After Bankruptcy: Can Ugly Ducklings Turn into Swans?

Allen Michel, Israel Shaked and Christopher McHugh

Financial Analysts Journal, 1998, vol. 54, issue 3, 31-40

Abstract: Before they emerge from bankruptcy, U.S. debtor companies are required to provide financial and operational projections to the Bankruptcy Court. The projections are of interest to numerous parties—analysts, advisors, creditors, and securityholders—but the results of this study suggest that the projections are frequently (and often, greatly) overstated.

Date: 1998
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DOI: 10.2469/faj.v54.n3.2178

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