The financial crisis and the sovereign debt crisis that followed it have been attributed to a number of causes. Whether these are economic, social, cultural or legal, they are all by and large also political. The aim of this paper is not to delve into the myriad of heated political arguments...

This is a chapter from a forthcoming book on the treatment of former entrepreneurs in the Dutch personal insolvency law (the Wsnp). To contribute a comparative perspective, this chapter contrasts the Dutch law and practice with developments in the United States, England and Wales, Germany,...

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...

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...