have turned their attention to the topic of bankruptcy. A large amount of work has resulted, both theoretical and empirical …, some of which has been concerned with the functioning of existing bankruptcy procedures and some with bankruptcy reform …, e.g., the goals of bankruptcy and some of the characteristics of an efficient bankruptcy procedure. This paper …

We develop a new bankruptcy procedure that makes use of multiple auctions. The procedure" is designed to work even when …

We propose a new bankruptcy procedure. Initially, a firm's debts are cancelled, and cash and non-cash bids are …