The notion of compulsory debt clemency has come full circle during the past five millennia. This brief paper surveys this progression over three relatively distinct periods. In the first period, rulers in ancient Sumer and Babylon imposed periodic debt amnesties to maintain social stability,...

This article advances detailed proposals for a European Personal Insolvency Directive as part of the European Commission's ongoing insolvency initiative. The Commission has been struggling with "soft" coordination of insolvency proceedings under the divergent national laws in the EU since 2000,...