kaal:claim:1908473-040

Strategic maneuvering by creditors before a bankruptcy filing or during plan negotiations could distort the incentive structure the sequential trigger proposal depends on.

Source quote, verbatim

Strategic maneuvering of creditors prior to filing for bankruptcy protection or during the negotiations leading up to plan confirmation could distort the herein-proposed incentives for constituents.

From

Wulf A. Kaal, Christoph Henkel, Contingent Capital with Sequential Triggers (2011), VI. QUASI-PREPARATION STAGE BEFORE BANKRUPTCY, p. 48
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

Strategic behavior can arise equally at the conversion stage and at the voting rights increase

Classification

failuresupport: arguedfailure: strategic-maneuvering-distortionfamily: trigger-design-failurerisk-and-incentivescontingent-capital

Verify

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Attestation record: colloquium/attestations/afb4cfea9aa10be1...json
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