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An Empirical Study of the Implementation in the United States of the Model Law on Cross Border Insolvency
Westbrook, Jay Lawrence - 2018
International insolvency proceedings uniquely require coordination among a number of national courts to preserve the … value of multinational corporations that have become financially distressed. The Model Law on Cross-Border Insolvency … provides a structure for recognition of foreign insolvency proceedings and the granting of needed relief in aid of foreign …
Persistent link: https://www.econbiz.de/10012938663
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Ordre Public and Cross-Border Insolvency : Especially in Relation to Council Regulation (EC) No. 1346/2000 on Insolvency Proceedings
Belohlavek, Alexander J. - 2015
Persistent link: https://www.econbiz.de/10013023742
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Beyond Uncitral : Alternatives to Universality in Transnational Insolvency
Kipnis, Alexander M. - 2006
establishment of an international body for administering transnational insolvency proceedings. It further addresses the UNCITRAL …
Persistent link: https://www.econbiz.de/10014057179
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Corporate financial soundness and its impact on firm performance: Implications for corporate debt restructuring in Slovenia
Damijan, Jože P. - European Bank for Reconstruction and Development (EBRD) - 2014
The paper studies the extent of corporate leverage and range of excessive debt of Slovenian firms during the recent financial crisis. Half of all firms (of those with some non-zero debt and at least one employee) are found to face an unsustainable debt-to-EBITDA leverage ratio beyond 4,...
Persistent link: https://www.econbiz.de/10010797498
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Financing Failure : Bankruptcy Lending, Credit Market Conditions, and the Financial Crisis
Tung, Frederick - 2020
When contemplating Chapter 11, firms often need to seek financing for their continuing operations in bankruptcy. Because such financing would otherwise be hard to find, the Bankruptcy Code authorizes debtors to offer sweeteners to debtor-in-possession (DIP) lenders. These inducements can be...
Persistent link: https://www.econbiz.de/10012828010
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Financing Failure : Bankruptcy Lending, Credit Market Conditions, and the Financial Crisis
Tung, Frederick - 2020
When contemplating Chapter 11, firms often need to seek financing for their continuing operations in bankruptcy. Because such financing would otherwise be hard to find, the Bankruptcy Code authorizes debtors to offer sweeteners to debtor-in-possession (DIP) lenders. These inducements can be...
Persistent link: https://www.econbiz.de/10012846895
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Municipal Bankruptcies and Crime
Jha, Chandan Kumar; Joshi, Swarup - 2023
While the importance of municipal bonds for the provision of public services is well-documented, the consequences of municipal bankruptcies remain understudied. We contribute to this literature by studying the effects of municipal bankruptcies on crime. Using the staggered...
Persistent link: https://www.econbiz.de/10014349803
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A dialogue on the costs and benefits of automatic stays for derivatives and repurchase agreements
Duffie, Darrell; Skeel, David - 2012 - Last rev.: March 04, 2012
For nearly two years, the two of us have had a running discussion of the costs and benefits of automatic stays in bankruptcy for qualified financial contracts (QFCs) such as derivatives and repurchase agreements, particularly those held by systemically important major dealer banks. Under current...
Persistent link: https://www.econbiz.de/10009504439
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How costly is corporate bankruptcy for top executives?
Eckbo, B. Espen; Thorburn, Karin S.; Wang, Wei - 2012
We examine chief executive officer (CEO) career and compensation changes for large firms filing for Chapter 11. One-third of the incumbent CEOs maintain executive employment, and these CEOs experience a median compensation change of zero. However, incumbent CEOs leaving the executive labor...
Persistent link: https://www.econbiz.de/10009625392
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Second liens and the holdup problem in mortgage renegotiation
Agarwal, Sumit; Amromin, Gene; Ben-David, Itzhak; … - 2014
When borrowers are delinquent, senior debtholders prefer liquidation whereas junior debtholders prefer to maintain their option value by delaying resolution or modifying the loan. In the mortgage market, a conflict of interest (“holdup”) arises when servicers of securitized senior liens are...
Persistent link: https://www.econbiz.de/10010353293