Powerpoint: Bankruptcy Immunities, Transparency, and Capital Structure

  title={Powerpoint: Bankruptcy Immunities, Transparency, and Capital Structure},
  author={M. Simkovic},
  journal={ERN: Intertemporal Firm Choice \& Growth},
  • M. Simkovic
  • Published 2011
  • Economics
  • ERN: Intertemporal Firm Choice & Growth
Summarizes and further develops themes from "Secret Liens and the Financial Crisis of 2008".Secret Liens:This article explains the roots of financial crises in one of the oldest and most fundamental problems of commercial law: hidden leverage. Common law courts wrestled with this problem for centuries and developed a time - tested solution: the doctrine of secret liens. If the debtor becomes insolvent, the doctrine of secret liens punishes secret lien holders by subordinating their claims to… Expand
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