This thesis examines determinants of post-bankruptcy performance by using insolvent firms under the bankruptcy reorganization proceedings of the 1940 Thai Bankruptcy Act. The purpose of the study is to investigate whether the key governance mechanisms within this process are factors which may contribute to successful reorganization and how they affect a firm's post-bankruptcy performance. Using agency theory, a sample of III filing companies whose plans have been confirmed by the Thai Central Bankruptcy Court during 1999-2002 provide the data of the study. Descriptive statistics and ordinary least squares regression analysis are employed for data analysis. The results indicate that among three types of governance mechanisms in the bankruptcy reorganization process, namely, monitoring, incentive and restructuring mechanisms, monitoring and incentive mechanisms are significant determinants of a firm's post-bankruptcy performance. The key monitoring mechanism is ownership concentration of common shares held by the largest shareholder, whereas the critical incentive mechanisms are cash compensation for the plan administrator and percentage of common shares held by the plan administrator. Asset restructuring is statistically insignificant but positively links to post-bankruptcy performance. The results indicate that these mechanisms can mitigate agency problems of insolvent companies and increase post-bankruptcy performance over a three year period.

This study utilizes a sample of private equity backed acquisitions to test whether certain factors, evaluated and quantified on the date of transaction completion, serve as indicators of future transaction bankruptcy. The results of this paper suggest that the effective federal funds rate is significantly and positively correlated with the bankruptcy of private equity backed transactions. Other measured factors specific to the private equity sponsor, the target firm in the acquisition and the characteristics of the transaction are found to be insignificant. Analysis on the influence of these factors is performed using two types of binary-response models, which predict the likelihood of the occurrence of bankruptcy, and a matched sample model that tests for the difference of means between a non-bankrupt transaction group and a bankrupt transaction group. Limitations in the availability of data derived from the private nature of the industry resulted in a limited sample size of 259 transactions completed from 1989 to 2008. General insignificance in the results of this study merits further analysis on the contributing factors to private equity transaction failure.

The website, Plastic Jungle, is taking advantage of the rapidly growing gift card phenomena by creating a secondary market that enables consumers to buy, sell, and exchange gift cards online at a discount. This paper examines the relationship between this secondary gift card market and the corporate bankruptcy risk of companies with gift cards listed on the market. When a company issues a gift card, the card is unsecured debt and the cardholder becomes an unsecured creditor to the company. This paper investigates whether the cardholder acts similarly to other unsecured creditors or as someone who is merely holding another form of cash. As was expected, this paper finds evidence indicating the spot price on the gift card is correlated to some forms of bankruptcy risk. Specifically, the gift cardholders act like unsecured creditors in terms of excess stock returns, CDS price, and the idiosyncratic risk of companies.

The lack of clarity of Canadian insolvency legislation with respect to the treatment of environmental claims has left Canadian courts wondering whether they should advance the public order policies embodied in the environmental legislation or promote creditors' interests and the private relief afforded by bankruptcy. This thesis examines the state of the law on the question and provides a critical assessment of the legislation and the relevant case law. The author points to the flaws of the legislation and its judicial interpretation, while uncovering the underlying reasons for the existence of such a confused body of jurisprudence. Building on these findings, the author proposes a reform of the insolvency legislation that would uphold the protection of the environment as a fundamental value in Canadian society.

Bankroto procesas - atskira civilinio proceso rūšis, pasižyminti dalyko, proceso dalyvių, bylos nagrinėjimo stadijų specifika bei išskirtiniais tikslais. Lietuvos Respublikos teisės aktais reglamentuojamo bankroto proceso pagrindinis tikslas yra likvidacinis, t.y. nukreiptumas į įmonės teisinę pabaigą. Darbe analizuojami bankroto procesą Lietuvos Respublikoje reglamentuojantys teisės aktai bei jų taikymo (t.y. teisminė) praktika, keliant ir nagrinėjant bankroto bylas, tuo pačiu, darbe atliekama Lietuvos Respublikos ir užsienio valstybių bankroto procesą reguliuojančių teisės aktų lyginamoji analizė aktualiais klausimais, siekiant nustatyti bankroto proceso Lietuvos Respublikoje tikslus, teisinio reglamentavo spragas, teismų praktikos klaidas bei pasiūlyti galimus minėtų probleminių klausimų sprendimus. / The process of bankruptcy is the separate part of the civil process, and is distinguished by an object’, the process participants’, the case hearing stages’ particularity and by the exceptional purposes. In the Republic of Lithuania, the main purpose of the process of bankruptcy is liquidation, i.e., direction to the legal end of the enterprise. In the scientific work, there is presented analysis of the laws, which are regulating the process of bankruptcy in the Republic of Lithuania, and their application in the judicial practice, when bankruptcy cases are heard, also, is fulfilled the comparative analysis on the urgent questions of the laws, which regulate the process of bankruptcy in the Republic of Lithuania and in the foreign countries, having an aim to define the purposes of the process of bankruptcy in Lithuania, the gaps of legal regulation, the mistakes of judicial practice, and to offer possible solutions of the above-mentioned problem matters.

Bankroto teisinius santykius reguliuojančius teisės aktus galima laikyti vienais iš svarbiausių aktų, reguliuojančių ūkio subjektų tarpusavio santykius rinkos ekonomikos sąlygomis. Visų pirma, kiekvienos įmonės bankrotas yra susijęs su daugelio kreditorių reikalavimais, todėl bankrutavusios įmonės likvidavimas daro tiesioginę įtaką visai valstybėje vykstančiai civilinei apyvartai. Antra, koncentruotai, operatyviai ir ekonomiškai vykdomas bankroto procesas užtikrina ne tik bankrutuojančios įmonės skolininkės kreditorių, bet ir jos pačios bei valstybės socialinių interesų apsaugą. Bankroto bylų nagrinėjimo sudėtingumą lemia dažna teisės aktų, reglamentuojančių bankroto teisinius santykius, kaita, poreikis ginti viešąjį interesą, taip pat specifinė bankroto proceso struktūra. Todėl, nagrinėjant bankroto bylas teisme iškylanti problematika ir jos įveikimo būdai yra labai aktualūs. Šio mokslinio tyrimo objektas - bankroto teisiniai santykiai bei bankroto bylų nagrinėjimo teisme ypatumai, bankroto procedūrų istorinė kilmė, raida, teisinė prigimtis, tikslai bei paskirtis. Darbe siekiama kompleksiškai ištirti bankroto bylų nagrinėjimo teisme ypatumus, surasti esamus bankroto santykių teisinio reglamentavimo trūkumus ir pateikti jų tobulinimo pasiūlymus ir rekomendacijas; analizuojamos bankroto proceso ištakos ir raida (bankroto proceso užuomazgos romėnų teisėje, bankroto proceso raida viduramžiais, naujaisiais ir naujausiais laikais, Lietuvos bankroto procedūrų raidai)... [toliau žr. visą tekstą] / Legal acts governing bankruptcy legal relationships may be considered amongst the most important legislation that regulates mutual relationships between economic entities under market economy conditions. First of all, bankruptcy of any company is associated with numerous requirements of the creditors, that why liquidation of a bankrupted enterprise makes a direct impact on civil turnover in process of the state. Second, bankruptcy proceedings executed in an intense, effective and economical manner ensure protection not only of the interests of creditors of the enterprise-debtor that is under bankruptcy but also the interests of the enterprise itself and social interests of the state. Complexity of bankruptcy cases’ investigation is reasoned by frequent change of legal acts ruling bankruptcy legal relationships, the need to protect public interest, specific structure of bankruptcy procedure. Because of the listed reasons research of bankruptcy procedure becomes extremely vital. The object of this research – bankruptcy legal relationships and specific features of judicial investigation of bankruptcy cases, historical origin, development, legal origin, objectives and the essence of bankruptcy procedures. This research seeks to study in a complex manner specific features of investigation of bankruptcy cases in courts, to detect drawbacks of the existing legal regulations and to make proposals and recommendations for their improvement. Also the author of this research analyses... [to full text]

The lack of clarity of Canadian insolvency legislation with respect to the treatment of environmental claims has left Canadian courts wondering whether they should advance the public order policies embodied in the environmental legislation or promote creditors' interests and the private relief afforded by bankruptcy. This thesis examines the state of the law on the question and provides a critical assessment of the legislation and the relevant case law. The author points to the flaws of the legislation and its judicial interpretation, while uncovering the underlying reasons for the existence of such a confused body of jurisprudence. Building on these findings, the author proposes a reform of the insolvency legislation that would uphold the protection of the environment as a fundamental value in Canadian society.

Thesis (LL. M.)--University of Toronto, 2004. / Adviser: Anthony Duggan.

Universiẗat, Diss.--Tübingen, 2007. / Includes bibliographical references (p. 450-471).

Zugleich: Diss. regensburg, 2008. / Literaturverz.