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In a liability problem, the asset value of an insolvent firm must be distributed among the creditors and the firm itself, when the firm has some freedom in negotiating with the creditors. We model the negotiations using cooperative game theory and analyze the Shapley value to resolve such...
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threatened by insolvency and during this procedure, the business of the company is still managed by the existing management board … insolvency practitioner. The extraordinary administration procedure in companies of systemic importance for the Republic of …
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