system in relation to the insolvency of Ansett Australia.This article examines this significant decision in the field of …

pre-packs which vividly highlights this trade-off. In a pre-pack, an insolvency practitioner, appointed by the secured … businesses where secured creditors are concentrated the benefits of their control seem to outweigh the costs. This evidence …

about the design of debt contracts. The results derive from the premise that firms must avoid legal insolvency when issuing … new debt because insolvency at issuance would trigger severe operational limitations on the issuer. I first show that … legal insolvency limits debt capacity, limiting the amount of money that a firm can raise with debt. I next show that legal …