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| Author: | Tashjian, E. Lease, R. McConnell, J. |
| Title: | Prepacks: an empirical analysis of prepackaged bankruptcies |
| Journal: | Journal of Financial Economics
1996 : JAN, VOL. 40:1, p. 135-162 |
| Index terms: | FINANCE ECONOMICS BANKRUPTCY |
| Language: | eng |
| Abstract: | The authors provide comprehensive data on the attributes and outcomes of the restructuring process for a sample of 49 financially distressed firms that restructured by means of a prepackaged bankruptcy. Their findings complement previous research on out-of-court restructurings and traditional Chapter 11 findings. By most measures, including the time spend in reorganization, the direct fees as a percent of pre-distress assets, the recovery rates by creditors etc. they find that prepacks lie between out-of-court restructurings and traditional Chapter 11 bankruptcies. |
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