Explore how bankruptcy law shapes who gets paid in Chapter 11 restructurings. This study analyzes how often the absolute priority rule is violated across real-world cases and what that means for creditors and equity holders.
In a focused look at 26 firms emerging from Chapter 11 between 1988 and 1990, the book examines who receives distributions and how recovery varies by claim type and security. It highlights patterns across secured and unsecured creditors, as well as equity holders, with concrete recovery numbers and case examples.
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Vendeur : Forgotten Books, London, Royaume-Uni
Paperback. Etat : New. Print on Demand. This book investigates the distribution of assets, specifically in firms emerging from Chapter 11 bankruptcy reorganization. It concerns the often-violated 'absolute priority rule', which states that, during liquidation, senior creditors must be paid in full before junior creditors receive any distribution. However, in practice, the authors find that this rule is often breached; creditors' incentives to reduce bankruptcy costs, and the influence of stockholders on reorganization plans, among other reasons, result in secured creditors, unsecured creditors, and equity holders receiving a distribution that diverges from legal entitlement. Such violations raise questions about the true entitlements of different asset classes and also about the relative importance of different hypotheses explaining the phenomenon. The authors conclude that no single hypothesis is correct for all firms, but that the relative importance of different hypotheses depends on the specifics of each reorganization. This book is a reproduction of an important historical work, digitally reconstructed using state-of-the-art technology to preserve the original format. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in the book. print-on-demand item. N° de réf. du vendeur 9781333749040_0
Quantité disponible : Plus de 20 disponibles
Vendeur : PBShop.store US, Wood Dale, IL, Etats-Unis
PAP. Etat : New. New Book. Shipped from UK. Established seller since 2000. N° de réf. du vendeur LW-9781333749040
Quantité disponible : 15 disponible(s)
Vendeur : PBShop.store UK, Fairford, GLOS, Royaume-Uni
PAP. Etat : New. New Book. Shipped from UK. Established seller since 2000. N° de réf. du vendeur LW-9781333749040
Quantité disponible : 15 disponible(s)
Vendeur : Bulrushed Books, Moscow, ID, Etats-Unis
Etat : Like New. In unused condition, may show some slight shelf wear, but otherwise unread. This title was digitally scanned from a rare, out of print edition, and will have some visual artifacts from that process. N° de réf. du vendeur #252B-0081
Quantité disponible : 1 disponible(s)