Resource title

The Importance from the absolute priority rule in chapter 11 bankruptcy proceedings

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Departures from the absolute rule (APR) in Chapter 11 bankruptcy proceedings have been of great interest to finance scholars throughout the 1990'S. In a recent article, Beranek, Boehmer and Smith (1996, BBS) criticize three of the early articles in this area (Franks and Torous (1989), Eberhart, Moore and Roenfeldt (1990); collectively called the priority papers), among others. This paper reviews the BBS paper, explains why APR violations have been interesting to finance researchers and documents the validity of the priority papers' focus

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en

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application/pdf

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http://flora.insead.edu/fichiersti_wp/inseadwp1998/98-27.pdf

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Copyright INSEAD. All rights reserved