Orderly and Effective Insolvency Procedures PDF Download

Author: International Monetary Fund
Publisher: International Monetary Fund
ISBN: 9781557758200
Category : Business & Economics
Languages : en
Pages : 108

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Book Description
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: International Monetary Fund Staff
Publisher:
ISBN: 9781475510546
Category :
Languages : fr
Pages :

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Book Description
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: José Garrido
Publisher: International Monetary Fund
ISBN: 1475570244
Category : Business & Economics
Languages : en
Pages : 21

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Book Description
Italian banks are burdened with high levels of nonperforming loans, the cleanup of which depends in important part on the efficiency of insolvency and enforcement processes. Traditionally, these processes in Italy have taken very long, hampering the timely cleanup of balance sheets. In response, the authorities have legislated a number of measures. This paper explores the recent insolvency and enforcement reforms and the remaining challenges. These reforms introduce important positive changes that are expected to yield full benefits over the medium to long term. The efficacy of the reforms, including to deal with the current stock of high nonperforming loans, can be enhanced by introducing effective out-of-court enforcement mechanisms, supplemented by a more intensive use of informal and hybrid debt-restructuring solutions. Moreover, there is an urgent need to rationalize the system, which over the years has become very complex and intricate.

Author: International Monetary Fund. Monetary and Capital Markets Department
Publisher: International Monetary Fund
ISBN: 1498336051
Category : Business & Economics
Languages : en
Pages : 77

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Book Description
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: United Nations Commission on International Trade Law
Publisher: United Nations Publications
ISBN: 9789211337365
Category : Law
Languages : en
Pages : 384

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Book Description
This publication seeks to assist the establishment of a legal framework for an efficient and effective national corporate insolvency regime which strikes a balance between the financial difficulties of debtors and the interests of creditors and other relevant parties, as well as addressing public policy concerns. The text of this draft legislative guide was adopted by UNCITRAL in June 2004 and approved by UN General Assembly resolution 59/40 in December 2004.

Author: Mr.Federico J Diez
Publisher: International Monetary Fund
ISBN: 1513574566
Category : Business & Economics
Languages : en
Pages : 29

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Book Description
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: Virginia Skidmore Rutledge
Publisher: International Monetary Fund
ISBN: 1475503903
Category : Business & Economics
Languages : en
Pages : 27

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Book Description
Staff Discussion Notes showcase the latest policy-related analysis and research being developed by individual IMF staff and are published to elicit comment and to further debate. These papers are generally brief and written in nontechnical language, and so are aimed at a broad audience interested in economic policy issues. This Web-only series replaced Staff Position Notes in January 2011.

Author: Jason Chuah
Publisher: Edward Elgar Publishing
ISBN: 1803923423
Category : Law
Languages : en
Pages : 673

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Book Description
Executory Contracts in Insolvency Law offers a unique and wide-ranging transnational study of the treatment of ongoing contracts when one of the parties becomes insolvent. This second edition not only updates existing material, but also extends the analysis to key developing economies and restructuring hubs. Written by experts with extensive practical and scholarly knowledge in the field, this is a cutting-edge investigation into the philosophies and rationales behind the different policy choices adopted by more than 30 jurisdictions across the globe.

Author: Leon Trakman
Publisher: Taylor & Francis
ISBN: 1000631761
Category : Law
Languages : en
Pages : 207

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Book Description
There is increasing regulatory interdependence amongst Central, East and South East Asia, European and North American financial markets, and these markets account for over one-third of the world’s population and global financial markets. As these Asian markets become more integral to global financial economy, more cohesive, compatible and integrated insolvency and restructuring laws are essential. This two-volume work reviews why we should internationalise current cross-border insolvency and how we could restructure laws to address inadequacies. The two-volume work evaluates international regulatory reforms directed at detecting and managing cross-border insolvency and restructuring crises across the entire economy including financial markets. The authors call for schemes of arrangements and letters of comfort to be formally accepted as international legal tools. The work also assesses recent, but as yet unregulated developments in financial agreements, namely, the use of close-out netting provisions. They are a significant preventative legal mechanism, protecting debtors, creditors and employees among others, before a declaration of insolvency. The book discusses international arbitration, data protection and artificial intelligence in cross-border insolvency and restructuring. Finally, it seeks a meaningful balance between self-regulation through financial contracts and other party practices, and regulation imposed by governments and international financial regulators. This extensive work will be a useful reference for legal practitioners, policy makers and scholars working on financial regulation and international financial laws.

Author: José Garrido
Publisher: International Monetary Fund
ISBN: 1498300960
Category : Business & Economics
Languages : en
Pages : 44

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Book Description
To date, the use of empirical data in insolvency law analysis has been sporadic. This paper provides a conceptual framework for the use of data to assess the effectiveness and efficiency of insolvency systems. The paper analyzes the existing sources of data on insolvency proceedings, including general insolvency statistics, judicial statistics, statistics of insolvency regulators and other sources, and advocates for the design of special data collection mechanisms and statistics to conduct detailed assessments of insolvency systems and to assist in the design of legal reforms.