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African American bankruptcy filers are more likely to select Chapter 13 than other debtors, who opt instead for Chapter 7, which has higher success rates and lower attorney fees. Prior scholarship blames racial discrimination by bankruptcy attorneys. We present an alternative explanation:...
Persistent link: https://www.econbiz.de/10012899824
I estimate the relationship between increased creditor rights and legal expenditures of debtor corporations by analyzing the effect of a major securitization law in India allowing secured creditors to seize collateral. While the law decreased spending on legal proceedings commonly used by firms...
Persistent link: https://www.econbiz.de/10014349158
Persistent link: https://www.econbiz.de/10000575222
This article presents the findings of an empirical study of professional fee and expense awards by United States Bankruptcy Courts in 48 large public company bankruptcy cases concluded from 1998 through the first half of 2002. Data was gathered from fee applications and orders in the courts...
Persistent link: https://www.econbiz.de/10014078419
dealing with corporate debt or corporate insolvency have also been introduced or modernised. A seeming paradox is presented by … this apparent commitment to the rule of law as is evident from the pattern of low usage of insolvency laws as well as … concerted attempts by corporate debtors and their creditors to resolve insolvency problems without resort to the formal legal …
Persistent link: https://www.econbiz.de/10013151922
In 2016, India enacted the Insolvency and Bankruptcy Code (IBC), a landmark legislation which reconceptualized the … existing insolvency and bankruptcy regime in India. The IBC sought to overhaul an inefficient bankruptcy framework by … the insolvency resolution process. One of the significant challenges faced under the new legal regime were insolvencies of …
Persistent link: https://www.econbiz.de/10014359273
On the eve of the financial crisis, a series of Delaware court decisions added up to a radical change in law: Creditors would no longer have the kind of common law protections from opportunism that helped protect their bargain for the better part of two centuries. In this Article, we argue that...
Persistent link: https://www.econbiz.de/10012850885
The lenders that fund Chapter 11 reorganizations exert significant influence over the bankruptcy process through the contract associated with the debtor-in-possession (“DIP”) loan. In this Article, we study a large sample of DIP loan contracts and document a trend: over the past three...
Persistent link: https://www.econbiz.de/10012832939
In this paper we adopt a new approach to the issue and contextualize the cost of chapter 11 by comparison to the costs of business bankruptcy in the Netherlands. Using unique data-sets that each author has developed in connection with other projects, we match a group of comparable cases from...
Persistent link: https://www.econbiz.de/10013095560