Essec\Faculty\Model\Contribution {#6196
  #_index: "academ_contributions"
  #_id: "10182"
  #_source: array:26 [
    "id" => "10182"
    "slug" => "does-it-matter-how-bankruptcy-judges-evaluate-the-creditors-best-interests-test"
    "yearMonth" => "2007-12"
    "year" => "2007"
    "title" => "Does it Matter how Bankruptcy Judges Evaluate the Creditors' Best-interests Test?"
    "description" => "FISHER, T. et MARTEL, J. (2007). Does it Matter how Bankruptcy Judges Evaluate the Creditors' Best-interests Test? <i>American Bankruptcy Law Journal</i>, 81(4), pp. 497-514."
    "authors" => array:2 [
      0 => array:3 [
        "name" => "MARTEL Jocelyn"
        "bid" => "B00000350"
        "slug" => "martel-jocelyn"
      ]
      1 => array:1 [
        "name" => "FISHER Timothy"
      ]
    ]
    "ouvrage" => ""
    "keywords" => array:4 [
      0 => "bankruptcy"
      1 => "liquidation"
      2 => "reorganization"
      3 => "best-interest test"
    ]
    "updatedAt" => "2021-07-13 14:31:29"
    "publicationUrl" => null
    "publicationInfo" => array:3 [
      "pages" => "497-514"
      "volume" => "81"
      "number" => "4"
    ]
    "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" => "Les procédures de réorganisation telles que prévues sous le Chapitre 11 ou la Loi canadienne sur l'insolvabilité exigent qu'un plan de réorganisation respecte le 'best-interests test", c'est à dire qu'il offre plus au créanciers que ce qu'ils obtiendraient dans le cadre d'une procédure de liquidation. Sur la base de données d'entreprises canadiennes en réorganisation, nous montrons que l'application stricte du test mène au même résultat qu'une règle qui consiste à comparer le paiement total en réorganisation à celui en liquidation. Un juge sur la faillite peu donc se baser sur cette simple règle plutôt que sur une règle plus complexe reflétant la contrainte de participation des créanciers."
      "en" => "Court-supervised reorganization procedures like Chapter 11 and the Canadian Bankruptcy and Insolvency Act require judges to consider a ¿best-interests test¿, i.e., to determine whether creditors are better-off under reorganization than liquidation. Using data on firms reorganizing in Canada, we show that evaluating the best-interests test strictly according to economic theory yields the same outcomes as a simple rule that compares the sum of payments under reorganization to a firm¿s liquidation value. We argue that bankruptcy judges need not be concerned with the economic details of the best-interests test; a simple rule will suffice."
    ]
    "authors_fields" => array:2 [
      "fr" => "Finance"
      "en" => "Finance"
    ]
    "indexedAt" => "2024-04-20T13:21:50.000Z"
    "docTitle" => "Does it Matter how Bankruptcy Judges Evaluate the Creditors' Best-interests Test?"
    "docSurtitle" => "Articles"
    "authorNames" => "<a href="/cv/martel-jocelyn">MARTEL Jocelyn</a>, FISHER Timothy"
    "docDescription" => "<span class="document-property-authors">MARTEL Jocelyn, FISHER Timothy</span><br><span class="document-property-authors_fields">Finance</span> | <span class="document-property-year">2007</span>"
    "keywordList" => "<a href="#">bankruptcy</a>, <a href="#">liquidation</a>, <a href="#">reorganization</a>, <a href="#">best-interest test</a>"
    "docPreview" => "<b>Does it Matter how Bankruptcy Judges Evaluate the Creditors' Best-interests Test?</b><br><span>2007-12 | Articles </span>"
    "docType" => "research"
    "publicationLink" => "<a href="#" target="_blank">Does it Matter how Bankruptcy Judges Evaluate the Creditors' Best-interests Test?</a>"
  ]
  +lang: "fr"
  +"_type": "_doc"
  +"_score": 9.01018
  +"parent": null
}