Corporate Bankruptcy and Restructuring

2.0 credits · GM

This course develops the framework for evaluating and managing firms' assets and liabilities in financial distress, including periods of formal bankruptcy and restructuring. It takes the perspective of managers as well as that of capital market participants - e.g., distressed-debt investors, analysts, legal professionals, regulators - that monitor and evaluate corporate policies in distress situations. The course will do so going beyond standard textbook coverage, making sense of practice and available research on financial distress, bankruptcy and reorganizations, looking at what professionals think and act, as well as in-depth study of real-world situations. All of these elements are integrated and analyzed with rigorous method. Our ultimate goal is to understand the objectives different economic agents mean to achieve given the institutional constraints they face in distress situations. (MHA-EL)