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Full-Text Articles in Finance and Financial Management
Should Ad Hoc Committees Have Fiduciary Duties?: Judicial Regulation Of The Bankruptcy Market, David L. Perechocky
Should Ad Hoc Committees Have Fiduciary Duties?: Judicial Regulation Of The Bankruptcy Market, David L. Perechocky
David L Perechocky
This article is the first to substantively and directly address the question of whether informal creditor groups in bankruptcy cases could and should have fiduciary duties to other creditors. The rise of activist investors and claims traders in bankruptcy proceedings has significantly changed the bankruptcy process, to much controversy. One particularly contentious topic is the growing presence of informal, or “ad hoc,” creditor groups. Proponents argue that these groups are beneficial by enabling creditors to work together efficiently and effectively, but critics view their actions as disruptive and often unfair to other creditors. A recent decision in the Washington Mutual …
Transaction Consistency And The New Finance In Bankruptcy, David A. Skeel Jr., Thomas Jackson
Transaction Consistency And The New Finance In Bankruptcy, David A. Skeel Jr., Thomas Jackson
All Faculty Scholarship
Prior to the enactment of the Dodd-Frank Act last summer, derivatives and repurchase agreements (“repos”) were largely unregulated outside of bankruptcy, and also were exempted from core bankruptcy provisions such as the automatic stay, which prevents creditors from seizing collateral or attempting to collect what they are owed. The Dodd-Frank Act now extensively regulates derivatives outside of bankruptcy, but it left their special treatment in bankruptcy completely untouched.
There is a gap in the debate over this special treatment. To date, neither scholars nor the derivatives industry have fully analyzed the key counterfactual: what would happen if derivatives and repos …
Nonstatistical Factors Influencing Predictions Of Financial Distress And Managerial Implications In The All-Cargo Airline Industry, Robert O. Walton
Nonstatistical Factors Influencing Predictions Of Financial Distress And Managerial Implications In The All-Cargo Airline Industry, Robert O. Walton
Publications
All-cargo airlines carry over 50% of global airfreight, yet they are prone to bankruptcy. Many financial models are designed to predict a firms' financial health, but they do not assess many nonstatistical factors that influence the prediction capability of these models. In this study, qualitative grounded theory design was used to identify nonstatistical factors and explore how they influence bankruptcy prediction models in the all-cargo airline industry. In the first phase of the study, financial data from 2005 to 2009 for 17 all-cargo U.S. airlines were used to determine the bankruptcy prediction ability of the Kroeze financial bankruptcy model. A …