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On Contractual Defaults and Experimental Law and Economics

Tor, Avishalom - 2009

Sloof et al.'s [2006] elegant study of default breach remedies illustrates both the potential and limitations of experimental law and economics (ELE). Potentially, the rigorous methodology of experimental economics can provide fully controlled tests of relationships among legally significant...

Persistent link: https://www.econbiz.de/10014053730

Liquidity, Default and Crashes : Endogenous Contracts in General Equilibrium

Geanakoplos, John - 2003

The possibility of default limits available liquidity. If the potential default draws nearer, a liquidity crisis may ensue, causing a crash in asset prices, even if the probability of default barely changes, and even if no defaults subsequently materialize. Introducing default and limited...

Persistent link: https://www.econbiz.de/10014125051

Default Clauses in Debt Contracts

Li, Ningzhong - 2017

use of default clauses and their restrictiveness within the same type of lending contract but also across loans and bonds …

Persistent link: https://www.econbiz.de/10012971660

Contracting for a European Insolvency Regime

Eidenmueller, Horst - 2017

The European Commission has proposed a directive on ‘preventive restructuring frameworks' for financially distressed firms. I demonstrate that the proposal is flawed because it creates a refuge for failing firms that should be liquidated, because it rules out going concern sales for viable...

Persistent link: https://www.econbiz.de/10012965920

Executory Contracts and Chapter 11 Restructuring Incentives

Ma, Yung-Yu - 2015

Chapter 11 bankruptcy provides firms with broad latitude to reject certain executory contracts, which are contracts whose terms have not been fully executed. We focus on the impact of this feature of the Bankruptcy Code by examining one of the most common executory contracts, operating leases....

Persistent link: https://www.econbiz.de/10013036323

Arbitral Contractualism in Transnational Bankruptcy

Diamantis, Mihailis - 2018

When a multinational corporation files for bankruptcy, which nation has jurisdiction over the proceedings and which nation's law applies? There is no clear international norm governing the issue, so parties and states are left to inefficient and unpredictable jockeying for authority and...

Persistent link: https://www.econbiz.de/10012937103

The Demystification of Contracts in Bankruptcy

Westbrook, Jay Lawrence - 2017

results in contract cases. The doctrine requires that contract have a quality of “executoriness,' or it must leave the … American Bankruptcy Institute Review Commission ignored the unanimous recommendation of its committee of contract experts …

Persistent link: https://www.econbiz.de/10012970122

How Does Bankruptcy Punishment Impact on Renegotiable Debt Contracts?

Blazy, Régis - 2012

This research investigates how legal sanctions prevailing under bankruptcy impact on debt contracting and on investing decision, when companies may engage faulty management. Unlike most papers considering a passive behavior of the bank in case of default of the borrower, the creditor and the...

Persistent link: https://www.econbiz.de/10013112819

Contractarianism, Contractualism, and the Law of Corporate Insolvency

Mokal, Riz - 2008

A version of this paper appears in [2007] Singapore Journal of Legal Studies (July). What is the appropriate way of theorising about corporate bankruptcy law? That lies, argues this paper, in rejecting Pareto and Kaldor-Hicks efficiency in favour of a particular conception of transaction cost...

Persistent link: https://www.econbiz.de/10014054443

Can Contract Clauses Replace Bankruptcy Principles?

Ramos Muñoz, David - 2022

. Less noticeably, market players have been experimenting for years with contract clauses in debt transactions that fulfill a … such solutions. However, parties in these transactions tend to insulate the effects of contract solutions, ruling out an …', which is hard to pin down. When parties try to achieve complex managerial and distributive solutions through contract …

Persistent link: https://www.econbiz.de/10014034280