Is the United States Doing Bankruptcy Wrong?
In a new study, Tuck professor Espen Eckbo finds that putting bankrupt companies on the auction block is more efficient than Chapter 11.
A Stress Test for the Euro
The European Union is bailing out Greece again. The bigger worry, says Espen Eckbo, is that Italy might be next. For the most part, the European Union has been a tremendous success. First it was a peace project, and there’s been no war…
Are We Doing Bankruptcy Wrong? Lessons from Sweden
When Congress created Chapter 11 bankruptcy procedures in 1978, the intent was to avoid having assets of temporarily insolvent companies auctioned off hastily. Congress figured that giving management time to restructure financial claims under court supervision was better than forcing a corporate takeover. Now new research indicates…