Economic theory conjectures complementarities between the ranking of creditors in formal insolvency proceedings and the use of collateral in bank loan contracts as well as the exist-ence of relational compared to arm's length lending. In this paper we seek evidence for the-se hypotheses taking...

Following the economic shocks of 2007/08 a spotlight has been thrown on how best to support effective business rescue and employment protection. However, business rescue and employment protection often tend to conflict in law and policy. Employees attached to the sale of a business often...

This paper aims to cast Chapter 11 as concerned primarily with the agency problems and conflicts that inhere in the bankruptcy context. Chief among these problems is management's increased appetite for risk and the urge for management to wait out financial difficulties to the detriment of the...