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Working Papers (2000), ESSEC Business School

The Effect of Bankruptcy Reform on the Number of Reorganization Proposals

MARTEL Jocelyn , FISHER T.C.G.

One of the major aims of the 1992 reform to bankruptcy law in Canada was to increase the number of reorganization proposals. The purpose of this paper is to analyze the number of reorganization proposals filings in Toronto and Montreal before and after bankruptcy reform to see whether the reform has had its intended effect. Controlling for a variety of macroeconomic factors that also influence the number of reorganization proposals, we find that bankruptcy reform has doubled the number of corporate reorganization proposals filed in Montreal and more than doubled the number filed in Torondo.

MARTEL, J. and FISHER, T.C.G. (2000). The Effect of Bankruptcy Reform on the Number of Reorganization Proposals. ESSEC Business School.