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The survey of real outcomes of insolvency proceedings in the Czech Republic analysed by this study took place during … of certain crucial data as to the actual outcome of insolvency proceedings in the Czech Republic, i.e. especially as to … basic information on the structure of the insolvency act in the Czech Republic and possible changes in legislation that …
Persistent link: https://www.econbiz.de/10011195423
In the United States, few failing businesses invoke the Bankruptcy Code to reorganize or liquidate. Most use non-bankruptcy procedures to accomplish the same purposes. These procedures include voluntary agreements between the debtor and its creditors (workouts) and formal devices such as...
Persistent link: https://www.econbiz.de/10012726031
Bankruptcy is a statutory system, yet it is replete with practices for which there is no direct authorization in the Bankruptcy Code. This article argues that the authorization for judicial creation of bankruptcy law beyond the provisions of the Code has been misidentified as the equity powers...
Persistent link: https://www.econbiz.de/10012731895
Bankruptcy is a statutory system, yet it is replete with practices for which there is no direct authorization in the Bankruptcy Code. This article argues that the authorization for judicial creation of bankruptcy law beyond the provisions of the Code has been misidentified as the equity powers...
Persistent link: https://www.econbiz.de/10012731969
Courts have repeatedly stated that equitable subordination is a compensatory remedy. This view is demonstrably mistaken; if equitable subordination is compensatory, only injured creditors, and not trustees or debtors in possession, would have Constitutional standing to bring equitable...
Persistent link: https://www.econbiz.de/10012733701
The reforms of 2005 yield important but subtle changes in the Bankruptcy Code's treatment of financial contracts. They might appear only to eliminate longstanding uncertainty surrounding the protections available to financial contract counterparties, especially counterparties to repurchase...
Persistent link: https://www.econbiz.de/10012734623
The Securities and Exchange Commission has recently attempted to establish a new form of insider trading: the use of nonpublic information about mutual fund portfolio holdings to engage in fund arbitrage. In a series of settled cases, the SEC has alleged that fund managers violated rules...
Persistent link: https://www.econbiz.de/10012736407
In economic theory, the residual owner is the perfect person to control the bankrupt firm. The residual owner risks its own money and has incentives identical to those of the firm. But in more than fifteen years of trying, scholars have not been able to specify a mechanism that would identify...
Persistent link: https://www.econbiz.de/10012739008
This paper studies the institution of bankruptcy when exclusive contracts cannot be enforced ex ante, e.g., a bank cannot monitor whether the borrower enters into contracts with other creditors. The institution of bankruptcy enables the bank to enforce its claim to any funds that the borrower...
Persistent link: https://www.econbiz.de/10012739196
Ooghe and De Prijcker (2006) presented four main types of failure processes. The first describes the deterioration of unsuccessful newly established companies leaded by a management with a significant lack of managerial and industry related experience. The second is the failure process of...
Persistent link: https://www.econbiz.de/10012775810