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Contracting Externalities and Mandatory Menus in the U.S. Corporate Bankruptcy Code

Bernardo, Antonio E. - 2015

Our paper offers the first justification for the U.S. bankruptcy code, in which firms are not allowed to commit themselves ex-ante in their lending agreements either to (Chapter 7) liquidation or to (Chapter 11) reorganization in case of distress ex-post. If fire-sale liquidation imposes...

Persistent link: https://www.econbiz.de/10013034519

The Rise in Elder Bankruptcy Filings and Failure of U.S. Bankruptcy Law

Pottow, John A. E. - 2011

Recent empirical legal scholarship on the consumer bankruptcy system has uncovered a marked rise in the proportion of elder Americans filing for relief under the Bankruptcy Code. But these studies have not probed the reasons behind that rise, an omission this Article seeks to address. Professor...

Persistent link: https://www.econbiz.de/10013133005

An Empirical Study of the Implementation in the United States of the Model Law on Cross Border Insolvency

Westbrook, Jay Lawrence - 2018

International insolvency proceedings uniquely require coordination among a number of national courts to preserve the … value of multinational corporations that have become financially distressed. The Model Law on Cross-Border Insolvency … provides a structure for recognition of foreign insolvency proceedings and the granting of needed relief in aid of foreign …

Persistent link: https://www.econbiz.de/10012938663