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18-4 Asset Auctions in Sweden In Sweden, firms that fail to meet their debt obligations are immediatelyauctioned off to the highest bidder. (There is no

18-4 Asset Auctions in Sweden

In Sweden, firms that fail to meet their debt obligations are immediatelyauctioned off to the highest bidder. (There is no reorganization through Chapter 11 bankruptcy.) The current managers are often the high bidders for the company. Why?

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