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How to sell a (bankrupt) company?

Cornelli, Francesca and Felli, Leonardo (2000) How to sell a (bankrupt) company? 292. CESifo, Munich, Germany. (Unpublished)

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Identification Number: 292

Abstract

The restructuring of a bankrupt company often entails the sale of such company. This paper suggests a way to sell the company that maximizes the creditors‘ proceeds. The key to this proposal is the option left to the creditors to retain a fraction of the shares of the company. Indeed, by retaining the minority stake, creditors reduce to a minimum the rents that the sale of the company leaves in the hands of the buyer.

Item Type: Monograph (Working Paper)
Official URL: http://www.CESifo.de
Additional Information: © 2000 Francesca Cornelli and Leonardo Felli
Subjects: H Social Sciences > HG Finance
Sets: Research centres and groups > Financial Markets Group (FMG)
Collections > Economists Online
Departments > Economics
Research centres and groups > Suntory and Toyota International Centres for Economics and Related Disciplines (STICERD)
Collections > LSE Financial Markets Group (FMG) Working Papers
Date Deposited: 07 May 2008 10:59
Last Modified: 27 Feb 2014 15:36
URI: http://eprints.lse.ac.uk/id/eprint/4688

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