A New Bankruptcy Procedure that Uses Multiple Auctions

21 Pages Posted: 8 Jul 2000 Last revised: 7 Oct 2010

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 )

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Robert W. Drago

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

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Florencio Lopez de Silanes

SKEMA Business School ( email )

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France

National Bureau of Economic Research (NBER)

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John Hardman Moore

University of Edinburgh - Economics ( email )

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London School of Economics ( email )

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