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A New Bankruptcy Procedure that Uses Multiple Auctions

NBER Working Paper No. w6278

21 Pages Posted: 8 Jul 2000 Last revised: 27 Feb 2022

See all articles by Oliver Hart

Oliver Hart

Harvard University - Department of Economics; National Bureau of Economic Research (NBER); European Corporate Governance Institute (ECGI)

Robert W. Drago

Pennsylvania State University - Department of Labor Studies and Industrial Relations

Florencio Lopez-de-Silanes

SKEMA Business School; National Bureau of Economic Research (NBER)

John Moore

University of Edinburgh - Economics; London School of Economics

Multiple version iconThere are 2 versions of this paper

Date Written: November 1997

Abstract

We develop a new bankruptcy procedure that makes use of multiple auctions. The procedure" is designed to work even when capital markets do not function well (for example in developing" economies, or in economies in transition) -- although it can be used in all economies."

Suggested Citation

Hart, Oliver D. and Drago, Robert W. and Lopez-de-Silanes, Florencio and Moore, John Hardman, A New Bankruptcy Procedure that Uses Multiple Auctions (November 1997). NBER Working Paper No. w6278, Available at SSRN: https://ssrn.com/abstract=226035

Oliver D. Hart (Contact Author)

Harvard University - Department of Economics ( email )

Littauer Center
Cambridge, MA 02138
United States
617-496-3461 (Phone)
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National Bureau of Economic Research (NBER) ( email )

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European Corporate Governance Institute (ECGI) ( email )

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Belgium

Robert W. Drago

Pennsylvania State University - Department of Labor Studies and Industrial Relations ( email )

University Park, PA 16802
United States
814-865-0751 (Phone)
814-863-3578 (Fax)

Florencio Lopez-de-Silanes

SKEMA Business School ( email )

Avenue Willy Brandt, Euralille
Lille, 59777
France

National Bureau of Economic Research (NBER)

1050 Massachusetts Avenue
Cambridge, MA 02138
United States

John Hardman Moore

University of Edinburgh - Economics ( email )

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Edinburgh, EH8 9JY, Scotland
United Kingdom

London School of Economics ( email )

Houghton Street
London WC2A 2AE
United Kingdom
44-171-955-7550 (Phone)
44-171-831-1840 (Fax)

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