The Changing Face of Chapter 11 Bankruptcy: Insights from Recent Trends and Research
SSRN Electronic Journal
2022
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Example: if you select the 1-year option for an article published in 2019 and a metric category shows 90%, that means that the article or review is performing better than 90% of the other articles/reviews published in that journal in 2019. If you select the 3-year option for the same article published in 2019 and the metric category shows 90%, that means that the article or review is performing better than 90% of the other articles/reviews published in that journal in 2019, 2018 and 2017.
Citation Benchmarking is provided by Scopus and SciVal and is different from the metrics context provided by PlumX Metrics.
Article Description
Several recent trends have reshaped the nature of bargaining in Chapter 11. These include: increasingly complex pre-bankruptcy capital structures; decreasing time in Chapter 11 due to prepacks and pre-negotiated plans; growing use of restructuring support agreements (RSAs) and sales of substantially all assets; an increased number of defaulting private equity owned firms; and an increase in activity of specialized distress debt investors. These trends have changed the balance of power in favor of senior secured lenders, who further shape the course of out-of-court negotiations. We examine evidence of the impact of these changes on important stakeholders including creditors and workers.
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