Vanderbilt Law Review Volume 54 Issue 2 Issue 2 - March 2001 Article 1 3-2001 The Failure of Public Company Bankruptcies in Delaware and New York: Empirical Evidence of a "Race to the Bottom" Lynn M. LoPucki Sara D. Kalin Follow this and additional works at: https://scholarship.law.vanderbilt.edu/vlr Part of the Bankruptcy Law Commons Recommended Citation Lynn M. LoPucki and Sara D. Kalin, The Failure of Public Company Bankruptcies in Delaware and New York: Empirical Evidence of a "Race to the Bottom", 54 Vanderbilt Law Review 231 (2001) Available at: https://scholarship.law.vanderbilt.edu/vlr/vol54/iss2/1 This Article is brought to you for free and open access by Scholarship@Vanderbilt Law. It has been accepted for inclusion in Vanderbilt Law Review by an authorized editor of Scholarship@Vanderbilt Law. For more information, please contact
[email protected]. The Failure of Public Company Bankruptcies in Delaware and New York: Empirical Evidence of a "Race to the Bottom" Lynn M. LoPucki SaraD. Kalin INTRODUCTION ....................... *......................................... 232 I. METHODOLOGY .................................................................. 237 A. The Companies Studied .......................................... 237 B. Calculationof the Refiling Rate .............................. 238 C. Conditions of Comparability................................... 239 D. Calculationof the Background Rate ....................... 241 E. Data Sources and Collection Procedures................. 243 II. FINDINGS ..........................................................................