Record numbers seek debt relief through bankruptcy …

consequences of this for the efficiency of Russian bankruptcy law. Using a theoretical model and a systematic analysis of available … bankruptcy institution as a mechanism for effective expropriation of the federal government and the outside investors. And second …, the bankruptcy law does not create pressure on managers to restructure; instead, it may even prevent restructuring. …

We analyse bidding incentives of the main creditors (banks) in Swedish bankruptcy auctions. Lacking a direct mechanism …

simple general equilibrium model to study the externality effect of creditor passivity. The model yields rich insights into … the phenomenon of creditor passivity, both in transition and developed market economies. Policy implications are deduced …

A solid and sound bankruptcy system is a crucial pillar that is needed to sustain the stability of any competitive … of creditor banks, a firm in financial distress will usually prefer to negotiate an informal arrangement of deferred … payments rather than to go directly into a formal bankruptcy process. This paper considers small firms and sets up two systems …

-served rule in the case of investor bankruptcy. Creditor behavior is assumed to be a monitoring contest. Since the monitoring …In this article a simple model of creditor behavior is developed to analyze the implications of a first-come, first … contest is very costly, interest rates are high. The model provides interesting implications for the design of bankruptcy …

We use data from the US airline industry to investigate whether firms that are under bankruptcy protection, as well as … delays and cancelations are less frequent during bankruptcy filings but return to their pre-bankruptcy levels once the … bankrupt firm emerges from bankruptcy. We also find that firms use Chapter 11 filings to permanently reduce the age of their …

We investigate the effects of Chapter 11 bankruptcy filings on product market competition using data from the US …-specific prices while under bankruptcy protection, and increase them after emerging. We do not find robust evidence of significant … hypothesis that bankruptcy is the result of a war of attrition over capacity and network cutbacks. …