Much Ado about Nothing: Absolute Priority Deviations in Chapter 11

Some of the authors of empirical bankruptcy studies have misinterpreted the "absolute priority rule" (APR) and erroneously concluded that at least some bankruptcy courts are failing to enforce the law. This paper clarifies the APR and explains why departures from it are permitted by the US bankruptcy code in certain circumstances.

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Year of publication:	1996
Authors:	Beranek, William ; Boehmer, Robert ; Smith, Brooke
Published in:	Financial Management. - Financial Management Association - FMA. - Vol. 25.1996, 3
Publisher:	Financial Management Association - FMA

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Type of publication:	Article
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005764990