‘Safe harbour’ is shorthand for a bundle of privileges in insolvency which are typically afforded to financial … protection against the fallout of the counterparty’s insolvency contributes to systemic stability, as the feared ‘domino effect …

Economic theory conjectures complementarities between the ranking of creditors in formal insolvency proceedings and the … use of collateral in bank loan contracts as well as the existence of relational compared to arm’s length lending. In this … neither confirm that a high priority for se-cured lenders explains an excessive use of collateral in bank loans nor that a …

This paper examines the determinants of the rate of forced insolvency in New Zealand. The study incorporates two key … variety of economic experiences over the sample period (1988–2003). Second, we explain the total rate of forced insolvency in … economic activity and regional property values (the latter representing collateral effects) reduce regional insolvencies. An …

This paper examines the determinants of the rate of forced insolvency in New Zealand. The study incorporates two key … variety of economic experiences over the sample period (1988-2003). Second, we explain the total rate of forced insolvency in … economic activity and regional property values (the latter representing collateral effects) reduce regional insolvencies. An …

illiquid but solvent borrowers only) against the security of sound collateral and at above-market, penalty interest rates. Deny … tarnished collateral and/or purchasing assets of questionable value, in bailing out insolvent borrowers, in extending its …

The paper analyses options in case of insolvency. Although insolvency plans empirically are very successful, they are …