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This paper discusses four bankruptcy-related policy issues. First, what is the economic rationale for having a bankruptcy procedure at all and what defines an economically efficient bankruptcy procedure? Second, why did the number of U.S. bankruptcy filings increase so dramatically between 1980...
Persistent link: https://www.econbiz.de/10013151166
We examine the impact of the 2009 amendments to the Canadian Bankruptcy and Insolvency Act on insolvency decisions …
Persistent link: https://www.econbiz.de/10011477142
Spanish Insolvency Law dates back to 2003, but Spain is one of very few European countries lacking specific legislation … on consumer insolvency, even though the latest amendment to this law envisaged regulations on consumer insolvency in the …. This explains the need for a special approach to the issue of consumer insolvency, recently more geared towards specific …
Persistent link: https://www.econbiz.de/10013027570
This article presents arguments and evidence suggesting that the bankruptcy abuse reform (BAR) of 2005 may have been one contributor to the destabilizing surge in subprime foreclosures. Before BAR took effect, overly indebted borrowers could file bankruptcy to free up income to pay their...
Persistent link: https://www.econbiz.de/10013076286
This article presents arguments and evidence suggesting that the bankruptcy abuse reform (BAR) of 2005 may have been one contributor to the destabilizing surge in subprime foreclosures. Before BAR took effect, overly indebted borrowers could file bankruptcy to free up income to pay their...
Persistent link: https://www.econbiz.de/10013093861
industry lacked adequate resolution methods to deal with such a disaster. It caused mayhem throughout the world as a result of …'s demise. Stock markets around the world and in each country and institutional investors, and employees of the Firm and its …
Persistent link: https://www.econbiz.de/10014254713
Fraud and irrationality are often blamed for financial manias and panics. Investor euphoria can unleash social and technological breakthroughs, but the subsequent failures can destroy value and radicalize the political sphere. Are these events random, idiosyncratic, or driven by some force? The...
Persistent link: https://www.econbiz.de/10012839563
Persistent link: https://www.econbiz.de/10003785477
With the recent stock market frauds in markets around the world such as the Madoff case in the U.S. and the recent … World Bank and the International Corporate Governance Network (ICGN), along with major fund managers, are formulating sets … poor job of policing the complex world of finance and that the greater part of the task will be left to self policing on …
Persistent link: https://www.econbiz.de/10012556219
Persistent link: https://www.econbiz.de/10012692826