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...

La quatrième de couverture indique : "L'ouverture d'une procédure collective est l'occasion d'un conflit entre protection de l'emploi et survie de l'entreprise. Assurer la pérennité de cette dernière ne peut souvent être réalisé qu'au prix d'une réduction de l'effectif. Ce constat...

The reaction of stock prices to bankruptcy filing has been frequently analysed in the financial literature. In this paper we adopt a different approach to that of traditional study, and endeavour to determine whether the reaction of markets is conditioned by the orientation of bankruptcy law....

We estimate the impact of the COVID-19 crisis on business failures among small and medium-size enterprises (SMEs) in seventeen countries using a large representative firm-level database. We use a simple model of firm cost minimization and measure each firm’s liquidity shortfall during and...

This book investigates the taxation of companies under economic and financial distress. A company in economic distress has no or low profitability and a low going-concern value. On the other hand, a company in financial distress is a viable entity with current, but not necessarily long-term,...

The recent debt reduction operation carried out by Technicolor using the proceeds of two capital increases (one reserved for an institutional investor, the other maintaining shareholders' preferential subscription rights), just two years after the end of the bankruptcy proceedings, raises...