The importance of a modern, binding and effective insolvency regime is undeniable. Nearly 90 countries around the world … of the key aspects in the reform process is the delicate balance addressed by a modern insolvency system which encourages … of insolvent companies high on the policy agenda. The three fundamental goals of any insolvency law are: 1) transparency …

. The insolvency process in Lithuania has been almost exclusively one of liquidation, plagued by delay and procedural … obstacles. A new insolvency law was adopted in July 2001, bringing to three the number of insolvency laws currently in effect …. The process may be aided by the developing training guides and programs. Regulation of insolvency remains fragmented and …

infrastructure, and its implementation supporting debtor-creditor relationships, corporate insolvency and credit risk management, and … resolution practices, including among others, members of the Inter-Agency Commission for the preparation of a new insolvency law …

In 1995, Argentina enacted a new modern insolvency law that substantially improved corporate liquidations and … difficult in practice; (2) the unified insolvency regime causes severe problems in judicial interpretation of many legal … provisions, causing court congestion with insolvency cases; (3) an uneven playing field discourages rehabilitation; (4) a lack of …

The legal and institutional framework governing creditor rights and insolvency proceedings in Chile reasonably complies … enjoying such instruments use ordinary proceedings whose duration is even longer (3 to 5 years). Insolvency legislation is …, however, is 2 to 3 years. The Insolvency Law also governs judicial reorganization proceedings but classification of creditors …