When Do Creditor Rights Work
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When Do Creditor Rights Work
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Author : Siddharth Sharma
language : en
Publisher: World Bank Publications
Release Date : 2007
When Do Creditor Rights Work written by Siddharth Sharma and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 2007 with categories.
When Do Creditor Rights Work
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Author : Mehnaz Safavian
language : en
Publisher:
Release Date : 2012
When Do Creditor Rights Work written by Mehnaz Safavian and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012 with categories.
Creditor-friendly laws are generally associated with more credit to the private sector and deeper financial markets. But laws mean little if they are not upheld in the courts. The authors hypothesize that the effectiveness of creditor rights is strongly linked to the efficiency of contract enforcement. This hypothesis is tested using firm level data on 27 European countries in 2002 and 2005. The analysis finds that firms have more access to bank credit in countries with better creditor rights, but the association between creditor rights and bank credit is much weaker in countries with inefficient courts. Exploiting the panel dimension of the data and the fact that creditor rights change over time, the authors show that the effect of a change in creditor rights on change in bank credit increases with court enforcement. In particular, a unit increase in the creditor rights index will increase the share of bank loans in firm investment by 27 percent in a country at the 10th percentile of the enforcement time distribution (Lithuania). However, the increase will be only 7 percent in a country at the 80th percentile of this distribution (Kyrgyzstan). Legal protections of creditors and efficient courts are strong complements.
Effective Enforcement Of Creditors Rights
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Author : Masahisa Deguchi
language : en
Publisher: Springer Nature
Release Date : 2021-11-27
Effective Enforcement Of Creditors Rights written by Masahisa Deguchi and has been published by Springer Nature this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-11-27 with Law categories.
The problem of enforcing a money judgment exists in every legal system in the world, but the methods and orientation vary significantly. Effective enforcement proceedings are crucial to ensure full access to justice for creditors. Complete and full knowledge of the debtors’ assets is crucial to choose the appropriate enforcement measure. But each legal system must balance the creditors’ rights to an efficient enforcement with the debtors’ rights. The wide differences between enforcement proceedings mirror the way each society tries to find a balance between confronting rights and interests. This book explores and compares how different legal systems approach these issues with a focus on the discovery of debtors’ assets, which is a common problem for enforcement and execution proceedings in almost every jurisdiction. This is the first book to compare enforcement proceedings around the world and presents a variety of information and country reports from leading experts from four continents. It represents the joint work of academic and legal authorities from Germany, Japan, Korea, France, the UK, Switzerland, Austria, Spain, Poland, Russia, Greece, North America, Taiwan, Brazil, Argentina, Chile, and the EU.
Creditor Rights And The Public Interest
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Author : Janis Pearl Sarra
language : en
Publisher:
Release Date : 2003
Creditor Rights And The Public Interest written by Janis Pearl Sarra and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2003 with Law categories.
Creditor Rights and the Public Interest supports the greater representation of non-traditional creditors in the process of insolvency restructuring in Canada, concentrating particularly on restructuring under the federal Companies' Creditors' Arrangement Act (CCAA). Arguing in favour of the representation of such non-traditional creditors as workers, consumers, trade suppliers, and local governments, Janis Sarra describes the existing process of addressing their interests, analyzes four case studies that focus on non-creditor groups, and compares the Canadian approach to that of several other countries, such as Germany, France, and the United States. Sarra draws on a comprehensive body of academic literature that covers a broad range of issues--insolvency theory, corporate governance theory, legislative history, and bankruptcy and insolvency practice. She further surveys the relevant legislation and supplements her analysis with insights drawn from extensive primary research of court records and personal interviews with lawyers, judges, and government officials. Creditor Rights and the Public Interest ultimately illustrates the way in which the concept of the public interest can be utilized to foreground the concerns of non-traditional stakeholders. Sarra provides a coherent account of the justification for recognizing these creditors by situating insolvency law in a legal regime that realizes a duty to maximize all of the interests and investments at stake in the corporation. In an academic field where scholarship is currently scarce, Sarra's text will be a welcome contribution.
Bankruptcy Around The World
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Author : Stijn Claessens
language : en
Publisher: World Bank Publications
Release Date : 2002
Bankruptcy Around The World written by Stijn Claessens and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 2002 with Bankruptcy categories.
Corporate Finance Law
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Author : Louise Gullifer
language : en
Publisher: Bloomsbury Publishing
Release Date : 2015-10-22
Corporate Finance Law written by Louise Gullifer and has been published by Bloomsbury Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-10-22 with Law categories.
The second edition of this acclaimed book continues to provide a discussion of key theoretical and policy issues in corporate finance law. Fully updated, it reflects developments in the law and the markets in the continuing aftermath of the Global Financial Crisis. One of its distinctive features is that it gives equal coverage to both the equity and debt sides of corporate finance law, and seeks, where possible, to compare the two. This book covers a broad range of topics regarding the debt and equity-raising choices of companies of all sizes, from SMEs to the largest publicly traded enterprises, and the mechanisms by which those providing capital are protected. Each chapter analyses the present law critically so as to enable the reader to understand the difficulties, risks and tensions in this area of law, and the attempts made by the legislature and the courts, as well as the parties involved, to deal with them. This book will be of interest to practitioners, academics and students engaged in the practice and study of corporate finance law.
The Economics Of Bankruptcy Reform
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Author : Philippe Aghion
language : en
Publisher:
Release Date : 1992
The Economics Of Bankruptcy Reform written by Philippe Aghion and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1992 with Bankruptcy categories.
We propose a new bankruptcy procedure. Initially, a firm's debts are cancelled, and cash and non-cash bids are solicited for the 'new" (all-equity) firm. Former claimants are given shares, or options to buy shares, in the new firm on the basis of absolute priority. Options are exercised once the bids are in. Finally, a shareholder vote is taken to select one of the bids. In essence, our procedure is a variant on the U.S. Chapter 7, in which non-cash bids are possible; this allows for reorganization. We believe our scheme is superior to Chapter 11 since it is simpler, quicker, market-based, avoids conflicts, and places appropriate discipline on management.
Orderly And Effective Insolvency Procedures
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Author : International Monetary Fund
language : en
Publisher: International Monetary Fund
Release Date : 1999-08-02
Orderly And Effective Insolvency Procedures written by International Monetary Fund and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 1999-08-02 with Business & Economics categories.
Written by IMF's Legal Department, this book outlines the key issues involved in designing and implementing orderly and effective insolvency procedures, which play a critical role in fostering growth and competitiveness and may also assist in the prevention and resolution of financial crises. The book draws on lessons learned from firsthand experience by some of the IMF's 182 member countries. It includes an analysis of the major policy choices that countries need to address when designing an insolvency system, a discussion of the advantages and disadvantages of these choices, and a number of specific recommendations.
The Logic And Limits Of Bankruptcy Law
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Author : Thomas H. Jackson
language : en
Publisher: Beard Books
Release Date : 2001
The Logic And Limits Of Bankruptcy Law written by Thomas H. Jackson and has been published by Beard Books this book supported file pdf, txt, epub, kindle and other format this book has been release on 2001 with Law categories.
A careful analysis of the fundamentals of bankruptcy law.
Commencement Of Insolvency Proceedings
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Author : Dennis Faber
language : en
Publisher: OUP Oxford
Release Date : 2012-03-29
Commencement Of Insolvency Proceedings written by Dennis Faber and has been published by OUP Oxford this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-03-29 with Law categories.
This is the first volume in the new Oxford International and Comparative Insolvency Law Series. The series will provide a comparative analysis of all important aspects of insolvency proceedings and domestic insolvency laws in the main economically developed and emerging countries, starting with the opening of proceedings. This volume addresses the commencement of insolvency proceedings over business debtors and the conditions in which they may arise. It explains the types of proceedings available and the participants involved. The book also analyses the effect of such action on the various players, assets and liabilities concerned. The detail and uniform nature of the treatment of topics helps practitioners to understand specific features of a foreign legal system and effectively brief foreign counsel. For all readers, the book provides access, through analysis in the detailed commentary, to material that was previously only available in a foreign language. Most major legal families (including various mixed legal systems) are covered to reflect the needs of the international insolvency community and intergovernmental organizations. This is the only book that offers a thorough comparative analysis of existing domestic insolvency laws concerning the opening of insolvency proceedings in the main economically developed and emerging countries.