Cornelli, Francesca and Felli, Leonardo (2000) How to sell a (bankrupt) company? . CESifo, Munich, Germany.
Full text not available from this repository.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 |
| Divisions: | Financial Markets Group Economics STICERD |
| Subjects: | H Social Sciences > HG Finance |
| JEL classification: | G - Financial Economics > G3 - Corporate Finance and Governance > G33 - Bankruptcy; Liquidation D - Microeconomics > D7 - Analysis of Collective Decision-Making > D74 - Conflict; Conflict Resolution; Alliances |
| Date Deposited: | 07 May 2008 10:59 |
| Last Modified: | 15 Sep 2023 22:48 |
| URI: | http://eprints.lse.ac.uk/id/eprint/4688 |
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