Essec\Faculty\Model\Contribution {#2216
  #_index: "academ_contributions"
  #_id: "2572"
  #_source: array:26 [
    "id" => "2572"
    "slug" => "tax-claims-government-priority-absolute-priority-and-the-resolution-of-financial-distress"
    "yearMonth" => "2016-10"
    "year" => "2016"
    "title" => "Tax claims, government priority, absolute priority and the resolution of financial distress"
    "description" => "FISHER, T.C.G., MARTEL, J. et GAVIOUS, I. (2016). Tax claims, government priority, absolute priority and the resolution of financial distress. <i>International Review of Law and Economics</i>, 48, pp. 50-58."
    "authors" => array:3 [
      0 => array:3 [
        "name" => "MARTEL Jocelyn"
        "bid" => "B00000350"
        "slug" => "martel-jocelyn"
      ]
      1 => array:1 [
        "name" => "FISHER Timothy C. G."
      ]
      2 => array:1 [
        "name" => "GAVIOUS Ilanit"
      ]
    ]
    "ouvrage" => ""
    "keywords" => array:3 [
      0 => "Créances fiscales"
      1 => "Priorité absolue"
      2 => "Réorganisation"
    ]
    "updatedAt" => "2021-09-24 10:33:27"
    "publicationUrl" => "https://doi.org/10.1016/j.irle.2016.08.003"
    "publicationInfo" => array:3 [
      "pages" => "50-58"
      "volume" => "48"
      "number" => null
    ]
    "type" => array:2 [
      "fr" => "Articles"
      "en" => "Journal articles"
    ]
    "support_type" => array:2 [
      "fr" => "Revue scientifique"
      "en" => "Scientific journal"
    ]
    "countries" => array:2 [
      "fr" => null
      "en" => null
    ]
    "abstract" => array:2 [
      "fr" => "Cet article propose un cadre théorique permettant d'expliquer les incitations pour une entreprise insolvable à tirer avantage de la nature "soft-touch" des créances gouvernementales dans le seul but d'acheter du temps avant la réorganisation, comportement qualifié de "claims substitution". Il est démontré qu'une déviation de la règle de priorité absolue réduit ce type d'incitation et que la priorité stricte pour les créances gouvernementales est économiquement efficace. Finalement, l'article offre une discussion sur les implications de ces résultats pour une réforme de la loi sur la faillite, en particulier en ce qui concerne la priorité des créances fiscales lors d'une procédure de faillite et l'application de la règle de priorité absolue."
      "en" => "We present a model of an insolvent firm that may take advantage of a `soft-touch' government creditor in order to buy time before filing for reorganization, behavior we refer to as `claims substitution.' We show that deviations from absolute priority reduce the incentive for claims substitution and that strict government priority is economically efficient. We discuss the implications of our findings for bankruptcy law reform, especially with respect to the priority of tax claims in bankruptcy and the enforcement of absolute priority."
    ]
    "authors_fields" => array:2 [
      "fr" => "Finance"
      "en" => "Finance"
    ]
    "indexedAt" => "2024-11-21T10:21:50.000Z"
    "docTitle" => "Tax claims, government priority, absolute priority and the resolution of financial distress"
    "docSurtitle" => "Journal articles"
    "authorNames" => "<a href="/cv/martel-jocelyn">MARTEL Jocelyn</a>, FISHER Timothy C. G., GAVIOUS Ilanit"
    "docDescription" => "<span class="document-property-authors">MARTEL Jocelyn, FISHER Timothy C. G., GAVIOUS Ilanit</span><br><span class="document-property-authors_fields">Finance</span> | <span class="document-property-year">2016</span>"
    "keywordList" => "<a href="#">Créances fiscales</a>, <a href="#">Priorité absolue</a>, <a href="#">Réorganisation</a>"
    "docPreview" => "<b>Tax claims, government priority, absolute priority and the resolution of financial distress</b><br><span>2016-10 | Journal articles </span>"
    "docType" => "research"
    "publicationLink" => "<a href="https://doi.org/10.1016/j.irle.2016.08.003" target="_blank">Tax claims, government priority, absolute priority and the resolution of financial distress</a>"
  ]
  +lang: "en"
  +"_type": "_doc"
  +"_score": 9.064929
  +"parent": null
}