"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 …

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 …

, 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 …