363 Sales - Publications - Faculty & Research

March 2010 (Revised May 2010)
Case

Chrysler's Sale to Fiat

By: C. Fritz Foley, Lena G. Goldberg and Linnea Meyer

This case provides students with an opportunity to analyze the restructuring of Chrysler in the midst of the financial crisis of 2008–2009. It describes how debtors can use section 363 of the U.S. Bankruptcy Code to sell assets quickly. It allows for discussion of who... View Details

Keywords: Mergers and Acquisitions; Restructuring; Financial Crisis; Insolvency and Bankruptcy; Laws and Statutes; Business and Government Relations; Sales; Auto Industry; United States

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Article

Do the Right Firms Survive Bankruptcy?

By: Samuel Antill

In U.S. Chapter 11 bankruptcy cases, firms are either reorganized, acquired, or liquidated. I show that decisions to liquidate often reduce creditor recovery, costing creditors billions of dollars every year. I exploit the within-district random assignment of... View Details

Keywords: Bankruptcy; Bankruptcy Reorganization; Recovery Rate; Structural Estimation; Roy Model; 363 Sales; Insolvency and Bankruptcy; Governing Rules, Regulations, and Reforms

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22 Jun 2010
First Look

First Look: June 22

issues concerning 363 sales and the appropriate role of government entities in restructurings. Purchase this case:http://cb.hbsp.harvard.edu/cb/product/210022-PDF-ENG TeamLease: Putting India to Work (Il)... View Details

Keywords: Martha Lagace

28 May 2020
Research & Ideas

Coronavirus Could Create a 'Bankruptcy Pandemic'

filing for bankruptcy in the courts often results in a forced wind-down of the business. Management is replaced by a trustee or administrator (who is often an accountant or lawyer by training), the firm’s assets are sold off, and proceeds from asset View Details

Keywords: by Dina Gerdeman; Financial Services; Banking

20 Jul 2021
Research & Ideas

Bankruptcy Spells Death for Too Many Businesses

reorganization, managers can steer firms into liquidations that harm junior creditors, employees, and customers. Under Section 363 of the US Bankruptcy Code, judges may grant that request without creditor consent if managers present a... View Details

Keywords: by Rachel Layne

25 Mar 2013
Research & Ideas

How Chapter 11 Saved the US Economy

More recently, Section 363 sales played a key role in some of the largest and most complex bankruptcies of the financial crisis, including General Motors and Lehman Brothers. “The amount of debt that needed... View Details

Keywords: by Kim Girard; Financial Services

07 Aug 2007
First Look

First Look: August 7, 2007

providing information for students on CWA's history, the nature of Section 363 auctions, and the bidders who were involved in the process. Purchase this case: http://www.hbsp.harvard.edu/b01/en/common/item_detail.jhtml?id=908004... View Details