Our paper explores a comprehensive sample of small and large corporate bankruptcies in Arizona and New York from 1995 to 2001. Bankruptcy costs are very heterogeneous and sensitive to the measurement ...method used. We find that Chapter 7 liquidations appear to be no faster or cheaper (in terms of direct expense) than Chapter 11 reorganizations. However, Chapter 11 seems to preserve assets better, thereby allowing creditors to recover relatively more. Our paper also provides a large number of further empirical regularities.
Il presente lavoro è finalizzato a ricostruire gli aspetti di fondo della disciplina dell'obbligazione doganale, con particolare riferimento al diritto dell'Unione europea, riordinandone gli istituti ...sia nella prospettiva di ricostruire principi di riferimento applicabili all'intera materia, sia per rendere conto delle modalità di coordinamento tra i diversi ambiti regolati. Tale coordinamento, quale sarà esaminato nelle pagine che seguono, è sia interno alla normativa doganale, pur considerando i rapporti a tal fine operanti tra regole di fonte unionale e regole di fonte interna, sia esterno, volto cioè ad analizzare i rapporti e reciproci condizionamenti tra disciplina dell'obbligazione doganale e ambiti connessi, ovvero imposta sul valore aggiunto e imposte sui consumi riscosse in ragione dell'ingresso della merce nel territorio doganale dello Stato.
L'analisi sarà altresì condotta con l'intento di integrare la disciplina dell'obbligazione doganale attraverso un richiamo a regole e istituti, di diritto unionale e interno non strettamente appartenenti all'ambito del diritto doganale dell'Unione europea, ma che pure assumono rilievo nell'ambito e nella prospettiva in esame.Testo dell'editore
Much has been written about the relationship between high medical expenses and the likelihood of filing for bankruptcy, but the relationship between receiving a cancer diagnosis and filing for ...bankruptcy is less well understood. We estimated the incidence and relative risk of bankruptcy for people age twenty-one or older diagnosed with cancer compared to people the same age without cancer by conducting a retrospective cohort analysis that used a variety of medical, personal, legal, and bankruptcy sources covering the Western District of Washington State in US Bankruptcy Court for the period 1995-2009. We found that cancer patients were 2.65 times more likely to go bankrupt than people without cancer. Younger cancer patients had 2-5 times higher rates of bankruptcy than cancer patients age sixty-five or older, which indicates that Medicare and Social Security may mitigate bankruptcy risk for the older group. The findings suggest that employers and governments may have a policy role to play in creating programs and incentives that could help people cover expenses in the first year following a cancer diagnosis.
Bankruptcy law and bank financing Rodano, Giacomo; Serrano-Velarde, Nicolas; Tarantino, Emanuele
Journal of financial economics,
05/2016, Letnik:
120, Številka:
2
Journal Article
Recenzirano
Odprti dostop
Exploiting the timing of the 2005–2006 Italian bankruptcy law reforms, we disentangle the effects of reorganization and liquidation in bankruptcy on bank financing and firm investment. A 2005 reform ...introduces reorganization procedures facilitating loan renegotiation. The 2006 reform subsequently strengthens creditor rights in liquidation. The first reform increases interest rates and reduces investment. The second reform reduces interest rates and spurs investment. Our results highlight the importance of identifying the distinct effects of liquidation and reorganization, as these procedures differently address the tension in bankruptcy law between the continuation of viable businesses and the preservation of repayment incentives.
The liability of the insolvency administrator pursuant to sec. 60 InsO is a continuous subject of legal discourse. There are repeated calls for a limitation of the liability risk. This work pursues a ...new approach: the fundamentals and function of the insolvency administrator's liability are examined and, for the first time, compared with the liability of the bankruptcy trustee under U.S. bankruptcy law. Among other things, it is revealed that the bankruptcy trustee is subject to far greater court and creditor control than his German counterpart and that the principle of "concurrence of control and liability," which is essential for the comparatively strict liability under sec. 60 InsO, is not universally implemented.
El libro que el lector tiene entre manos pretende ser una aproximación al derecho concursal que rige en nuestro país y que, en síntesis, contiene su regulación en el Real Decreto Legislativo 1/2020, ...de 5 de mayo, por el que se aprueba el texto refundido de la Ley Concursal. En menor medida el Real Decreto Legislativo 1/2010, de 2 de julio, por el que se aprueba el texto refundido de la Ley de Sociedades de Capital regula algunas situaciones de insolvencia. Como norma procesal de referencia, aunque de aplicación supletoria, la Ley 1/2000, de 7 de enero, de Enjuiciamiento Civil. Este libro introductorio está dividido en diferentes capítulos, algunos con más extensión que otros, desde una introducción y un capítulo dedicado a mecanismos preconcursales hasta otro dedicado al régimen especial de microempresas, pasando por otros relativos a los principales aspectos que regula la norma concursal como la declaración de concurso y sus efectos, la figura de la administración concursal, el convenio, la apertura de la liquidación y un capítulo íntegramente de carácter procesal denominado «incidente concursal», sin olvidar el nuevo Plan de Reestructuración.
Consumer bankruptcy is one of the largest social insurance programs in the United States, but little is known about its impact on debtors. We use 500,000 bankruptcy filings matched to administrative ...tax and foreclosure data to estimate the impact of Chapter 13 bankruptcy protection on subsequent outcomes. Exploiting the random assignment of bankruptcy filings to judges, we find that Chapter 13 protection increases annual earnings by $5,562, decreases five-year mortality by 1.2 percentage points, and decreases five-year foreclosure rates by 19.1 percentage points. These results come primarily from the deterioration of outcomes among dismissed filers, not gains by granted filers.
We exploit state-level changes in the amount of personal wealth individuals can protect under Chapter 7 to analyze the effect of debtor protection on the financing structure and performance of a ...representative panel of U.S. startups. The effect of increasing debtor protection depends on the entrepreneur's level of wealth. Firms owned by mid-wealth entrepreneurs whose assets become fully protected suffer a reduction in credit availability, employment, operating efficiency, and survival rates. We find no such negative effects for low-wealth and high-wealth owners. Our results are consistent with theories that predict that asset protection in bankruptcy leads to a redistribution of credit.
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