kaal:claim:1908473-039

Contingent capital is more efficient than prepackaged plans or preplan sales because it provides a resolution mechanism outside formal proceedings and free of their restrictions, since the Bankruptcy Code does not regulate conversion or the use of increased voting rights.

CCS could be more efficient because CCS could provide the basis for a resolution mechanism outside of formal resolution proceedings and without the restrictions of prepackaged plans or preplan sales. The Bankruptcy Code does not regulate CCS conversion or the use of increased voting rights.

Wulf A. Kaal, Christoph Henkel, Contingent Capital with Sequential Triggers (2011), VI.B. Contingent Capital in Prepackaged Bankruptcy Plans and Preplan Sales, p. 54
https://ssrn.com/abstract=1908473 · source PDF

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

• Contingent capital securities are for the most part privately negotiated contracts

mechanismsupport: arguedrisk-and-incentiveseconomics

The quote above is an exact substring of the source PDF, whose sha256 is 9d578dac663357529edd1f6453fcfe69bdc59ac882408d9edfde5a4c2916befa. Extraction method: pdf-text-layer.
Attestation record: colloquium/attestations/c3013e3ea1b57949...json
Verify the binding yourself: curl -s https://wulfkaal.github.io/claims/1908473-039.md | sha256sum