kaal:claim:1908473-026

Sequential triggers invite manipulation of the triggering events and abusive practices such as asset stripping near bankruptcy, a risk the contract or corporate charter can counter by imposing a mandatory holding period on contingent capital securities.

manipulation of the sequential triggering events and abusive practices, such as asset stripping in the vicinity of bankruptcy. To avoid such practices, the CCS contract or the charter of the corporation could require a mandatory holding period for CCS.

Wulf A. Kaal, Christoph Henkel, Contingent Capital with Sequential Triggers (2011), IV.A. First Trigger: Debt-Equity Conversion, p. 35
https://ssrn.com/abstract=1908473 · source PDF

Wulf A. Kaal, Christoph Henkel, Contingent Capital with Sequential Triggers (2011). SSRN: https://ssrn.com/abstract=1908473

• Holding period could be extended until after bankruptcy

failuresupport: arguedfailure: trigger-manipulation-asset-strippingfamily: jurisdictional-conflictprivate-funds

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