|
|
|
|
||||
|
||||
Revenue Efficiency and Change of Control: The Case of BankruptcyFrancesca CornelliLondon Business School; Centre for Economic Policy Research (CEPR) Leonardo FelliLondon School of Economics - Department of Economics; CESifo (Center for Economic Studies and Ifo Institute for Economic Research); Centre for Economic Policy Research (CEPR) August 1998 Rodney L. White Center for Financial Research, Working Paper No. 018-98 Abstract: The restructuring of a bankrupt company often entails a change of control. By efficiency of a bankruptcy procedure it is usually meant that the control is allocated into the hands of those who can maximize its value. In this paper we focus instead on how to allocate control with a procedure that allows the creditors to maximize their returns. The conclusion is that creditors should be allowed to retain a fraction of the shares of the company. working papers series Date posted: August 19, 1998Suggested CitationContact Information
|
|
||||||||||||||||||||||||
© 2013 Social Science Electronic Publishing, Inc. All Rights Reserved.
FAQ
Terms of Use
Privacy Policy
Copyright
This page was processed by apollo2 in 0.328 seconds
