Abstract

http://ssrn.com/abstract=1530011
 
 

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A Reassessment of Bankruptcy Reorganization after Chrysler and General Motors


Barry E. Adler


New York University School of Law

December 31, 2009

NYU Law and Economics Research Paper No. 10-04

Abstract:     
The descent of Chrysler and General Motors into bankruptcy threatens the Chapter 11 reorganization process itself. In each case, a judge approved a transfer of a debtor’s assets to favored creditors under circumstances where holders of other claims were denied basic safeguards. Legal reform is required, and proposed here, to assure that aggrieved creditors are granted protection either of the marketplace or of the Bankruptcy Code’s creditor democracy provisions. Such reform could help minimize the cost of capital faced by future debtors.

Number of Pages in PDF File: 22

Keywords: Bankruptcy, Reorganization, Corporate Finance

JEL Classification: G33, K22

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Date posted: January 1, 2010 ; Last revised: January 25, 2010

Suggested Citation

Adler, Barry E., A Reassessment of Bankruptcy Reorganization after Chrysler and General Motors (December 31, 2009). NYU Law and Economics Research Paper No. 10-04. Available at SSRN: http://ssrn.com/abstract=1530011

Contact Information

Barry E. Adler (Contact Author)
New York University School of Law ( email )
40 Washington Square South
New York, NY 10012-1099
United States
212-998-6660 (Phone)
212-995-4341 (Fax)
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