Bankruptcy Reform-Breaking the Court Logjam in Colombia
Many developing countries suffer from logjam in the courts, a condition that tends to reduce the effectiveness of bankruptcy law in relieving financial distress. Colombia's bankruptcy reform provides some useful lessons for these countries. In...
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| Format: | Viewpoint |
| Language: | English |
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World Bank, Washington, DC
2012
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| Online Access: | http://documents.worldbank.org/curated/en/1995/09/441468/bankruptcy-reform-breaking-court-logjam-colombia http://hdl.handle.net/10986/11655 |
| Summary: | Many developing countries suffer from
logjam in the courts, a condition that tends to reduce the
effectiveness of bankruptcy law in relieving financial
distress. Colombia's bankruptcy reform provides some
useful lessons for these countries. In particular, it shows
that when traditional court procedures are hard to change,
an alternative is to legally empower another entity to
handle the entire process. The author explains how it was
done in Colombia. |
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