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Law and Economics

Selected Works

2015

Bankruptcy Law

Articles 1 - 2 of 2

Full-Text Articles in Law

Bankruptcy Or Bailouts?, Kenneth Ayotte, David Skeel Jun 2015

Bankruptcy Or Bailouts?, Kenneth Ayotte, David Skeel

Kenneth Ayotte

The usual reaction if one mentions bankruptcy as a mechanism for addressing a financial institution’s default is incredulity. Those who favor the rescue of troubled financial institutions, and even those who prefer that their assets be promptly sold to a healthier institution, treat bankruptcy as anathema. Everyone seems to agree that nothing good can come from bankruptcy. Indeed, the Chapter 11 filing by Lehman Brothers has been singled out by many the primary cause of the severe economic and financial contraction that followed, and proof that bankruptcy is disorderly and ineffective. As a result, ad-hoc rescue lending to avoid bankruptcy …

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A Racionalidade Econômica Do Direito Falimentar: Reflexões Sobre O Caso Brasileiro, Bruno Meyerhof Salama, Fabio Crocco Dec 2014

A Racionalidade Econômica Do Direito Falimentar: Reflexões Sobre O Caso Brasileiro, Bruno Meyerhof Salama, Fabio Crocco

Bruno Meyerhof Salama

Muito se pode aprimorar a aplicação do direito falimentar quando se conhece a lógica econômica de suas regras e princípios. Esse texto examina separadamente a racionalidade econômica de quatro aspectos centrais da LRF, a saber: (i) o princípio da universalidade da falência, (ii) o conceito de insolvência empresarial como predominantemente ligado à falta de caixa (e não à existência de déficit patrimonial), (iii) a responsabilização de sócios e administradores pelo agravamento de crises econômico-financeiras de empresas, e (iv) o processo de realização do ativo de empresas insolventes.

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