A Global View of Business Insolvency Systems

The purpose of this book is to provide a coherent overview of the insolvency systems found around the world. Its intended audience includes academics, judges, lawyers, and policymakers. Its focus is on businesses rather than natural persons. The authors hope to give the reader a sense of some of the principal approaches to managing the general default of a business debtor. The authors will discuss the nature of the costs and benefits arising from the various policy choices legislators have made. In the process, they will emphasize the close interrelationship among various elements of an insolvency regime so that these elements can be viewed as part of an overall system and not just as a series of policy decisions about particular rules, such as the method of initiation of an insolvency case or the balance struck in setting the boundaries of an avoidance power. The organization of the book reflects our view of insolvency laws as complete systems, including not only the 'insolvency' or 'bankruptcy' code of a jurisdiction but also closely related laws and the institutional framework in which those laws are applied. The book takes a systematic approach to a variety of topics related to credit and insolvency regulation. The functional analysis starts with the study of debt enforcement, continues with an examination of general corporate insolvency legislation, corporate rehabilitation proceedings, informal workouts, employee rights, judicial and administrative institutions, and the considerations key to cross-border insolvency proceedings.

Bibliographic Details

Main Authors:	Westbrook, Lawrence, Booth, Charles D., Paulus, Christoph G., Rajak, Harry
Format:	Publication biblioteca
Language:	en_US
Published:	Washington, DC: World Bank and Brill 2010
Subjects:	accountant, Accurate Information, administration of insolvency, administrative debt, Administrative Institutions, administrative procedure, administrative receiver, Assets, Assignment of Contracts, Bankruptcy, Bankruptcy Law, bankruptcy policy, bankruptcy proceeding, business debtor, Business Insolvency, Business Law, Cash Flow, Certified Public Accountants, Choice of Law, civil law, claim, Claimants, collateral, collection procedure, collusive bidding, Commencement of Insolvency, commencement of insolvency proceedings, commercial debtors, commercial law, Comparative Law, concealment of assets, contractual relationships, Corporate Governance, Corporate Insolvency, Corporate Insolvency Law, Corporate Insolvency Legislation, corporate law, Corporate reorganizations, court action, court judgments, court order, credit costs, credit system, Credit Systems, creditor, creditor interests, creditor rights, Creditor Rights Systems, Creditors, criminal law, Debt, debt collection, debt collection laws, debt-collection, Debtor, debtor's property, Debtors, debts, default judgment, defaults, Derivatives, Disposition, Dissenting Creditors, Effective Insolvency, enforcement mechanism, Enforcement of Judgments, enforcement of security, equality of distribution, Estate, Exempt Property, financial crisis, financial distress, Financial Institutions, Financial Responsibility, financial systems, flow of credit, foreign judgments, Foreign Proceedings, Fraud, free market, General Counsel, general observation, going concern, going concern value, going-concern, going-concern value, grace period, individual creditor, individual debt, Informal Workout, Informal Workouts, insolvency administrator, Insolvency Administrators, insolvency case, Insolvency Cases, Insolvency Code, insolvency court, insolvency field, Insolvency Law, insolvency law reform, Insolvency Laws, insolvency matters, insolvency practitioner, Insolvency Procedure, insolvency procedures, Insolvency Proceeding, insolvency proceedings, insolvency process, insolvency regime, insolvency regimes, insolvency regulation, insolvency remedy, insolvency system, Insolvency Systems, institutional framework, Insurance, Insurance Companies, intellectual property, international bankruptcy, international business, International Financial Law, international insolvency, international insolvency law, judgement, judges, judgment, judicial system, Judiciary, Jurisdiction, jurisdictions, legal proceeding, legal system, legal systems, Legislative Guide on Insolvency Law, legislative reforms, lender, lenders, leverage, lien, lien on property, Liens, Liquidation, liquidation case, liquidation proceeding, liquidation value, loan, Model Law, Model Law on Cross-Border Insolvency, mortgage, movable property, municipal insolvency, Negotiation, negotiations, nonpayment, nonpayment of debt, notice of insolvency, Officer Liability, operation of law, out-of-court workouts, Personal Liability, Personal Property, Personal Property Securities, Personal Property Security, Possession, Preferential Transfer, Preferential Transfers, Private Law, pro-creditor, pro-debtor, procedural law, property right, protection of creditor, provision of credit, public registry, Receivership, reform of insolvency law, Rehabilitation Proceedings, Remedies, reorganization, reorganization procedure, repossession, Restructuring Plan, rights of creditors, rights of debtors, sale of property, sale of the collateral, secure payment, seizure of property, specific asset, specific assets, Statutory Provisions, Title, transaction law, transaction laws, transactions Law, transactions laws, Transnational Insolvency Project, trustees, Uniform Commercial Code, unsecured credit, unsecured creditor, unsecured creditors, Unsecured Debt, valid claim, Wages,
Online Access:	http://hdl.handle.net/10986/13522
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