Hallo,

I’m a student of Laws in Germany and just busy in writing my bachelor exam. The theme of it is the “Debt-for-Equity Swap in a law comparison between the German law and the US law”.

Therefore I have some short questions and I hope You would be so kindly to give me some informations.

My questions are:

1) If in a chapter 11-reorganization a debt-for-equity swap is proposed, how will the claims that should be converted into equity be valued? With the going concern-value or liquidation value or nominal value?

2) Do you have any tip for some US-literature about this theme, especially the valuation question?

Many thanks for your support!

Have a nice Christmas and God bless you!