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Author : Jason Allen
Publisher :
ISBN 13 :
Total Pages : 39 pages
Book Rating : 4.:/5 (953 download)
Download or read book The Impact of Bankruptcy Reform on Insolvency Choice and Consumer Credit written by Jason Allen and published by . This book was released on 2016 with total page 39 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author :
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (137 download)
Download or read book The Impact of Bankruptcy Reform on Insolvency Choice and Consumer Credit written by and published by . This book was released on 2016 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: To identify the impact of the 2009 BIA amendments on households' insolvency choices, we use administrative data on the population of insolvency filings in Canada and rely on a difference-in-differences (DiD) strategy to identify the av- erage treatment effect of the amendments on the choice of insolvency instrument for insolvent households. [...] The rationale of the 2009 BIA amendments was to "chan- nel more debtors into the simpler and more cost-effective consumer proposal scheme."11 The nature of the cost-effectiveness of Division II is both for borrowers and lenders. [...] We do not see much of a difference in the pre- and post-amendments levels of FBB in either the control or treatment groups.17 Table 2 shows the distribution of liabilities of all insolvencies for the regres- sion period for the control/treatment groups, before and after the amendments. [...] Third, utilization rates are approximately the same in the control and treatment groups before the change and both increase somewhat in the post- homes would in addition owe the difference between the recovered value of the house and the face value of the mortgage. [...] Next, we examine the impact of the amendments to the BIA on the fraction of insolvencies that are proposals relative to bankruptcy.
Author : Johanna Niemi
Publisher : Bloomsbury Publishing
ISBN 13 : 1847311032
Total Pages : 378 pages
Book Rating : 4.8/5 (473 download)
Download or read book Consumer Bankruptcy in Global Perspective written by Johanna Niemi and published by Bloomsbury Publishing. This book was released on 2003-11-27 with total page 378 pages. Available in PDF, EPUB and Kindle. Book excerpt: Consumer Bankruptcy and over-indebtedness is an emerging field throughout the world. This book provides a comparative appraisal of global developments in this area. It is one of the first book length publications focusing on comparative consumer bankruptcy and over-indebtedness. It combines theoretical and empirical studies of bankruptcy regimes and consumer credit in civilian and common law jurisdictions as well as exploring current reform trends. The book will be of interest to academics, policymakers and law reformers as well as to practitioners.
Author : Teresa A. Sullivan
Publisher : Oxford University Press, USA
ISBN 13 :
Total Pages : 392 pages
Book Rating : 4.F/5 ( download)
Download or read book As We Forgive Our Debtors written by Teresa A. Sullivan and published by Oxford University Press, USA. This book was released on 1989 with total page 392 pages. Available in PDF, EPUB and Kindle. Book excerpt: Bankruptcy in America is a booming business, with hundreds of thousands of ordinary Americans filing for bankruptcy each year. Is this dramatic growth a result of mushrooming debt or does it reflect a moral decline that permits the middle class to evade their debts? As We Forgive Our Debtors addresses these questions with hard empirical data drawn from bankruptcy court filings. The authors of this multidisciplinary study describe the law and the statistics in clear, nontechnical language, combining a thorough statistical description of the social and economic position of consumer bankrupts with human portraits of the debtors and creditors whose journeys have ended in bankruptcy court. Book jacket.
Author : Mr.Federico J Diez
Publisher : International Monetary Fund
ISBN 13 : 1513574566
Total Pages : 29 pages
Book Rating : 4.5/5 (135 download)
Download or read book Insolvency Prospects Among Small-and-Medium-Sized Enterprises in Advanced Economies written by Mr.Federico J Diez and published by International Monetary Fund. This book was released on 2021-04-02 with total page 29 pages. Available in PDF, EPUB and Kindle. Book excerpt: The COVID-19 pandemic has increased insolvency risks, especially among small and medium enterprises (SMEs), which are vastly overrepresented in hard-hit sectors. Without government intervention, even firms that are viable a priori could end up being liquidated—particularly in sectors characterized by labor-intensive technologies, threatening both macroeconomic and social stability. This staff discussion note assesses the impact of the pandemic on SME insolvency risks and policy options to address them. It quantifies the impact of weaker aggregate demand, changes in sectoral consumption patterns, and lockdowns on firm balance sheets and estimates the impact of a range of policy options, for a large sample of SMEs in (mostly) advanced economies.
Author : Günter Hörmann
Publisher :
ISBN 13 : 9783887221362
Total Pages : 656 pages
Book Rating : 4.2/5 (213 download)
Download or read book Consumer credit and consumer insolvency written by Günter Hörmann and published by . This book was released on 1986 with total page 656 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Stefania Albanesi
Publisher :
ISBN 13 :
Total Pages : 48 pages
Book Rating : 4.:/5 (97 download)
Download or read book Insolvency After the 2005 Bankruptcy Reform written by Stefania Albanesi and published by . This book was released on 2015 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt: Using a comprehensive panel data set on U.S. households, we study the effects of the 2005 Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA), the most substantive reform of personal bankruptcy in the United States since the Bankruptcy Reform Act of 1978. The 2005 legislation introduced a means test based on income to establish eligibility for Chapter 7 bankruptcy and increased the administrative requirements to file, leading to a rise in the opportunity cost and, especially, the financial cost of filing for bankruptcy. We study the effects of the reform on bankruptcy, insolvency, and foreclosure. We find that the reform caused a permanent drop in the Chapter 7 bankruptcy rate relative to pre-reform levels, due to the rise in filing costs associated with the reform, which can be interpreted as resulting from liquidity constraints. We find that the decline in bankruptcy filings resulted in a rise in the rate and persistence of insolvency as well as an increase in the rate of foreclosure. We find no evidence of a link between the decline in bankruptcy and a rise in the number of individuals who are current on their debt. We document that these effects are concentrated at the bottom of the income distribution, suggesting that the income means tests introduced by BAPCPA did not serve as an effective screening device. We show that insolvency is associated with worse financial outcomes than bankruptcy, as insolvent individuals have less access to new lines of credit and display lower credit scores than individuals who file for bankruptcy. Since bankruptcy filings declined much more for low income individuals, our findings suggest that BAPCPA may have removed an important form of relief from financial distress for this group.
Author : Philippe Aghion
Publisher :
ISBN 13 :
Total Pages : 78 pages
Book Rating : 4.3/5 ( download)
Download or read book The Economics of Bankruptcy Reform written by Philippe Aghion and published by . This book was released on 1992 with total page 78 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Author : International Monetary Fund
Publisher : International Monetary Fund
ISBN 13 : 9781557758200
Total Pages : 108 pages
Book Rating : 4.7/5 (582 download)
Download or read book Orderly and Effective Insolvency Procedures written by International Monetary Fund and published by International Monetary Fund. This book was released on 1999-08-02 with total page 108 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Author : Teresa A. Sullivan
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (82 download)
Download or read book As We Forgive Our Debtors written by Teresa A. Sullivan and published by . This book was released on 1989 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : David A. Skeel Jr.
Publisher : Princeton University Press
ISBN 13 : 1400828503
Total Pages : 296 pages
Book Rating : 4.4/5 (8 download)
Download or read book Debt's Dominion written by David A. Skeel Jr. and published by Princeton University Press. This book was released on 2014-04-24 with total page 296 pages. Available in PDF, EPUB and Kindle. Book excerpt: Bankruptcy in America, in stark contrast to its status in most other countries, typically signifies not a debtor's last gasp but an opportunity to catch one's breath and recoup. Why has the nation's legal system evolved to allow both corporate and individual debtors greater control over their fate than imaginable elsewhere? Masterfully probing the political dynamics behind this question, David Skeel here provides the first complete account of the remarkable journey American bankruptcy law has taken from its beginnings in 1800, when Congress lifted the country's first bankruptcy code right out of English law, to the present day. Skeel shows that the confluence of three forces that emerged over many years--an organized creditor lobby, pro-debtor ideological currents, and an increasingly powerful bankruptcy bar--explains the distinctive contours of American bankruptcy law. Their interplay, he argues in clear, inviting prose, has seen efforts to legislate bankruptcy become a compelling battle royale between bankers and lawyers--one in which the bankers recently seem to have gained the upper hand. Skeel demonstrates, for example, that a fiercely divided bankruptcy commission and the 1994 Republican takeover of Congress have yielded the recent, ideologically charged battles over consumer bankruptcy. The uniqueness of American bankruptcy has often been noted, but it has never been explained. As different as twenty-first century America is from the horse-and-buggy era origins of our bankruptcy laws, Skeel shows that the same political factors continue to shape our unique response to financial distress.
Author : Ronald Davis
Publisher : Oxford University Press, USA
ISBN 13 : 9780198799931
Total Pages : 226 pages
Book Rating : 4.7/5 (999 download)
Download or read book Micro, Small, and Medium Enterprise Insolvency written by Ronald Davis and published by Oxford University Press, USA. This book was released on 2018 with total page 226 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book reconsiders the treatment of distressed Micro, Small and Medium Enterprises (MSMEs). Recognising that insolvency systems traditionally suit larger enterprises, and that they do not always apply neatly to smaller entities, the book proposes a 'modular' approach designed to facilitate the treatment of smaller enterprises in distress.
Author : Ishaan Madaan
Publisher : Kluwer Law International B.V.
ISBN 13 : 9403545410
Total Pages : 310 pages
Book Rating : 4.4/5 (35 download)
Download or read book Crossroads of Insolvency and Arbitration written by Ishaan Madaan and published by Kluwer Law International B.V.. This book was released on 2022-06-09 with total page 310 pages. Available in PDF, EPUB and Kindle. Book excerpt: Comparative Law Yearbook of International Business, Volume 43A Each year, a Special Issue of the Comparative Law Yearbook of International Business is published under the auspices of the Center for International Legal Studies. The 2022 Special Issue addresses the intersection of arbitration and insolvency. This junction has been made all the more topical and intense by the adverse effects of Covid-19 on a broad range of businesses’ finances and supply chains, and by the still growing recourse to arbitration (and other forms of alternative dispute resolution) to resolve business disputes. A diverse pool of contributors gives a broad range of perspectives from Europe (Italy, Lithuania, the United Kingdom), the Middle East (Palestine, UAE), Asia (India), Africa (Zimbabwe), North America (Canada) and public international law on several common issues posed when one or more parties to an arbitration (agreement) are faced with a financial crisis – or vice versa when an overindebted party is expected to resolve claims that it has or faces, not in State courts but before “private” adjudicators. This Special Issue is aimed at bringing to fore the multitude of issues that exist at the convergences of the domains—a step toward better understanding the intricacies and the complexities that arise in different jurisdictions, and how stakeholders react. To highlight just a few of the aspects addressed: the law to be applied by arbitral tribunals in regard to insolvency issues; insolvency arbitrations and tax claims; how the representatives of bankrupt entities may participate in international investment claims; avoidance of transactions and anti-suit injunctions; and the uneasy but unavoidable cohabitation of insolvency and arbitration in the Middle East and North Africa Region.
Author : José Garrido
Publisher : International Monetary Fund
ISBN 13 : 1484396227
Total Pages : 44 pages
Book Rating : 4.4/5 (843 download)
Download or read book The Use of Data in Assessing and Designing Insolvency Systems written by José Garrido and published by International Monetary Fund. This book was released on 2019-02-04 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt: To date, the use of empirical data in insolvency law analysis has been sporadic. This paper provides a conceptual framework for the use of data to assess the effectiveness and efficiency of insolvency systems. The paper analyzes the existing sources of data on insolvency proceedings, including general insolvency statistics, judicial statistics, statistics of insolvency regulators and other sources, and advocates for the design of special data collection mechanisms and statistics to conduct detailed assessments of insolvency systems and to assist in the design of legal reforms.
Author : José Garrido
Publisher : International Monetary Fund
ISBN 13 : 1475570244
Total Pages : 21 pages
Book Rating : 4.4/5 (755 download)
Download or read book Insolvency and Enforcement Reforms in Italy written by José Garrido and published by International Monetary Fund. This book was released on 2016-07-11 with total page 21 pages. Available in PDF, EPUB and Kindle. Book excerpt: Italian banks are burdened with high levels of nonperforming loans, the cleanup of which depends in important part on the efficiency of insolvency and enforcement processes. Traditionally, these processes in Italy have taken very long, hampering the timely cleanup of balance sheets. In response, the authorities have legislated a number of measures. This paper explores the recent insolvency and enforcement reforms and the remaining challenges. These reforms introduce important positive changes that are expected to yield full benefits over the medium to long term. The efficacy of the reforms, including to deal with the current stock of high nonperforming loans, can be enhanced by introducing effective out-of-court enforcement mechanisms, supplemented by a more intensive use of informal and hybrid debt-restructuring solutions. Moreover, there is an urgent need to rationalize the system, which over the years has become very complex and intricate.
Author : World Bank
Publisher : World Bank Publications
ISBN 13 : 1464814414
Total Pages : 241 pages
Book Rating : 4.4/5 (648 download)
Download or read book Doing Business 2020 written by World Bank and published by World Bank Publications. This book was released on 2019-11-21 with total page 241 pages. Available in PDF, EPUB and Kindle. Book excerpt: Seventeen in a series of annual reports comparing business regulation in 190 economies, Doing Business 2020 measures aspects of regulation affecting 10 areas of everyday business activity.
Author : International Monetary Fund. Monetary and Capital Markets Department
Publisher : International Monetary Fund
ISBN 13 : 1498336051
Total Pages : 77 pages
Book Rating : 4.4/5 (983 download)
Download or read book An Overview of the Legal, Institutional, and Regulatory Framework for Bank Insolvency written by International Monetary Fund. Monetary and Capital Markets Department and published by International Monetary Fund. This book was released on 2009-04-17 with total page 77 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study provides an overview of the legal, institutional, and regulatory framework that countries should put in place to address cases of bank insolvency. It is primarily intended to inform the work of the staffs of the International Monetary Fund (IMF) and World Bank, and to provide guidance to their member countries.
