Bankruptcy Financing

Online
Essay
The Hertz Maneuver (and the Limits of Bankruptcy Law)
Anthony J. Casey
Professor, The University of Chicago School of Law.
Joshua C. Macey
Assistant Professor, The University of Chicago School of Law.

We wish to thank Ken Ayotte, Vince Buccola, Douglas Baird, Jared Ellias, Saul Levmore, Alan Schwartz, and David Skeel for helpful comments. We also thank Julian Gale, Silvia Moreno, and Leonor Suarez for excellent research assistance. The Richard Weil Faculty Research Fund and the Paul H. Leffmann Fund provided generous support.

On June 11, 2020, the Hertz Corporation introduced a new strategy for bankruptcy financing.

Absolute Priority Bankruptcy Bankruptcy Financing Equity Hertz Relative Priority SEC

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