company. Indeed, by retaining the minority stake, creditors reduce to a minimum the rents that the sale of the company leaves in the hands of the buyer.

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Year of publication:	2000
Authors:	Cornelli, Francesca ; Felli, Leonardo
Institutions:	CESifo
Subject:	Bankruptcy \| control stakes \| auction

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Extent:	application/pdf
Series:	CESifo Working Paper Series.
Type of publication:	Book / Working Paper
Language:	English
Notes:	Number 292
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005405745