The Experts below are selected from a list of 3174 Experts worldwide ranked by ideXlab platform
Nicolae Stef - One of the best experts on this subject based on the ideXlab platform.
-
Bankruptcy procedures in the post-transition economies
European Journal of Law and Economics, 2020Co-Authors: Régis Blazy, Nicolae StefAbstract:In the absence of well-developed financial markets, Bankruptcy procedures provide useful mechanisms to ease and organize the capital transfers of distressed businesses. From an investor’s perspective, such court-supervised ways of solving financial distress are part of the attractiveness of the post-transition economies that eventually integrated the European Union. This article originally analyzes the content of Bankruptcy files handled by the courts operating in three Eastern European countries: Hungary, Poland, and Romania. Our approach mostly focuses on the two fundamental issues that Bankruptcy courts must solve when the question of repayments arises: (1) maximizing and (2) sharing the debtor’s value. We first find that the investors’ recovery power strongly depends on the local rules prevailing after Bankruptcy Filing (legal indexes) and on the type of procedure engaged (reorganization vs. liquidation). Second, total recoveries do not benefit from the presence of public claims suggesting some passivity from the state, in the context of post-transition. Conversely, junior creditors exert a positive influence on total recoveries despite their poor legal protection, which contrasts with secured creditors (confirming the bad incentives that collaterals may generate). In addition, as in Western Europe, the Eastern European Bankruptcy systems provide stronger protection for private secured claims than for public claims.
William C. Whitford - One of the best experts on this subject based on the ideXlab platform.
-
Changing Definitions of Fresh Start in U.S. Bankruptcy Law
Journal of Consumer Policy, 1997Co-Authors: William C. WhitfordAbstract:Consumer Bankruptcy law in the United States has been distinguished by its commitment to the fresh start concept, enabling the debtor to discharge indebtedness and begin a new economic life. In this paper recent developments respecting four important limitations on the scope of the fresh start are examined. The four limitations are: (1) the debtor must give up non-exempt property; (2) in some parts of the country debtors are effectively required to complete 3 to 5 year debt repayment plans (called Chapter 13 plans) before receiving a discharge; (3) certain debts are "excepted" from discharge; and (4) many rights of secured creditors in collateral are preserved despite discharge. The author concludes that, with respect to the first three limitations, debtor's rights have been restricted over the past 15 years approximately. In the conclusion possible reasons for these restrictions in scope of the debtor's fresh start are discussed. The author discusses the tremendous increase in consumer Bankruptcy Filing rates in the United States but concludes that the best evidence indicates that increased Filings are not a good reason to restrict the scope of the fresh start. He suggests that one important factor for increasing limitations on the fresh start has been a reduced political commitment to values that historically have justified the granting of a discharge to consumer debtors.
Régis Blazy - One of the best experts on this subject based on the ideXlab platform.
-
Bankruptcy procedures in the post-transition economies
European Journal of Law and Economics, 2020Co-Authors: Régis Blazy, Nicolae StefAbstract:In the absence of well-developed financial markets, Bankruptcy procedures provide useful mechanisms to ease and organize the capital transfers of distressed businesses. From an investor’s perspective, such court-supervised ways of solving financial distress are part of the attractiveness of the post-transition economies that eventually integrated the European Union. This article originally analyzes the content of Bankruptcy files handled by the courts operating in three Eastern European countries: Hungary, Poland, and Romania. Our approach mostly focuses on the two fundamental issues that Bankruptcy courts must solve when the question of repayments arises: (1) maximizing and (2) sharing the debtor’s value. We first find that the investors’ recovery power strongly depends on the local rules prevailing after Bankruptcy Filing (legal indexes) and on the type of procedure engaged (reorganization vs. liquidation). Second, total recoveries do not benefit from the presence of public claims suggesting some passivity from the state, in the context of post-transition. Conversely, junior creditors exert a positive influence on total recoveries despite their poor legal protection, which contrasts with secured creditors (confirming the bad incentives that collaterals may generate). In addition, as in Western Europe, the Eastern European Bankruptcy systems provide stronger protection for private secured claims than for public claims.
Jeffery A. Born - One of the best experts on this subject based on the ideXlab platform.
-
Shareholder Wealth Responses to Bankruptcy Filing Announcements under the Chandler and Reform Acts
The Financial Review, 1995Co-Authors: James N. Rimbey, Seth C. Anderson, Jeffery A. BornAbstract:This paper examines shareholder wealth responses to Bankruptcy Filing announcements between 1974 and 1989 to draw inferences about the impact of the adoption of the Bankruptcy Reform Act of 1978. The authors find that post-Reform Act announcements are associated with more negative pre-Filing and announcement period returns to shareholders. Unlike prior research, this study finds that large firms and NYSE-listed firms experience more negative returns. It also finds that the market can discriminate between firms that are ultimately worthless and those that may retain some value for shareholders.
Padma Kaul - One of the best experts on this subject based on the ideXlab platform.
-
The intersection of health and wealth: association between personal Bankruptcy and myocardial infarction rates in Canada.
BMC public health, 2016Co-Authors: Anamaria Savu, Donald Schopflocher, Barry Scholnick, Padma KaulAbstract:We examined the association between personal Bankruptcy Filing and acute myocardial infarction (AMI) rates in Canada.
