Saving Entrepreneurs, Saving Enterprises
Micro and small enterprise (MSME) insolvency is particularly likely to impact not only the business, but also the personal and family life of the owner-operator(s) of such businesses, raising particular concerns that apply much less frequently in the context of corporate insolvency. This report refines and expands on the earlier deliberations of the Insolvency and Creditor or Debtor Regimes Task Force (ICR Task Force) regarding the optimal approaches for treating MSME insolvency. As a matter of terminology, it should be stressed that the term MSME in this report is intended to cover both individual natural persons and juridical business entities, unless specifically stated.This means that the size of an MSME differs from country to country and even industry to industry, making comparisons between jurisdictions and global standard-setting difficult. The scope of this report is designed to be nonprescriptive and dynamic across countries and contexts. Accordingly, this report aims to consider rescue and restructuring for all viable MSMEs, with the objective of preserving individual entrepreneurial initiative, including in the context of liquidation, and of preserving businesses that can continue to operate and add value in an economy. The final section of the report starts the process of examining the ICR Principles in light of the proposals made in this report.
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Format: | Report biblioteca |
Language: | English |
Published: |
World Bank, Washington, DC
2018-09-17
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Subjects: | INSOLVENCY, MICROENTERPRISE, MICROFINANCE, SMALL AND MEDIUM ENTERPRISES, ACCESS TO FINANCE, NATIONAL BANKRUPTCY REVIEW COMMISSION, MSME FINANCE, |
Online Access: | http://documents.worldbank.org/curated/en/989581537265261393/Saving-Entrepreneurs-Saving-Enterprises-Proposals-on-the-Treatment-of-MSME-Insolvency https://hdl.handle.net/10986/30474 |
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Summary: | Micro and small enterprise (MSME)
insolvency is particularly likely to impact not only the
business, but also the personal and family life of the
owner-operator(s) of such businesses, raising particular
concerns that apply much less frequently in the context of
corporate insolvency. This report refines and expands on the
earlier deliberations of the Insolvency and Creditor or
Debtor Regimes Task Force (ICR Task Force) regarding the
optimal approaches for treating MSME insolvency. As a matter
of terminology, it should be stressed that the term MSME in
this report is intended to cover both individual natural
persons and juridical business entities, unless specifically
stated.This means that the size of an MSME differs from
country to country and even industry to industry, making
comparisons between jurisdictions and global
standard-setting difficult. The scope of this report is
designed to be nonprescriptive and dynamic across countries
and contexts. Accordingly, this report aims to consider
rescue and restructuring for all viable MSMEs, with the
objective of preserving individual entrepreneurial
initiative, including in the context of liquidation, and of
preserving businesses that can continue to operate and add
value in an economy. The final section of the report starts
the process of examining the ICR Principles in light of the
proposals made in this report. |
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