Access

You are not currently logged in.

Access your personal account or get JSTOR access through your library or other institution:

login

Log in to your personal account or through your institution.

If you need an accessible version of this item please contact JSTOR User Support

The Importance of Deviations from the Absolute Priority Rule in Chapter 11 Bankruptcy Proceedings

Allan C. Eberhart and Lawrence A. Weiss
Financial Management
Vol. 27, No. 4 (Winter, 1998), pp. 106-110
Published by: Wiley on behalf of the Financial Management Association International
Stable URL: http://www.jstor.org/stable/3666416
Page Count: 5
  • Read Online (Free)
  • Subscribe ($19.50)
  • Cite this Item
If you need an accessible version of this item please contact JSTOR User Support
The Importance of Deviations from the Absolute Priority Rule in Chapter 11 Bankruptcy Proceedings
Preview not available

Abstract

Departures from the absolute priority rule (APR) in Chapter 11 bankruptcy proceedings have been of great interest to finance scholars throughout the 1990s. In a recent article, Beranek, Boehmer, and Smith (1996, BBS) criticize three of the early articles in this area (Franks and Torous, 1989, Eberhart, Moore, and Roenfeldt, 1990, and Weiss, 1990; collectively called the priority papers), among others. This paper reviews the BBS paper, explains why APR violations have been interesting to finance researchers, and documents the validity of the priority papers' focus.

Page Thumbnails

  • Thumbnail: Page 
[106]
    [106]
  • Thumbnail: Page 
107
    107
  • Thumbnail: Page 
108
    108
  • Thumbnail: Page 
109
    109
  • Thumbnail: Page 
110
    110