Mauritius : Insolvency and Creditor Rights Systems
The Bank assessed the Mauritius insolvency and creditor rights systems pursuant to a joint IMF-World Bank initiative to develop reports on the observance of standards and codes ("ROSC"), based on the Bank Principles and Guidelines for Eff...
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| Format: | Insolvency Assessment (ROSC) |
| Language: | English en_US |
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Washington DC
2013
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| Online Access: | http://documents.worldbank.org/curated/en/2004/03/6572694/mauritius-report-observance-standards-codes-rosc-insolvency-creditor-rights-systems http://hdl.handle.net/10986/14423 |
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okr-10986-144232021-04-23T14:03:18Z Mauritius : Insolvency and Creditor Rights Systems World Bank ACCOUNTING ASSET SALES AUDITING AUDITORS BANK LOANS BANK OF MAURITIUS BANKRUPTCY BANKRUPTCY LAW BANKS BID COMMERCIAL BANKS COMPANY LAW COURT CREDIT INSTITUTIONS CREDIT RISK CREDIT RISK MANAGEMENT CREDITOR CREDITOR PROTECTION CREDITORS DEBT DEBT RECOVERY DEBT REPAYMENT DEBT RESTRUCTURING DEBTORS DEBTS DEFAULT RISK DEFAULTS DEPOSITS ENFORCEMENT POWERS FINANCIAL INSTITUTIONS FINANCIAL SERVICES FIXED CHARGES FOREIGN BANKS FRAUD GUARANTY GUIDELINES INCOME TAX INSOLVENCY INSOLVENCY LAW INSOLVENCY PRACTITIONERS INSURANCE INVENTORY INVESTMENT LENDING LAWS LEGAL FRAMEWORK LEGAL INFRASTRUCTURE LEGISLATION LIENS LIQUID ASSETS LIQUIDATION MORTGAGES RECEIVERSHIP REGISTRATION PROCEDURES REGULATORY FRAMEWORK REORGANIZATION SECURED CREDITOR SECURED CREDITORS SHAREHOLDERS STATEMENT STATEMENTS SUBSIDIARIES SURETY TRADERS TRADING TREASURY BILLS UNSECURED DEBT The Bank assessed the Mauritius insolvency and creditor rights systems pursuant to a joint IMF-World Bank initiative to develop reports on the observance of standards and codes ("ROSC"), based on the Bank Principles and Guidelines for Effective Insolvency and Creditor Rights Systems during 2002. The assessment team interviewed a cross section of country stakeholders regarding the effectiveness of the legal infrastructure, and its implementation supporting debtor-creditor relationships, corporate insolvency and credit risk management and resolution practices. Conclusions in this assessment are based largely on a review of applicable legislation and information gathered through interviews conducted by the staff team, and other inputs provided by the Steering Committee on Insolvency and Creditor Rights set up by the Government of Mauritius in January 2003. In addition, five commercial banks provided responses pertaining to credit risk management and corporate recovery practices with respect to distressed assets. Policy recommendations include: creditors rights and enforcement areas, some fine tuning is required to broaden the use of security interests on movable and immovable property, and to ascertain the maximization of the value of the assets for sale upon seizure; enforcement procedures should be streamlined further by accelerated debt recovery rules and more efficient procedures for execution, enforcement and auctions; Credit Information Bureau should be established in Mauritius, and, the government should encourage the development of Credit Rating Agencies. On the legal framework for corporate insolvency, a global reform of the insolvency procedures should be pursued in order to provide Mauritius with a modern and efficient commercial insolvency law. It is also recommends the necessary amendments to the Bankruptcy Act and Bankruptcy Rules to take care of both traders, non-traders and companies insolvencies, and, the harmonious and uniform recovery procedures for all debts, including amounts due to the State. 2013-07-09T18:38:31Z 2013-07-09T18:38:31Z 2004-03 http://documents.worldbank.org/curated/en/2004/03/6572694/mauritius-report-observance-standards-codes-rosc-insolvency-creditor-rights-systems http://hdl.handle.net/10986/14423 English en_US CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank Washington DC Economic & Sector Work :: Insolvency Assessment (ROSC) Economic & Sector Work Africa Mauritius |
| repository_type |
Digital Repository |
| institution_category |
Foreign Institution |
| institution |
Digital Repositories |
| building |
World Bank Open Knowledge Repository |
| collection |
World Bank |
| language |
English en_US |
| topic |
ACCOUNTING ASSET SALES AUDITING AUDITORS BANK LOANS BANK OF MAURITIUS BANKRUPTCY BANKRUPTCY LAW BANKS BID COMMERCIAL BANKS COMPANY LAW COURT CREDIT INSTITUTIONS CREDIT RISK CREDIT RISK MANAGEMENT CREDITOR CREDITOR PROTECTION CREDITORS DEBT DEBT RECOVERY DEBT REPAYMENT DEBT RESTRUCTURING DEBTORS DEBTS DEFAULT RISK DEFAULTS DEPOSITS ENFORCEMENT POWERS FINANCIAL INSTITUTIONS FINANCIAL SERVICES FIXED CHARGES FOREIGN BANKS FRAUD GUARANTY GUIDELINES INCOME TAX INSOLVENCY INSOLVENCY LAW INSOLVENCY PRACTITIONERS INSURANCE INVENTORY INVESTMENT LENDING LAWS LEGAL FRAMEWORK LEGAL INFRASTRUCTURE LEGISLATION LIENS LIQUID ASSETS LIQUIDATION MORTGAGES RECEIVERSHIP REGISTRATION PROCEDURES REGULATORY FRAMEWORK REORGANIZATION SECURED CREDITOR SECURED CREDITORS SHAREHOLDERS STATEMENT STATEMENTS SUBSIDIARIES SURETY TRADERS TRADING TREASURY BILLS UNSECURED DEBT |
| spellingShingle |
ACCOUNTING ASSET SALES AUDITING AUDITORS BANK LOANS BANK OF MAURITIUS BANKRUPTCY BANKRUPTCY LAW BANKS BID COMMERCIAL BANKS COMPANY LAW COURT CREDIT INSTITUTIONS CREDIT RISK CREDIT RISK MANAGEMENT CREDITOR CREDITOR PROTECTION CREDITORS DEBT DEBT RECOVERY DEBT REPAYMENT DEBT RESTRUCTURING DEBTORS DEBTS DEFAULT RISK DEFAULTS DEPOSITS ENFORCEMENT POWERS FINANCIAL INSTITUTIONS FINANCIAL SERVICES FIXED CHARGES FOREIGN BANKS FRAUD GUARANTY GUIDELINES INCOME TAX INSOLVENCY INSOLVENCY LAW INSOLVENCY PRACTITIONERS INSURANCE INVENTORY INVESTMENT LENDING LAWS LEGAL FRAMEWORK LEGAL INFRASTRUCTURE LEGISLATION LIENS LIQUID ASSETS LIQUIDATION MORTGAGES RECEIVERSHIP REGISTRATION PROCEDURES REGULATORY FRAMEWORK REORGANIZATION SECURED CREDITOR SECURED CREDITORS SHAREHOLDERS STATEMENT STATEMENTS SUBSIDIARIES SURETY TRADERS TRADING TREASURY BILLS UNSECURED DEBT World Bank Mauritius : Insolvency and Creditor Rights Systems |
| geographic_facet |
Africa Mauritius |
| description |
The Bank assessed the Mauritius
insolvency and creditor rights systems pursuant to a joint
IMF-World Bank initiative to develop reports on the
observance of standards and codes ("ROSC"), based
on the Bank Principles and Guidelines for Effective
Insolvency and Creditor Rights Systems during 2002. The
assessment team interviewed a cross section of country
stakeholders regarding the effectiveness of the legal
infrastructure, and its implementation supporting
debtor-creditor relationships, corporate insolvency and
credit risk management and resolution practices. Conclusions
in this assessment are based largely on a review of
applicable legislation and information gathered through
interviews conducted by the staff team, and other inputs
provided by the Steering Committee on Insolvency and
Creditor Rights set up by the Government of Mauritius in
January 2003. In addition, five commercial banks provided
responses pertaining to credit risk management and corporate
recovery practices with respect to distressed assets. Policy
recommendations include: creditors rights and enforcement
areas, some fine tuning is required to broaden the use of
security interests on movable and immovable property, and to
ascertain the maximization of the value of the assets for
sale upon seizure; enforcement procedures should be
streamlined further by accelerated debt recovery rules and
more efficient procedures for execution, enforcement and
auctions; Credit Information Bureau should be established in
Mauritius, and, the government should encourage the
development of Credit Rating Agencies. On the legal
framework for corporate insolvency, a global reform of the
insolvency procedures should be pursued in order to provide
Mauritius with a modern and efficient commercial insolvency
law. It is also recommends the necessary amendments to the
Bankruptcy Act and Bankruptcy Rules to take care of both
traders, non-traders and companies insolvencies, and, the
harmonious and uniform recovery procedures for all debts,
including amounts due to the State. |
| format |
Economic & Sector Work :: Insolvency Assessment (ROSC) |
| author |
World Bank |
| author_facet |
World Bank |
| author_sort |
World Bank |
| title |
Mauritius : Insolvency and Creditor Rights Systems |
| title_short |
Mauritius : Insolvency and Creditor Rights Systems |
| title_full |
Mauritius : Insolvency and Creditor Rights Systems |
| title_fullStr |
Mauritius : Insolvency and Creditor Rights Systems |
| title_full_unstemmed |
Mauritius : Insolvency and Creditor Rights Systems |
| title_sort |
mauritius : insolvency and creditor rights systems |
| publisher |
Washington DC |
| publishDate |
2013 |
| url |
http://documents.worldbank.org/curated/en/2004/03/6572694/mauritius-report-observance-standards-codes-rosc-insolvency-creditor-rights-systems http://hdl.handle.net/10986/14423 |
| _version_ |
1764429143171137536 |