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Bankruptcy Law and the Canadian Experience: An Economic Appraisal

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Author Info
Jocelyn Martel
Abstract

The present paper offers an overview of the Canadian bankruptcy system and looks at the different roles a bankruptcy law should play--that is avoiding a common property problem, respecting pre-bankruptcy entitlements, and increasing the flow of information between all parties in order to eliminate inefficient firms. Statistical evidence on the use of liquidation and reorganization procedures and on the characteristics of firms using each procedure are supplied. Finally, the author looks at the rationale and the possible impact of some proposed amendments to the Canadian Bankruptcy Act.

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File URL: http://economics.ca/cgi/jab?journal=cpp&view=v17n1/CPPv17n1p052.pdf
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Publisher Info
Article provided by University of Toronto Press in its journal Canadian Public Policy.

Volume (Year): 17 (1991)
Issue (Month): 1 (March)
Pages: 52-63
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Handle: RePEc:cpp:issued:v:17:y:1991:i:1:p:52-63

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References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:

  1. Golbe, Devra L., 1988. "Risk-taking by firms near bankruptcy," Economics Letters, Elsevier, vol. 28(1), pages 75-79. [Downloadable!] (restricted)
  2. Schwartz, Alan., . "Security Interests and Bankruptcy Priorities: A Review of Current Theories," Working Papers 334, California Institute of Technology, Division of the Humanities and Social Sciences. [Downloadable!]
  3. Webb, David C, 1987. "The Importance of Incomplete Information in Explaining the Existence of Costly Bankruptcy," Economica, London School of Economics and Political Science, vol. 54(215), pages 279-88, August. [Downloadable!] (restricted)
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Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Jocelyn Martel, 1994. "Commercial Bankruptcy and Financial Reorganization in Canada," CIRANO Papers 94c-02, CIRANO. [Downloadable!]
  2. Jocelyn Martel, 1996. "Solutions au stress financier : Un survol de la littérature," CIRANO Working Papers 96s-03, CIRANO. [Downloadable!]
  3. Jocelyn Martel, 1995. "Signaling in Financial Reorganization: Theory and Evidence from Canada," CIRANO Working Papers 95s-34, CIRANO. [Downloadable!]
Statistics
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This page was last updated on 2009-12-9.

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