"The authors study the effect of reorganization costs on the efficiency of bankruptcy laws. They develop a simple model … law increased the efficiency of the bankruptcy system in Colombia. "--World Bank web site … businesses and reorganizing viable ones. The authors test the model using the Colombian bankruptcy reform of 1999. Using data …

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 …

and efficient commercial insolvency law. It is also recommends the necessary amendments to the Bankruptcy Act and …The Bank assessed the Mauritius insolvency and creditor rights systems pursuant to a joint IMF-World Bank initiative to … Insolvency and Creditor Rights Systems during 2002. The assessment team interviewed a cross section of country stakeholders …

The importance of a modern, binding and effective insolvency regime is undeniable. Nearly 90 countries around the world … have reformed their bankruptcy codes since Second World War, and over half of them have done so during the last decade. One … of the key aspects in the reform process is the delicate balance addressed by a modern insolvency system which encourages …

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