Faculty News
In a co-authored op-ed, Professor Marti Subrahmanyam explores the effects of a financial market phenomenon known as the empty creditor problem
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Excerpt from The Conversation -- "In September 2019, the 178-year-old global tour operator Thomas Cook “ceased trading with immediate effect.” The collateral damage associated with the liquidation was considerable: more than 20,000 employees without work, an estimated 600,000 travellers stranded around the world and repatriation and customer compensation costs north of 600 million British pounds, or almost $1 billion."
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