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The management of international insolvency proceedings and debt-restructuring operations constitutes a field in which … industry lies on the uniform regime that EU Law (specially the Regulation on Insolvency Proceedings) provides for this matter …
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When the debt of firms in distress is dispersed, a restructuring agreement is difficult to reach because of free riding. We develop a repeated game in which banks come across each other frequently, allowing them to threaten a punishment in case of free riding. As the number of lending banks...
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