caa a22 4500 467949441 CHVBK 20180405193740.0 cr unu---uuuuu 170328e20041201xx s 000 0 eng 10.1007/s10657-004-4274-1 doi (NATIONALLICENCE)springer-10.1007/s10657-004-4274-1 (NATIONALLICENCE)springer-10.1023/B:EJLE.0000049198.54001.58 On the Design of Efficient Priority Rules for Secured Creditors: Empirical Evidence from A Change in Law [Elektronische Daten] [Clas Bergström, Theodore Eisenberg, Stefan Sundgren] This article assesses the effect of a reduction in secured creditor priority on distributions and administrative costs in liquidating bankruptcy cases by reporting the first empirical study of the effect of a priority change. Priority reform had redistributive effects in liquidating bankruptcy. As expected, average payments to general unsecured creditors were significantly higher after the reform than before the reform and payments to secured creditors decreased. Reform did not increase the size of the pie to be distributed in bankruptcy. Nor did it increase the direct costs of bankruptcy. Kluwer Academic Publishers, 2004 bankruptcy law nationallicence secured creditors nationallicence priority rules nationallicence Bergström Clas Finance Department, Stockholm School of Economics, Sweden aut Eisenberg Theodore Henry Allen Mark Professor of Law, Cornell Law School, Myron Taylor Hall, 14853, Ithaca, NY, USA aut Sundgren Stefan Stockholm School of Economics, Cornell Law School, Swedish School of Economics and Business Administration, Sweden aut European Journal of Law and Economics Kluwer Academic Publishers 18/3(2004-12-01), 273-297 0929-1261 18:3<273 2004 18 10657 https://doi.org/10.1007/s10657-004-4274-1 text/html Onlinezugriff via DOI 1 research-article jats NATIONALLICENCE 856 40 https://doi.org/10.1007/s10657-004-4274-1 text/html Onlinezugriff via DOI NATIONALLICENCE 700 1- Bergström Clas Finance Department, Stockholm School of Economics, Sweden aut NATIONALLICENCE 700 1- Sundgren Stefan Stockholm School of Economics, Cornell Law School, Swedish School of Economics and Business Administration, Sweden aut NATIONALLICENCE 700 1- Eisenberg Theodore Henry Allen Mark Professor of Law, Cornell Law School, Myron Taylor Hall, 14853, Ithaca, NY, USA aut NATIONALLICENCE 773 0- European Journal of Law and Economics Kluwer Academic Publishers 18/3(2004-12-01), 273-297 0929-1261 18:3<273 2004 18 10657 NATIONALLICENCE 856 40 https://doi.org/10.1023/B:EJLE.0000049198.54001.58 text/html Onlinezugriff via DOI NATIONALLICENCE 700 1- Sundgren Stefan Stockholm School of Economics, Cornell Law School, Swedish School of Economics and Business Administration, USA aut NATIONALLICENCE 700 1- Bergström Clas Stockholm School of Economics, Finance Department, USA aut Metadata rights reserved Springer special CC-BY-NC licence nationallicence BK010053 XK010053 XK010000 NATIONALLICENCE NATIONALLICENCE NL-springer NATIONALLICENCE NATIONALLICENCE NL-springer