The Market is Fairer than Bebchuk’s Scheme
Dilger Alexander
Zusammenfassung
Bebchuk's proposal for bankruptcy reform is described and analyzed, in particular his claim that using options is fair and that the participants of such a bankruptcy procedure have no basis to complain. It will be shown that some reasons for complaining remain. Above all, the proposal has a systematic bias against junior creditors and former shareholders because they have to pay for unavoidable mistakes in estimating the company's value and may lack the financial resources to exercise their options. A market solution will be specified that is fairer than Bebchuk's scheme according to his own standards.
Publikationstyp
Sonstige wissenschaftliche Veröffentlichung
Publikationsstatus
Veröffentlicht
Jahr
2000
Band
09/00
Reihe
Wirtschaftswissenschaftliches Diskussionspapier der Rechts- und Staatswissenschaftlichen Fakultät
Ort
Greifswald
Sprache
Englisch
ISSN
1437-6989
Gesamter Text