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Abstract for:

A New Bankruptcy Procedure that Uses Multiple Auctions - (Now published in 'European Economics Review', vol.41(3/5), 1997, pp.461-473.)

Oliver  Hart,  R  La Porta Drago,  F  Lopez-de-Silanes,  John  Moore,  October 1996
Paper No' TE/1996/312:
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Is hard copy/paper copy available? NO - Paper Copy Out Of Print.
This Paper is published under the following series: Theoretical Economics
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Abstract:

We propose a new bankruptcy procedure that makes use of multiple auctions. The procedure is designed to work even when capital markets do not function well (for example, in developing economies, or in economies in transition) - although it can be used in all economies.