Principles for Effective Insolvency and Creditor/Debtor Regimes, 2021 Edition
Effective creditor and debtor rights and insolvency systems are an important element of financial system stability. The World Bank Group accordingly has been working with partner organizations to develop principles for insolvency and creditor and d...
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| Language: | English |
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World Bank, Washington, DC
2021
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| Online Access: | http://documents.worldbank.org/curated/en/391341619072648570/Principles-for-Effective-Insolvency-and-Creditor-and-Debtor-Regimes http://hdl.handle.net/10986/35506 |
| Summary: | Effective creditor and debtor rights and
insolvency systems are an important element of financial
system stability. The World Bank Group accordingly has been
working with partner organizations to develop principles for
insolvency and creditor and debtor rights systems. The
principles for effective insolvency and creditor and debtor
regimes are a distillation of international best practice on
design aspects of these systems, emphasizing contextual,
integrated solutions and the policy choices involved in
developing those solutions. The principles have been
designed as a broad-spectrum assessment tool to assist
countries in their efforts to evaluate and improve core
aspects of their commercial law systems that are fundamental
to a sound investment climate, and to promote commerce and
economic growth. Efficient, reliable, and transparent
creditor and debtor regimes and insolvency systems are of
key importance for the reallocation of productive resources
in the corporate sector, for investor confidence, and for
forward-looking corporate restructuring. |
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