This chapter reviews empirical research on the use of private and court-supervised
mechanisms for resolving default and reorganizing companies in financial distress. Starting …

Insolvency practitioners from 88 countries describe how debt enforcement will proceed
against an identical hotel about to default on its debt. We use the data on time, cost, and the …

The award-winning The New Palgrave Dictionary of Economics, 2nd edition is now
available as a dynamic online resource. Consisting of over 1,900 articles written by leading …

Abstract The European Commission has proposed a Directive on 'preventive restructuring
frameworks' for financially distressed firms. I demonstrate that the proposal is flawed …

We study a model of optimal bankruptcy law in an environment where legal quality can vary
along two dimensions: the expertise of judges and the quality of contract enforcement. We …

Financial markets in emerging economies are often perceived as more risky than those in
developed countries. We investigate whether this is true for loans to SMEs using a unique …

An efficient bankruptcy system should liquidate nonviable businesses and reorganize viable
ones. The importance of this filtering process has long been recognized in the literature; the …

In a financial contracting model, we study the optimal debt structure to resolve financial
distress. We show that a debt structure where two distinct debt classes coexist—one class …

Na razvoj motivacije za uĉenje je moguće i potrebno uticati, a najznaĉajnija uloga u tome
pripada školi, odnosno nastavnicima u procesu nastave. Postoji odreĊen broj autora koji …

The current economic crisis is showing one of the main problems that many companies in
financial distress have to face, namely, the impact of bankruptcy law in relation to companies …