IPeconomist Blog

The bankruptcy process can be thought of as a set of laws providing for the regulated transfer of debtor’s assets to creditors in order to settle claims.  Consequently, the debtor’s assets and liabilities must be valued, in a mutually and legally satisfactory way, to arrive at the appropriate transfer ratio between the parties.  […Intangible assets…] are typically unique and have few, if any, organized secondary markets which can provide arm’s length prices to establish values as they do for financial assets.