[PDF] Effective Insolvency Regimes eBook

Author : International Monetary Fund
Publisher : International Monetary Fund
Page : 108 pages
File Size : 31,28 MB
Release : 1999-08-02
Category : Business & Economics
ISBN : 9781557758200

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Written by IMF's Legal Department, this book outlines the key issues involved in designing and implementing orderly and effective insolvency procedures, which play a critical role in fostering growth and competitiveness and may also assist in the prevention and resolution of financial crises. The book draws on lessons learned from firsthand experience by some of the IMF's 182 member countries. It includes an analysis of the major policy choices that countries need to address when designing an insolvency system, a discussion of the advantages and disadvantages of these choices, and a number of specific recommendations.

Author : Weltbank
Publisher :
Page : pages
File Size : 47,34 MB
Release : 2021
Category :
ISBN :

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Effective creditor and debtor rights and insolvency systems are an important element of financial system stability. The World Bank Group accordingly has been working with partner organizations to develop principles for insolvency and creditor and debtor rights systems. The principles for effective insolvency and creditor and debtor regimes are a distillation of international best practice on design aspects of these systems, emphasizing contextual, integrated solutions and the policy choices involved in developing those solutions. The principles have been designed as a broad-spectrum assessment tool to assist countries in their efforts to evaluate and improve core aspects of their commercial law systems that are fundamental to a sound investment climate, and to promote commerce and economic growth. Efficient, reliable, and transparent creditor and debtor regimes and insolvency systems are of key importance for the reallocation of productive resources in the corporate sector, for investor confidence, and for forward-looking corporate restructuring.

Author : Mr.Federico J Diez
Publisher : International Monetary Fund
Page : 29 pages
File Size : 33,99 MB
Release : 2021-04-02
Category : Business & Economics
ISBN : 1513574566

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The COVID-19 pandemic has increased insolvency risks, especially among small and medium enterprises (SMEs), which are vastly overrepresented in hard-hit sectors. Without government intervention, even firms that are viable a priori could end up being liquidated—particularly in sectors characterized by labor-intensive technologies, threatening both macroeconomic and social stability. This staff discussion note assesses the impact of the pandemic on SME insolvency risks and policy options to address them. It quantifies the impact of weaker aggregate demand, changes in sectoral consumption patterns, and lockdowns on firm balance sheets and estimates the impact of a range of policy options, for a large sample of SMEs in (mostly) advanced economies.

Author : Ronald Davis
Publisher : Oxford University Press, USA
Page : 226 pages
File Size : 16,76 MB
Release : 2018
Category : Law
ISBN : 9780198799931

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This book reconsiders the treatment of distressed Micro, Small and Medium Enterprises (MSMEs). Recognising that insolvency systems traditionally suit larger enterprises, and that they do not always apply neatly to smaller entities, the book proposes a 'modular' approach designed to facilitate the treatment of smaller enterprises in distress.

Author : Nazim Belhocine
Publisher : International Monetary Fund
Page : 35 pages
File Size : 28,6 MB
Release : 2018-10-01
Category : Business & Economics
ISBN : 1484379179

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The modernization of Italy’s insolvency framework has been the subject of much interest in recent years, related not least to its role in potentially facilitating an efficient allocation of resources. A unique feature of Italy’s insolvency framework is a special regime for large enterprises known as “extraordinary administration”. This paper evaluates the merits of this special regime by assessing its efficacy and success in achieving its stated goals and comparing its features to international standards and best practices. It finds that the special regime tends to impose large costs on creditors and the state. The regime results, in most cases, in the sale of parts of the group, followed by a liquidation phase of the remaining assets which can take longer than the general regime, hindering legal certainty for creditors and more generally economic efficiency, investment and job creation. Based on international best practices and experience, consideration should be given to folding the special regime into the general insolvency regime, possibly with provisions to allow for state intervention in specific well-defined circumstances.

Author : International Monetary Fund. Monetary and Capital Markets Department
Publisher : International Monetary Fund
Page : 77 pages
File Size : 47,36 MB
Release : 2009-04-17
Category : Business & Economics
ISBN : 1498336051

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This study provides an overview of the legal, institutional, and regulatory framework that countries should put in place to address cases of bank insolvency. It is primarily intended to inform the work of the staffs of the International Monetary Fund (IMF) and World Bank, and to provide guidance to their member countries.

Author : Dubai Economic Council
Publisher : Springer
Page : 287 pages
File Size : 21,17 MB
Release : 2016-04-29
Category : Business & Economics
ISBN : 1137515759

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How an economy handles financial and business distress has a major impact on confidence in business, the availability of investment, the cost of credit, and economic growth. The financial crisis of 2007-2008 and its aftermath was a catalyst to legal reform in the field of bankruptcy and restructuring law and brought an added focus to the systemic threat of bank failure to the financial system. This book explores the general principles and practice of legal reform within bankruptcy. From a variety of specialists including practitioners, lawyers, bankers, accountants and judges from the United Arab Emirates, the UK and Singapore, it provides a variety of perspectives on the topic. Chapters include topics such as the 'Four Pillars of Regulatory Framework', the history and application of the UNCITRAL Model Law on Cross-Border Insolvency, the challenges for financial institutions and the treatment of the insolvency of natural persons. The book also offers a comparative study of Islamic Shari'ah principles with modern bankruptcy regimes, an analysis of bankruptcy in the UAE and an evaluation of the legal infrastructure of the DIFC Courts. The authors explore core questions surrounding bankruptcy law, including its ability to facilitate the turnaround of business, to enable efficient reallocation of capital, to provide coherent rules for entrepreneurs, investors, employees, and creditors, and to provide for both appropriate sanctions and for rehabilitation. ?

Author : Organisation for Economic Co-operation and Development
Publisher : Org. for Economic Cooperation & Development
Page : 288 pages
File Size : 19,10 MB
Release : 2007
Category : Business & Economics
ISBN : 9789264038325

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As Asian markets are now increasingly integrated in the world economy their domestic insolvency systems need to meet the expectations of international investors and lenders. Many Asian jurisdictions are responding by reforming insolvency laws, introducing new procedures and strengthening institutions, but others are much less active. These conference proceedings include papers showing how far various Asian countries have come in building effective and predictable insolvency systems and shows to what extent their systems provide confidence to investors and lenders.--Publisher's description.