kaal:claim:1908473-035

Contingent capital holders, as former creditors whose main interest is realizing their claims, have a natural interest in continuity and are therefore likely to support incumbent management after conversion.

Source quote, verbatim

CCS holders as former creditors will have a natural interest in consistency. It is their main interest to realize their claims. CCS holders are therefore likely to support incumbent management.

From

Wulf A. Kaal, Christoph Henkel, Contingent Capital with Sequential Triggers (2011), VI.A. Debtor in Possession and Creditors' Committees, p. 50
https://ssrn.com/abstract=1908473 · source PDF

Cite as

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

Holds when

Analogy to the debtor in possession concept under Chapter 11

Classification

mechanismsupport: arguedrisk-and-incentives

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