Creditor Financing and Overbidding in Bankruptcy Auctions: Theory and Tests
We present unique empirical tests for overbidding using data from Sweden's auction bankruptcy system. The main creditor (a bank) can neither bid in the...
Read moreWe present unique empirical tests for overbidding using data from Sweden's auction bankruptcy system. The main creditor (a bank) can neither bid in the...
Read moreThe European Commission has proposed a directive on ‘preventive restructuring frameworks’ for financially distressed firms. I demonstrate that...
Read moreDespite its massive size, the corporate debt market is often considered a sleepy refuge for the risk-averse. Yet, corporate debt contracts are often...
Read moreWe examine the role private equity (PE) firms play in the resolution of financial distress using a sample of 2,151 firms that borrow in the leveraged loan...
Read moreThe recent bailout of Credit Suisse is noteworthy for many reasons. One of them is that, while AT1 bondholders were wiped out, shareholders were not. This...
Read moreInsolvency proceedings and issues relating to personal and business insolvencies are the daily subject of scholarly work and insolvency practice. But...
Read moreThis discussion paper investigates the differences existing between the Single Point of Entry and the Multiple Point of Entry resolution models and...
Read moreA generally accepted view is that sophisticated bankruptcy procedures are required to mitigate coordination failures and fire sale discounts arising...
Read moreIn this article, I discuss the possibilities and limitations of restructuring laws against the background of geopolitical shocks such as the Covid-19...
Read moreSince the enactment of the Dodd-Frank Act in 2010, U.S. bank regulation and bankruptcy have become far more closely intertwined. In this Article, I ask...
Read moreThis Article proposes reforms to bankruptcy law’s venue rules. These reforms would expand venue choice, reduce opportunistic venue shopping, and...
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