Bondholder Coercion
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Bondholder Coercion
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Author : John C. Coffee
language : en
Publisher:
Release Date : 1991
Bondholder Coercion written by John C. Coffee and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1991 with Corporate debt categories.
Law And Practice Of Liability Management
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Author : Apostolos Ath. Gkoutzinis
language : en
Publisher: Cambridge University Press
Release Date : 2014-05-01
Law And Practice Of Liability Management written by Apostolos Ath. Gkoutzinis and has been published by Cambridge University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-05-01 with Law categories.
Tender offers, exchange offers and consent solicitations in connection with debt securities are important instruments of corporate restructurings, corporate rescues, recapitalisations and other types of liability management of public and private companies. Although tender offers for shares, stocks and other equity securities are covered by a vast literature on public mergers, takeovers and acquisitions, the literature on liability management transactions for debt securities is scarce. Law and Practice of Liability Management rectifies this by providing a systematic treatise of the law relating to this significant aspect of the global capital market. It guides students and professionals through the complex legal and regulatory requirements applicable to these transactions, the increasing regulatory interest by the world's leading financial regulatory authorities, and recent innovations in the structuring, legal techniques and execution of the relevant transactions in international capital markets.
Coercive Tender And Exchange Offers In Distressed High Yield Debt Restructurings
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Author : Sris Chatterjee
language : en
Publisher:
Release Date : 2010
Coercive Tender And Exchange Offers In Distressed High Yield Debt Restructurings written by Sris Chatterjee and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010 with categories.
This study empirically examines tender and exchange offers for a recent sample of 46 high-yield debt restructurings by financially distressed firms during 1989-1992. We find significant differences between tender and exchange offers. Firms using tender offers appear to be in less financial distress than firms using exchange offers and face a more severe holdout problem as revealed by the structure of targeted debt. We find a significant level of coercion in our sample where tender offers appear to be more coercive than exchange offers. An analysis of success rates and post-offer filings of Chapter 11 indicates that coercion is effective in alleviating the holdout problem. Tender offers also experience a positive stock and bond price response to announcements. Our analysis suggests that coercion is not detrimental to bondholders, and may benefit security holders by increasing the likelihood of a less costly, out-of-court restructuring. Finally, we find that the LTV decision did not render exchange offers ineffective in restructuring debt of financially distressed firms. Solicitation of exit consents in exchange offers has increased significantly after the LTV decision.
Coercion
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Author : J. Roland Pennock
language : en
Publisher: Routledge
Release Date : 2017-07-12
Coercion written by J. Roland Pennock and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-07-12 with Social Science categories.
Coercion, it seems, like poverty and prejudice, has always been with us. Political thinkers and philosophers have been arguing its more direct and personal consequences for centuries. Today, at a point in history marked by dramatic changes and challenges to the existing military, political, and social order, coercion is more at the forefront of political activity than ever before. While the modern state has no doubt freed man from some of the forms of coercion by which he has traditionally been plagued, we hear now from all sectors of society complaints about systematic coerciveness-not only on the national and international levels, but on the individual level as well.
The Problems Of Indenture Trustees And Bondholders
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Author :
language : en
Publisher:
Release Date : 1995
The Problems Of Indenture Trustees And Bondholders written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1995 with Bankruptcy categories.
Capital Markets Deregulation And Liberalization Act Of 1995
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Author : United States. Congress. House. Committee on Commerce. Subcommittee on Telecommunications and Finance
language : en
Publisher:
Release Date : 1996
Capital Markets Deregulation And Liberalization Act Of 1995 written by United States. Congress. House. Committee on Commerce. Subcommittee on Telecommunications and Finance and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1996 with Business & Economics categories.
Towards A Reorganisation System For Sovereign Debt
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Author : Holger Schier
language : en
Publisher: BRILL
Release Date : 2007-11-30
Towards A Reorganisation System For Sovereign Debt written by Holger Schier and has been published by BRILL this book supported file pdf, txt, epub, kindle and other format this book has been release on 2007-11-30 with Law categories.
The insolvency of sovereign debtors is a virtually timeless phenomenon and yet the existing international financial architecture does not provide any legal framework to deal with this issue. Following an overview of the main proposals as to how to bridge this gap, this study analyses the extent to which public international law can be used as a source for the establishment of a reorganisation system for sovereign debt. While there is no adequate customary international law relating to sovereign insolvencies, reference can instead be made to the growing body of general principles of law. This is illustrated by a comparison of the systems of corporate financial reorganisation in insolvency in six representatively selected countries - Argentina, England, France, Germany, Indonesia and the U.S. Due to the inherent lack of enforceability with regard to sovereign debtors, in order to be able to provide a basis for a reorganisation system for sovereign debt, these principles need to be complemented with a compliance control mechanism. This study suggests how such a system could be constructed and implemented.
Corporate Governance Regimes
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Author : Joseph McCahery
language : en
Publisher: Oxford University Press, USA
Release Date : 2002
Corporate Governance Regimes written by Joseph McCahery and has been published by Oxford University Press, USA this book supported file pdf, txt, epub, kindle and other format this book has been release on 2002 with Business & Economics categories.
This volume provides an up-to-the-minute survey of the field of corporate governance, focusing particularly on issues of convergence and diversity. A number of topics are discussed including bankruptcy procedures, initial public offerings, the role of large stakes, comparative corporate governance, and institutional investors.
Creditor Rights And The Public Interest
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Author : Janis Pearl Sarra
language : en
Publisher:
Release Date : 2003
Creditor Rights And The Public Interest written by Janis Pearl Sarra and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2003 with Law categories.
Creditor Rights and the Public Interest supports the greater representation of non-traditional creditors in the process of insolvency restructuring in Canada, concentrating particularly on restructuring under the federal Companies' Creditors' Arrangement Act (CCAA). Arguing in favour of the representation of such non-traditional creditors as workers, consumers, trade suppliers, and local governments, Janis Sarra describes the existing process of addressing their interests, analyzes four case studies that focus on non-creditor groups, and compares the Canadian approach to that of several other countries, such as Germany, France, and the United States. Sarra draws on a comprehensive body of academic literature that covers a broad range of issues--insolvency theory, corporate governance theory, legislative history, and bankruptcy and insolvency practice. She further surveys the relevant legislation and supplements her analysis with insights drawn from extensive primary research of court records and personal interviews with lawyers, judges, and government officials. Creditor Rights and the Public Interest ultimately illustrates the way in which the concept of the public interest can be utilized to foreground the concerns of non-traditional stakeholders. Sarra provides a coherent account of the justification for recognizing these creditors by situating insolvency law in a legal regime that realizes a duty to maximize all of the interests and investments at stake in the corporation. In an academic field where scholarship is currently scarce, Sarra's text will be a welcome contribution.
University Of Chicago Law Review Volume 79 Number 2 Spring 2012
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Author : University of Chicago Law Review
language : en
Publisher: Quid Pro Books
Release Date : 2012-11-22
University Of Chicago Law Review Volume 79 Number 2 Spring 2012 written by University of Chicago Law Review and has been published by Quid Pro Books this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-11-22 with Law categories.
A leading law review offers a quality eBook edition. This second issue of 2012 features articles and essays from internationally recognized legal scholars. Authors include Eric Biber, writing on variations in scientific disciplines, experts, and environmental law; Frederic Bloom and Christopher Serkin, on suing courts and takings of property; Myriam Gilles and Gary Friedman, on aggregating consumer litigation after the AT&T Mobility decision on class actions; and David Skeel, Jr., on the possibility of bankruptcy for several U.S. states. In addition, the issue includes book review essays by Aziz Huq, concerning the power and limits of the executive branch; and by Laura Nirider, Joshua Tepfer, and Steven Drizin, on convicting the innocent and false confessions. Finally, an extensive student contribution explores antitrust law, state immunity from suit, and state licensing boards. In the eBook edition, Tables of Contents are active, including those for individual articles; footnotes are fully linked and properly numbered; graphs and figures are reproduced legibly; URLs in footnotes are active; and proper eBook formatting is used.