This study examines the impact of the Uniform Fraudulent Transfer Act (UFTA) on venture capital (VC) investment, innovation activity, successful exit, and financial distress of entrepreneur entities. The UFTA mainly contributes to eliminating the burden of proof against fraudulent transfer...

At all times a debtor exist when there is a creditor. According to the current Rwandan law relating to insolvency, it is provided that the commencement of the insolvency proceedings shall lead to the stay of among others the individual actions or proceedings concerning the debtor’s rights,...

We study a 2013 court decision that enhanced creditor control rights in Israeli firms by allowing them to force companies into bankruptcy. We find that the market expected the court ruling to benefit creditors: bond (equity) prices of companies affected by the new rule responded positively...