Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/75627 
Year of Publication: 
2000
Series/Report no.: 
CESifo Working Paper No. 292
Publisher: 
Center for Economic Studies and ifo Institute (CESifo), Munich
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.
Subjects: 
Bankruptcy
control stakes
auction
Document Type: 
Working Paper
Appears in Collections:

Files in This Item:
File
Size





Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.