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Using Options to Divide Value in Corporate Bankruptcy
Bebchuk, Lucian Arye - 2000
This paper revisits the proposal to use options in corporate bankruptcy that was put forward in Bebchuk (1988 …). According to the proposed procedure, corporate bankruptcy should be implemented through the distribution to participants of … appropriately designed options. The paper starts by discussing the goals that should guide the design of bankruptcy procedures. The …
Persistent link: https://www.econbiz.de/10012471156
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An Economic Analysis of Transnational Bankruptcies
Bebchuk, Lucian Arye - 2000
territoriality' -- in which assets are adjudicated by the jurisdiction in which they are located at the time of the bankruptcy …
Persistent link: https://www.econbiz.de/10012471197
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Optimal Defaults for Corporate Law Evolution
Bebchuk, Lucian Arye - 2002
Public corporations live in a dynamic and ever-changing business environment. This paper examines how courts and legislators should choose default arrangements in the corporate area to address new circumstances. We show that the interests of the shareholders of existing companies would not be...
Persistent link: https://www.econbiz.de/10012470012
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Ex Ante Costs of Violating Absolute Priority in Bankruptcy
Bebchuk, Lucian Arye - 2001
A basic question for the design of bankruptcy law concerns whether value should be divided in accordance with absolute …
Persistent link: https://www.econbiz.de/10012470332
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A New Approach to Valuing Secured Claims in Bankruptcy
Bebchuk, Lucian Arye - 2001
would determine the value of collateral in such a way that no participant in the bankruptcy would have a basis for … of business bankruptcy and could constitute an important element of any proposal for bankruptcy reform …
Persistent link: https://www.econbiz.de/10012470448
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Chapter 11
Bebchuk, Lucian Arye - 1998
This essay surveys the literature on Chapter 11. I start by discussing the objectives by which the performance of corporate reorganization rules is to be judged and then consider the fundamental problem of valuation that arises in corporate reorganization. I next turn to examine the performance...
Persistent link: https://www.econbiz.de/10012472332
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The Uneasy Case for the Priority of Secured Claims in Bankruptcy : Further Thoughts and a Reply to Critics
Bebchuk, Lucian Arye - 1998
In an earlier article, The Uneasy Case for the Priority of Secured Claims in Bankruptcy,' 105 Yale Law Journal 857 … (1996), we suggested that the case for a full priority of secured claims in bankruptcy is an uneasy one. In this paper, we … confirms our earlier conclusion that the case for a full priority of secured claims in bankruptcy is an uneasy one …
Persistent link: https://www.econbiz.de/10012472333