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An Analysis Of Second Time Around Bankruptcies Using A Split-Population Duration Model, Arindam Bandopadhyaya, Sanjiv Jaggia
An Analysis Of Second Time Around Bankruptcies Using A Split-Population Duration Model, Arindam Bandopadhyaya, Sanjiv Jaggia
Economics
A significant proportion of firms that reorganize under Chapter 11 file for a second Chapter 11 protection or liquidate. We use a "split-population" duration model that provides useful information regarding factors that could lead to a second bankruptcy. We find that the probability (hazard) of a firm re-entering bankruptcy is lower for firms that take a long time to reorganize, reduce their debt-to-assets ratio, do not divest, belong to an industry that has low capacity utilization and low demand growth. We also find that the probability of an average firm re-entering bankruptcy increases for about 4 years before declining.
Bankruptcy Court Jurisdiction And Agency Action: Resolving The Nextwave Of Conflict, Rafael I. Pardo
Bankruptcy Court Jurisdiction And Agency Action: Resolving The Nextwave Of Conflict, Rafael I. Pardo
Scholarship@WashULaw
This Comment criticizes a pair of decisions by the United States Court of Appeals for the Second Circuit, FCC v. NextWave Personal Communications, Inc. (In re NextWave Personal Communications, Inc.) and In re FCC, which held that a bankruptcy court lacks jurisdiction to determine whether the Federal Communications Commission is stayed from revoking a debtor's licenses. The Comment argues that the Second Circuit interpreted the bankruptcy court's jurisdiction too narrowly because it failed to distinguish properly between an agency's action as a creditor and as a regulator. It concludes that bankruptcy courts and courts of appeals have concurrent jurisdiction to …