In early 2005, the Brazilian Congress approved a new bankruptcy law. The new legislation increased creditor protection … and improved the efficiency of the bankruptcy system. This paper evaluates the empirical consequences of a bankruptcy … different models, the effect of the bankruptcy reform on contractual and non-contractual debt variables. In general, both models …

distress on real activities. While direct litigation and bankruptcy costs are significant, value computations and clinical …

-backed companies do not suffer from higher bankruptcy rates than comparable non-buyout companies. In fact, when companies are backed by … experienced private equity funds, their bankruptcy rates are even lower. These findings indicate that experienced investors are …

We use data from the US airline industry to investigate whether firms that are under bankruptcy protection, as well as … delays and cancelations are less frequent during bankruptcy filings but return to their pre-bankruptcy levels once the … bankrupt firm emerges from bankruptcy. We also find that firms use Chapter 11 filings to permanently reduce the age of their …