We explore in the French personal bankruptcy process the ways that judges perform with the possibility to discharge all the personal debts in exchange of liquidation of their assets. In particular, we give some empirical results on the determinants of judges' selection between debtors whose...

The principal aim of this study is to analyze the conduct of renegotiations between the shareholders of a company facing financial difficulty (which is operationally viable but insolvent as a result) and its bank creditors. The objective is also to assess the effects of French bankruptcy...

In this paper, we test the characteristics of bankruptcy procedures that are likely to generate recoveries for the creditors. Such recoveries are related to the performance of bankruptcy law as they stem from the procedures' ability to preserve the value of bankrupt firms, as basis of creditors'...

We test the characteristics of bankruptcy procedures that are likely to generate recoveries for the creditors. We build 132 original legal indexes accounting for the main functions of bankruptcy law that were highlighted by Hart (2000). Namely, we measure the accessibility of the procedure,...