European Bankruptcy Laws: Implications for Corporations Facing Financial Distress

Kevin Kaiser

Financial Management, 1996, vol. 25, issue 3

Abstract: The United Kingdom, United States, France and Germany provide differing approaches for resolving the problems facing a viable liquidity-constrained firm. The four national bankruptcy codes are guided by different underlying philosophies and national policies, which lead to significant differences in their approaches to dealing with financial distress.

Date: 1996
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