Corporate Bankruptcies In Germany
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Corporate Bankruptcies In Germany
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Author : Barbara Flaig
language : en
Publisher:
Release Date : 2020
Corporate Bankruptcies In Germany written by Barbara Flaig and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020 with Business & Economics categories.
German corporate bankruptcies are rarely investigated in economic literature. One main reason is the lack of available data. Furthermore, data quality is quite often poor. Thus, despite the high economic relevance, it is very difficult to explore the division of value in corporate bankruptcies or efficiency effects of insolvency law.This study provides a deeper insight into the economics of corporate reorganizations. Theoretical models that were mainly developed for the US legislation are discussed against the background of German bankruptcy law. By analyzing a unique data set of formal reorganization procedures in Germany between 1999 and 2012, the study identifies factors that influence the extent of recovery rates.
Private Equity Acquisitions Of Bankrupt Firms In The United States And Germany
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Author : Elmar Gans
language : en
Publisher: GRIN Verlag
Release Date : 2009-02-23
Private Equity Acquisitions Of Bankrupt Firms In The United States And Germany written by Elmar Gans and has been published by GRIN Verlag this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009-02-23 with Business & Economics categories.
Diploma Thesis from the year 2005 in the subject Business economics - Banking, Stock Exchanges, Insurance, Accounting, grade: 1,7, LMU Munich, language: English, abstract: In early December, 2004, German newspapers reported the acquisition of bankrupt automotive supplier Peguform GmbH, based in Bötzingen, by U.S. private equity investor Cerberus Capital Management1. The transaction was announced 30 months after Peguform, a company with more than 5,000 employees that recorded EUR 1.4 billion in revenues in 20032, had filed for bankruptcy. As it involved a large firm with substantial importance for Germany’s core automotive industry, this transaction shone a spotlight on a sector of the private equity business that has not yet been widely recognized in Germany: investments in bankrupt firms. While traditional private equity buyouts of financially stable firms have become more and more commonplace in Germany in recent years3, little attention has been devoted to the niche of transactions at the corporate cycle’s very end. In the United States, in contrast, private equity funds investing in bankrupt firms constitute a well-established part of the financial markets. In this thesis, I aim at providing an overview of the most important aspects concerning private equity acquisitions of bankrupt firms, both in the United States and Germany. This comprises an analysis of the institutional framework for such acquisitions, an investigation of the transaction process and the management of acquired businesses, a closer look at the actual market for these transactions and its development in recent years, and two case studies for practical insight and validation of the findings.
Financial Distress Corporate Restructuring And Firm Survival
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Author : Philipp Jostarndt
language : en
Publisher: Springer Science & Business Media
Release Date : 2007-11-17
Financial Distress Corporate Restructuring And Firm Survival written by Philipp Jostarndt and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2007-11-17 with Business & Economics categories.
Philipp Jostarndt studies distress-induced changes in ownership and control, success factors in distressed equity infusions, and firms’ choice between in- and out-of-court debt restructurings. In addition, he analyzes the determinants of survival, acquisition, and bankruptcy as alternative paths to exit financial distress. He includes both the firm perspective as well as the market valuations of the undertaken restructurings and, where applicable, relates the findings to the microstructure of Germany’s revised bankruptcy legislation.
Correlations And Business Cycles Of Credit Risk
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Author : Daniel Rösch
language : en
Publisher:
Release Date : 2003
Correlations And Business Cycles Of Credit Risk written by Daniel Rösch and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2003 with categories.
Insolvency Act
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Author : ... Gres-Frege
language : en
Publisher:
Release Date : 2002
Insolvency Act written by ... Gres-Frege and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2002 with Bankruptcy categories.
Commencement Of Insolvency Proceedings
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Author : Dennis Faber
language : en
Publisher: OUP Oxford
Release Date : 2012-03-29
Commencement Of Insolvency Proceedings written by Dennis Faber and has been published by OUP Oxford this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-03-29 with Law categories.
This is the first volume in the new Oxford International and Comparative Insolvency Law Series. The series will provide a comparative analysis of all important aspects of insolvency proceedings and domestic insolvency laws in the main economically developed and emerging countries, starting with the opening of proceedings. This volume addresses the commencement of insolvency proceedings over business debtors and the conditions in which they may arise. It explains the types of proceedings available and the participants involved. The book also analyses the effect of such action on the various players, assets and liabilities concerned. The detail and uniform nature of the treatment of topics helps practitioners to understand specific features of a foreign legal system and effectively brief foreign counsel. For all readers, the book provides access, through analysis in the detailed commentary, to material that was previously only available in a foreign language. Most major legal families (including various mixed legal systems) are covered to reflect the needs of the international insolvency community and intergovernmental organizations. This is the only book that offers a thorough comparative analysis of existing domestic insolvency laws concerning the opening of insolvency proceedings in the main economically developed and emerging countries.
Corporate Liquidity And Solvency In Europe During Covid 19 The Role Of Policies
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Author : Mr.Christian H Ebeke
language : en
Publisher: International Monetary Fund
Release Date : 2021-03-02
Corporate Liquidity And Solvency In Europe During Covid 19 The Role Of Policies written by Mr.Christian H Ebeke and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-03-02 with Business & Economics categories.
The spread of COVID-19, containment measures, and general uncertainty led to a sharp reduction in activity in the first half of 2020. Europe was hit particularly hard—the economic contraction in 2020 is estimated to have been among the largest in the world—with potentially severe repercussions on its nonfinancial corporations. A wave of corporate bankruptcies would generate mass unemployment, and a loss of productive capacity and firm-specific human capital. With many SMEs in Europe relying primarily on the banking sector for external finance, stress in the corporate sector could easily translate into pressures in the banking system (Aiyar et al., forthcoming).
Research Handbook On Corporate Bankruptcy Law
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Author : Barry E. Adler
language : en
Publisher: Edward Elgar Publishing
Release Date : 2020-06-26
Research Handbook On Corporate Bankruptcy Law written by Barry E. Adler and has been published by Edward Elgar Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-06-26 with Law categories.
In this Research Handbook, today’s leading experts on the law and economics of corporate bankruptcy address fundamental issues such as the efficiency of bankruptcy, the role and treatment of creditors – particularly secured creditors – in the bankruptcy process, the allocation of going-concern surplus among claimants, the desirability of liquidation in the absence of such surplus, the role of contract in bankruptcy resolution, the role of derivatives in the bankruptcy process, the costs of the bankruptcy system, and the special case of financial institutions, among other topics.
The Week In Germany
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Author :
language : en
Publisher:
Release Date : 1993
The Week In Germany written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1993 with Germany categories.
Banks Finance And Investment In Germany
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Author : Jeremy Edwards
language : en
Publisher: Cambridge University Press
Release Date : 1996-01-26
Banks Finance And Investment In Germany written by Jeremy Edwards 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 1996-01-26 with Business & Economics categories.
This book analyses the widely-held view of the merits of the 'bank-based' German system of finance for investment, and shows that this view is not supported by evidence from the post-war period. The institutional features of the German system are such that universal banks have control of voting rights at shareholders' meetings due to proxy votes, and they also have representation on companies' supervisory boards. These features are claimed to have two main benefits. One is that the German system reduces asymmetric information problems, enabling banks to supply more external finance to firms at a lower cost, and thus increasing investment. The other is that German banks are able to mould and control managements of firms on behalf of shareholders, and thus ensure that firms are run efficiently. This book assesses whether empirical evidence backs up these claims, and shows that the merits of the German system are largely myths.