We propose a new bankruptcy procedure, that makes use of multiple auctions. The procedure is designed to work even when capital markets do not function well (for example in developing economies, or in economies in transition) - although it can be used in all economies. © 1997 Elsevier Science B.V.
|Number of pages||13|
|Journal||European Economic Review|
|Publication status||Published - Apr 1997|
- Bankruptcy reform