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Chapter 11 'Failure'

Stephen J. Lubben

Seton Hall University - School of Law

April 8, 2009

Seton Hall Public Law Research Paper No. 1375163

Nearly thirty years of chapter 11 scholarship offers little insight into the reasons why certain firms are unable to confirm a reorganization plan. This paper offers the first empirical model of why firms fail in chapter 11. Using a database of 945 chapter 11 cases filed in 2004, and a simple definition of chapter 11 failure as any case that is converted to chapter 7 or dismissed, I show that some of the most significant predictors of "failure" are observable on the first day of a chapter 11 case.

Number of Pages in PDF File: 18

Keywords: Chapter 11, bankruptcy, reorganization, financial distress, Lubben

JEL Classification: M10

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Date posted: April 9, 2009 ; Last revised: May 8, 2009

Suggested Citation

Lubben, Stephen J., Chapter 11 'Failure' (April 8, 2009). Seton Hall Public Law Research Paper No. 1375163. Available at SSRN: https://ssrn.com/abstract=1375163 or http://dx.doi.org/10.2139/ssrn.1375163

Contact Information

Stephen J. Lubben (Contact Author)
Seton Hall University - School of Law ( email )
One Newark Center
Newark, NJ 07102-5210
United States
973-642-8857 (Phone)
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