Effective Enforcement Of Creditors Rights
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| Author | : Masahisa Deguchi |
| Publisher | : Springer |
| Total Pages | : 0 |
| Release | : 2022-11-29 |
| Genre | : Law |
| ISBN | : 9789811656118 |
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.
| Author | : Siddharth Sharma |
| Publisher | : World Bank Publications |
| Total Pages | : 48 |
| Release | : 2007 |
| Genre | : Access to Finance |
| ISBN | : |
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.
| Author | : Masahisa Deguchi |
| Publisher | : Springer Nature |
| Total Pages | : 282 |
| Release | : 2021-11-27 |
| Genre | : Law |
| ISBN | : 9811656096 |
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.
| Author | : International Monetary Fund |
| Publisher | : International Monetary Fund |
| Total Pages | : 108 |
| Release | : 1999-08-02 |
| Genre | : Business & Economics |
| ISBN | : 9781557758200 |
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 | : Stijn Claessens |
| Publisher | : World Bank Publications |
| Total Pages | : 40 |
| Release | : 2002 |
| Genre | : Bankruptcy |
| ISBN | : |
| Author | : United States |
| Publisher | : |
| Total Pages | : 1628 |
| Release | : 1995 |
| Genre | : Law |
| ISBN | : |
| Author | : United Nations Commission on International Trade Law |
| Publisher | : |
| Total Pages | : 96 |
| Release | : 2016 |
| Genre | : Law |
| ISBN | : |
The "Model Law" deals with security interests in all types of tangible and intangible movable property, such as goods, receivables, bank accounts, negotiable instruments, negotiable documents,
| Author | : International Monetary Fund. Monetary and Capital Markets Department |
| Publisher | : International Monetary Fund |
| Total Pages | : 77 |
| Release | : 2009-04-17 |
| Genre | : Business & Economics |
| ISBN | : 1498336051 |
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.
| Author | : Masahisa Deguchi |
| Publisher | : |
| Total Pages | : 0 |
| Release | : 2022 |
| Genre | : |
| ISBN | : 9789811656101 |
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.
| Author | : José Garrido |
| Publisher | : International Monetary Fund |
| Total Pages | : 21 |
| Release | : 2016-07-11 |
| Genre | : Business & Economics |
| ISBN | : 1475570244 |
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.
