In this paper, we conduct an empirical analysis of the impact of better judicial enforcement on the probability of being credit rationed, loan size, and the probability of bankruptcy using household-level data from the Japanese Panel Survey of Consumers, conducted by the Institute for Research...

Mit der Einführung des ESUG wurde das Insolvenzrecht Deutschlands im Jahr 2012 reformiert. Das ESUG eröffnet neue Sanierungswege, z. B. das eigenverwaltete Schutzschirmverfahren vor der Insolvenz und die Eigenverwaltung während des Eröffnungsverfahrens. Insgesamt beantragen weiterhin nur...

In a model of pretrial bargaining under asymmetric information, we analyze the defendant’s threat to proceed to trial in the face of a rejected offer. The incidence of trial is lower when the defendant’s constraint is binding compared with the unconstrained case. The signs of some of the...

This article presents the findings of an empirical study of professional fee and expense awards by United States Bankruptcy Courts in 48 large public company bankruptcy cases concluded from 1998 through the first half of 2002. Data was gathered from fee applications and orders in the courts...

Following a bankruptcy, how should we distribute the available assets among the eligible creditors? Most people would accept a proportional distribution — for each claimant, calculate her percentage of the sum of all claims and assign her that same percentage of total assets. However, this is...

Bankuptcy-remote transactions are sophisticated, but no longer a rarity, and should stop being considered as an oddity, or ‘marginal' case. Rather, they challenge some of bankruptcy law's most basic assumptions, on a practical, rather than theoretical, level.This article explores how...

Routine default threatens the foundations of the United States court system. We study the problem of routine default by human defendants, using the Boston Municipal Court's debt collection docket as our laboratory. Arbitraging various non-law literatures, we designed interventions consisting of...

Alarmed at the ease with which global bankruptcy jurisdiction can be engineered in the United States through a combination of the Bankruptcy Code's low bar to entry and the worldwide effects of a bankruptcy case, critics argue that the US promotes abusive bankruptcy forum shopping and harmful...

Insolvency proceedings and issues relating to personal and business insolvencies are the daily subject of scholarly work and insolvency practice. But what is an insolvency proceeding? And why is this an important question? This article deals with a specific regulatory problem that is raised by...

When someone becomes involuntarily unemployed, they typically lose not only income and wealth but also psychological well-being as a result of the experience of being unemployed. This paper proposes that when a plaintiff proves that a defendant's illegal action caused the plaintiff to be...