MARC Record from Library of Congress

LEADER: 02459cam a22003377a 4500
001 2006618109
003 DLC
005 20130601093430.0
007 cr |||||||||||
008 061012s2006 ilu sb f000 0 eng
010 $a 2006618109
040 $aDLC$cDLC
043 $an-us---
050 00 $aHG2401
100 1 $aBliss, Robert R.
245 10 $aU.S. corporate and bank insolvency regimes$h[electronic resource] :$ban economic comparison and evaluation /$cRobert R. Bliss and George G. Kaufman.
246 3 $aUS corporate and bank insolvency regimes
260 $a[Chicago, Ill.] :$bFederal Reserve Bank of Chicago,$c[2006]
490 1 $aWorking paper series ;$vWP-2006-1
538 $aSystem requirements: Adobe Acrobat Reader.
538 $aMode of access: World Wide Web.
500 $aTitle from PDF file as viewed on 10/12/2006.
530 $aAlso available in print.
504 $aIncludes bibliographical references.
520 3 $a"In the U.S., the insolvency resolution of most corporations is governed by the federal bankruptcy code and is administered by special bankruptcy courts. Most large corporate bankruptcies are resolved under Chapter 11 reorganization proceedings. However, commercial bank insolvencies are governed by the Federal Deposit Insurance Act and are administered by the FDIC. These two resolution processes--corporate bankruptcy and bank receiverships--differ in a number of significant ways, including the type of proceeding (judicial versus administrative); the rights of managers, stockholders and creditors in the proceedings; the explicit and implicit goals of the resolution; the prioritization of creditors' claims; the costs of administration; and the timeliness of creditor payments. These differences derive from perceptions that "banks are special." This paper elucidates these differences, explores the effectiveness of the procedural differences in achieving the stated goals, and considers the potential economic consequences of the different structures."--Federal Reserve Bank of Chicago web site.
650 0 $aBankruptcy$zUnited States.
650 0 $aBank failures$zUnited States.
700 1 $aKaufman, George G.
710 2 $aFederal Reserve Bank of Chicago.$bResearch Department.
830 0 $aWorking paper series (Federal Reserve Bank of Chicago. Research Department : Online) ;$vWP-2006-1.
856 40 $uhttp://www.chicagofed.org/economic_research_and_data/wp_abstract.cfm?pubsID=757