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Creditor Control and Conflict in Chapter 11
We analyze a sample of large privately and publicly held businesses that filed Chapter 11 bankruptcy petitions during 2001. We find pervasive creditor control. In contrast to traditional views ofExpand
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Matching Bankruptcy Laws to Legal Environments
TLDR
We study a model of optimal bankruptcy law in an environment where legal quality can vary along two dimensions: the expertise of judges and the quality of contract enforcement. Expand
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Optimal Property Rights in Financial Contracting
Optimal Property Rights in Financial Contracting Kenneth Ayotte and Patrick Bolton ∗ Columbia Business School February 2007 Abstract In this paper we propose a theory of optimal property rights in aExpand
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Asset-Backed Securities: Costs and Benefits of Bankruptcy Remoteness
This article focuses on a key property of asset-backed securities (ABS); namely, that ABS are designed to achieve "bankruptcy remoteness" of securitized assets from the borrowing firm. This providesExpand
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Why Do Distressed Companies Choose Delaware? An Empirical Analysis of Venue Choice in Bankruptcy
We analyze a sample of large Chapter 11 cases to determine which factors motivate the choice of filing in one court over another when a choice is available. We focus in particular on the DelawareExpand
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Research Handbook on the Economics of Property Law
Contents: Introduction Henry E. Smith 1. Property Rights, Land Settlement and Land Conflict on Frontiers: Evidence from Australia, Brazil and the US Lee J. Alston, Edwyna Harris and Bernardo MuellerExpand
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Bankruptcy or Bailouts
The usual reaction if one mentions bankruptcy as a mechanism for addressing a financial institution's default is incredulity. Those who favor the rescue of troubled financial institutions, and evenExpand
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Legal Entities as Transferable Bundles of Contracts
The large modern business corporation is frequently organized as a complex cluster of hundreds of corporate subsidiaries under the common control of a single corporate parent. Our paper provides newExpand
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Creditor Control and Conflict in Chapter 11 Bankruptcy
We analyze a sample of large privately and publicly held businesses that filed Chapter 11 bankruptcy petitions during 2001. We find pervasive creditor control. In contrast to traditional views ofExpand
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Bankruptcy and Entrepreneurship: The Value of a Fresh Start
This article considers bankruptcy law design in a setting that is appropriate for entrepreneurial firms. These firms are characterized by a dependence on an owner-manager who is essential to the firmExpand
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