"The authors study the effect of reorganization costs on the efficiency of bankruptcy laws. They develop a simple model … businesses and reorganizing viable ones. The authors test the model using the Colombian bankruptcy reform of 1999. Using data … from 1,924 firms filing for bankruptcy between 1996 and 2003, they find that the pre-reform reorganization proceeding was …

integrated into the country's broader legal and commercial system, providing a liquidation proceeding whose average duration … lacks clear provisions on how to deal with subordination debt agreements and financial contracts in bankruptcy. Provisions … Bankruptcy Commission, a body meeting the requirements of an independent regulatory institution. The Bill on Second Capital …

and efficient commercial insolvency law. It is also recommends the necessary amendments to the Bankruptcy Act and … Bankruptcy Rules to take care of both traders, non-traders and companies insolvencies, and, the harmonious and uniform recovery …

have reformed their bankruptcy codes since Second World War, and over half of them have done so during the last decade. One … experienced in Pakistan, provide an opportunity for bankruptcy reform, as the potential employment impact often places the issue …

. The insolvency process in Lithuania has been almost exclusively one of liquidation, plagued by delay and procedural …, who are overloaded and poorly equipped to deal with bankruptcy cases, especially rehabilitations. The administrators … remains to be done, the national association of bankruptcy administrators is working to improve licensing standards and to …

allowed subject to posting of appropriate bond. In addition; the Bankruptcy Law should be further amended to include mandatory …

perceived as lacking objectivity and sufficient expertise to manage complex restructurings. Liquidation proceedings take 1 …