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When Do Creditor Rights Work
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Book Synopsis When Do Creditor Rights Work? by : Siddharth Sharma
Download or read book When Do Creditor Rights Work? written by Siddharth Sharma and published by World Bank Publications. This book was released on 2007 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt: Abstract: 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.
Book Synopsis When Do Creditor Rights Work? by : Mehnaz Safavian
Download or read book When Do Creditor Rights Work? written by Mehnaz Safavian and published by . This book was released on 2012 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis When Do Creditor Rights Work? by : Siddharth Sharma
Download or read book When Do Creditor Rights Work? written by Siddharth Sharma and published by World Bank Publications. This book was released on 2007 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Creditor Rights and the Public Interest by : Janis Pearl Sarra
Download or read book Creditor Rights and the Public Interest written by Janis Pearl Sarra and published by . This book was released on 2003 with total page 352 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Download or read book Surviving Debt written by and published by . This book was released on 2024 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Norton Creditors' Rights Handbook by :
Download or read book Norton Creditors' Rights Handbook written by and published by . This book was released on 1999 with total page 642 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Research Handbook on Secured Financing of Commercial Transactions by : Frédérique Dahan
Download or read book Research Handbook on Secured Financing of Commercial Transactions written by Frédérique Dahan and published by . This book was released on 2015-06-26 with total page 528 pages. Available in PDF, EPUB and Kindle. Book excerpt: 'No single-volume publication brings together as many diverse and stimulating perspectives on secured financing law as does this EE Research Handbook. Its great strengths are asking hard questions and recognizing how difficult reform is. Contributors report on what works (and what doesn't), drawing on evidence from legal systems less often studied in this context (e.g., Brazil, Morocco). I cannot imagine a researcher in the field who would not be intrigued by analysis of such issues as access of women to secured financing, constraints Shari?ah places on use of security devices, and reasons for Russia's meandering path to modernization.' - Peter Winship, SMU Dedman School of Law, US
Book Synopsis United States Code by : United States
Download or read book United States Code written by United States and published by . This book was released on 2013 with total page 1506 pages. Available in PDF, EPUB and Kindle. Book excerpt: "The United States Code is the official codification of the general and permanent laws of the United States of America. The Code was first published in 1926, and a new edition of the code has been published every six years since 1934. The 2012 edition of the Code incorporates laws enacted through the One Hundred Twelfth Congress, Second Session, the last of which was signed by the President on January 15, 2013. It does not include laws of the One Hundred Thirteenth Congress, First Session, enacted between January 2, 2013, the date it convened, and January 15, 2013. By statutory authority this edition may be cited "U.S.C. 2012 ed." As adopted in 1926, the Code established prima facie the general and permanent laws of the United States. The underlying statutes reprinted in the Code remained in effect and controlled over the Code in case of any discrepancy. In 1947, Congress began enacting individual titles of the Code into positive law. When a title is enacted into positive law, the underlying statutes are repealed and the title then becomes legal evidence of the law. Currently, 26 of the 51 titles in the Code have been so enacted. These are identified in the table of titles near the beginning of each volume. The Law Revision Counsel of the House of Representatives continues to prepare legislation pursuant to 2 U.S.C. 285b to enact the remainder of the Code, on a title-by-title basis, into positive law. The 2012 edition of the Code was prepared and published under the supervision of Ralph V. Seep, Law Revision Counsel. Grateful acknowledgment is made of the contributions by all who helped in this work, particularly the staffs of the Office of the Law Revision Counsel and the Government Printing Office"--Preface.
Book Synopsis Creditors' Rights by : Alexander L. Paskay
Download or read book Creditors' Rights written by Alexander L. Paskay and published by Vandeplas Pub.. This book was released on 2006 with total page 976 pages. Available in PDF, EPUB and Kindle. Book excerpt: With the enactment of the Bankruptcy Abuse Prevention Consumer Protection Act of 2005 (BAPCPA) after 8 years of repeated attempts by Congress to completely revise the Bankruptcy Code, it became evident that the last Edition of this Book in 2002 had to be revised to reflect the monumental and far reaching changes brought about by this Legislation. This work is designed to give the reader a complete landscape of the revised bankruptcy jurisprudence. It does not cover the new Chapter 15, entitled "Ancillary and Other Cross-Border Cases" which also includes the Model Law on Cross-Border Insolvency. The new Chapter 15 replaced the former Section 304 of the Bankruptcy Code. In the event there are significant developments in the field of Cross-Border insolvencies, the subject might be explored later either in the form of a supplement to this work or by the treatment of this complex subject in a separate publication. While BAPCPA only became partially operative in April 2005, it is now fully operational since October 17, 2005. In addition to the revisions to the Bankruptcy Code by BAPCPA, since the last revision of this work, there has been a significant body of case law developed by the Supreme Court and by the Courts of Appeal, giving rise to an opportunity to update the cases cited in this work.
Book Synopsis Effective Enforcement of Creditors’ Rights by : Masahisa Deguchi
Download or read book Effective Enforcement of Creditors’ Rights written by Masahisa Deguchi and published by Springer Nature. This book was released on 2021-11-27 with total page 282 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Download or read book Defusing Default written by Marco Pagano and published by IDB. This book was released on 2001 with total page 376 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book uses a variety of perspectives and tools, including theoretical modeling and cross-country evidence, to examine the costs and benefits of protecting creditor rights. Case studies look at creditor protection in Argentina, Brazil, Chile, Costa Rica, Paraguay and Peru. The studies find that more effective judicial enforcement would help to make more credit available and improve the overall performance of the credit market. (Midwest).
Author :American Bar Association. House of Delegates Publisher :American Bar Association ISBN 13 :9781590318737 Total Pages :216 pages Book Rating :4.3/5 (187 download)
Book Synopsis Model Rules of Professional Conduct by : American Bar Association. House of Delegates
Download or read book Model Rules of Professional Conduct written by American Bar Association. House of Delegates and published by American Bar Association. This book was released on 2007 with total page 216 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Model Rules of Professional Conduct provides an up-to-date resource for information on legal ethics. Federal, state and local courts in all jurisdictions look to the Rules for guidance in solving lawyer malpractice cases, disciplinary actions, disqualification issues, sanctions questions and much more. In this volume, black-letter Rules of Professional Conduct are followed by numbered Comments that explain each Rule's purpose and provide suggestions for its practical application. The Rules will help you identify proper conduct in a variety of given situations, review those instances where discretionary action is possible, and define the nature of the relationship between you and your clients, colleagues and the courts.
Book Synopsis Debtor-creditor Law and Practice by : William Houston Brown
Download or read book Debtor-creditor Law and Practice written by William Houston Brown and published by . This book was released on 1998 with total page 874 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author :International Monetary Fund Publisher :International Monetary Fund ISBN 13 :9781557758200 Total Pages :108 pages Book Rating :4.7/5 (582 download)
Book Synopsis Orderly and Effective Insolvency Procedures by : International Monetary Fund
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.
Book Synopsis Do Creditor Rights Increase Employment Risk? by : Antonio Falato
Download or read book Do Creditor Rights Increase Employment Risk? written by Antonio Falato and published by . This book was released on 2014 with total page 54 pages. Available in PDF, EPUB and Kindle. Book excerpt: Financial contracts that mitigate incentive conflicts between firms and their creditors have a large impact on employees. Using a regression discontinuity design, we provide evidence that there are sharp and substantial employment cuts following loan covenant violations, when creditors gain rights to accelerate, restructure, or terminate a loan. The employment cuts following violations are larger at firms with higher financing frictions and when employees have weaker bargaining power. The cuts are also much larger in industry and macroeconomic downturns, when employees have fewer alternative job opportunities. In addition, union elections that create new labor bargaining units lead to higher loan spreads, consistent with creditors requiring compensation when employees have more bargaining power. Our analysis identifies a specific channel -- loan covenants -- through which financing frictions impact employment and offers direct evidence that binding financial contracts are an amplification mechanism of economic downturns.
Book Synopsis The Economics of Bankruptcy Reform by : Philippe Aghion
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.
Book Synopsis The Law of Debtors and Creditors by : Elizabeth Warren
Download or read book The Law of Debtors and Creditors written by Elizabeth Warren and published by Little Brown GBR. This book was released on 1991 with total page 936 pages. Available in PDF, EPUB and Kindle. Book excerpt:
