Get Latin American Insolvency Systems: A Comparative Assessment PDF

By Malcolm Rowat

ISBN-10: 058524605X

ISBN-13: 9780585246055

ISBN-10: 0821343998

ISBN-13: 9780821343999

"Modern society has eradicated the inhumane borrowers' prisons for dealing with the bancrupt debtor and of their stead have enacted benign glossy legislation within the region of financial disaster. Unscrupulous retailers now use those benign legislation for fraudulent purposes." in keeping with case experiences in Argentina, Brazil, Mexico, and Venezuela, this is often the 1st ebook to supply techniques in regards to the very important criminal and institutional matters which are fascinated by financial disaster reform in a severe sector of the worldwide economic climate. The authors notice that powerful financial disaster coverage balances numerous necessities for the behavior of a good, winning financial system. for instance, it would be within the maximum pursuits to all events if a firm is given a chance to restructure and utilize the scarce assets last in its ownership. nevertheless, inefficient enterprises, specially those who have lengthy survived simply on country subsidies, may have to fail so one can unfastened house out there for extra effective, better-managed businesses. ultimately, there are the desires to implement personal loan contracts and supply an equitable method of debt assortment.

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Extra resources for Latin American Insolvency Systems: A Comparative Assessment (World Bank Technical Paper, No. 433)

Example text

Foster Transparency 25 5(a). Review and Revise Current Statutes to Require Meaningful and Effective Disclosure of Pertinent Information 25 Page iv 5(b). Enhance the Power of Trustees and Other Stakeholders to Investigate Meaningfully the Debtor's Past Dealings 26 5(c). Enhance the Power of Trustees to Recover Assets Wrongfully Transferred 26 6. Facilitate Preservation of Going Concern Value Before and During Bankruptcy 27 6(a). Better Define the Standard to be Satisfied Before Insolvency Relief Can Be Granted 27 6(b).

433) Includes bibliographical references.  Title. 807'8dc21 98-48419 CIP Page iii TABLE OF CONTENTS Foreword vi Acknowledgments vii Abstract viii Executive Summary x I. Introduction 1 II. Bankruptcy Policy 2 III. Seven Threshold Observations about the Insolvency Environment in Latin America 8 IV. Ten Recommendations 13 1. Judicial Reform 14 l(a). Design and Implement a Program to Train the Existing Judiciary on the Law of Insolvency 16 l(b). Design and Implement a Program to Train the Existing Judiciary on Business Concepts 16 2.

Enhance the Power of Trustees to Recover Assets Wrongfully Transferred 26 6. Facilitate Preservation of Going Concern Value Before and During Bankruptcy 27 6(a). Better Define the Standard to be Satisfied Before Insolvency Relief Can Be Granted 27 6(b). Permit and Encourage Insolvency Relief Before it is Too Late 27 6(c). Fix the Reachback Date for Avoiding Transactions 28 6(d). Revise Avoidance Statutes to Facilitate Pre-petition Resolutions 30 6(e). Provide Framework for Granting of Credit During Insolvency Proceedings Where Warranted 30 6(f).

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Latin American Insolvency Systems: A Comparative Assessment (World Bank Technical Paper, No. 433) by Malcolm Rowat


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