Latin American Insolvency Systems: A Comparative Assessment

Latin American Insolvency Systems: A Comparative Assessment

by Malcolm Rowat, Jose Astigarraga
     
 
'Modern society has eliminated the inhumane debtors' prisons for handling the insolvent debtor and in their stead have enacted benign modern laws in the area of bankruptcy. Unscrupulous merchants now use these benign laws for fraudulent purposes.'

Based on case studies in Argentina, Brazil, Mexico, and Venezuela, this is the first publication to provide

Overview

'Modern society has eliminated the inhumane debtors' prisons for handling the insolvent debtor and in their stead have enacted benign modern laws in the area of bankruptcy. Unscrupulous merchants now use these benign laws for fraudulent purposes.'

Based on case studies in Argentina, Brazil, Mexico, and Venezuela, this is the first publication to provide recommendations about the important legal and institutional issues that are involved in bankruptcy reform in a critical region of the global economy. The authors note that effective bankruptcy policy balances several requirements for the conduct of a stable, successful economy. For example, it might be in the greatest interests to all parties if a company is given an opportunity to restructure and make use of the scarce resources remaining in its possession. On the other hand, inefficient firms, especially those that have long survived only on state subsidies, may need to fail in order to free space in the market for more efficient, better-managed companies. Finally, there are the needs to enforce loan contracts and provide an equitable system of debt collection.

Product Details

ISBN-13:
9780821343999
Publisher:
World Bank Publications
Publication date:
04/01/1999
Series:
World Bank Technical Papers , #433
Pages:
103
Product dimensions:
8.40(w) x 10.68(h) x 0.24(d)

Related Subjects

Meet the Author

Customer Reviews

Average Review:

Write a Review

and post it to your social network

     

Most Helpful Customer Reviews

See all customer reviews >