Report on the Treatment of the Insolvency of Natural Persons
This report addresses the insolvency of natural persons following this structure: a first part introduces the objectives and nature of the report, deals with general issues, and describes the foundations of a system for the treatment of the insolve...
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| Format: | Working Paper |
| Language: | English en_US |
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World Bank, Washington, DC
2014
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| Online Access: | http://documents.worldbank.org/curated/en/2014/01/18836883/world-working-group-treatment-insolvency-natural-persons http://hdl.handle.net/10986/17606 |
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okr-10986-17606 |
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| recordtype |
oai_dc |
| repository_type |
Digital Repository |
| institution_category |
Foreign Institution |
| institution |
Digital Repositories |
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World Bank Open Knowledge Repository |
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World Bank |
| language |
English en_US |
| topic |
ACCIDENTS ACCOUNT DEBTOR ACCOUNT DEBTORS ACCOUNT RECEIVABLE ACCOUNTS RECEIVABLE ADMINISTRATIVE EXPENSES ASSET SALES ASSET VALUE ASSETS AVAILABILITY OF CREDIT BALANCE SHEET BALANCE SHEETS BANK INSOLVENCY BANKRUPTCY BANKRUPTCY PROFESSIONALS BLACK MARKET BORROWER BUSINESS DEBTORS BUSINESS INSOLVENCY CASE OF DEFAULT CASH FLOW CLAIM COLLATERAL COLLECTION SYSTEM COLLECTIVE ACTION COLLECTIVE ACTION PROBLEM COMMERCIAL CREDIT CONSUMER DEBT CONSUMER LAW CONSUMER PROTECTION CORRUPTION COURT SYSTEM CREDIT CARD CREDIT EXTENSION CREDIT INSTITUTIONS CREDIT REPORTING CREDIT SOCIETIES CREDITOR CREDITOR RIGHTS CREDITOR RIGHTS SYSTEMS CREDITORS DEBT DEBT ADJUSTMENT DEBT BURDEN DEBT BURDENS DEBT COLLECTION DEBT COLLECTIONS DEBT PROBLEMS DEBT RELIEF DEBT REPAYMENT DEBT SERVICE DEBT SERVICING DEBTOR DEBTOR FRAUD DEBTOR'S PROPERTY DEBTORS DEFAULT JUDGMENT DEFAULT JUDGMENTS DEFAULTS DEPOSITS DEVELOPING COUNTRIES DISCHARGE OF DEBT DISPOSABLE INCOME DISTRESSED DEBT DIVORCE DOMESTIC LAWS ECONOMIC CIRCUMSTANCES ECONOMIC DEVELOPMENT ECONOMIC REGULATION EDUCATIONAL LOANS EFFECTIVE INSOLVENCY ENFORCEMENT OF CLAIMS ENFORCEMENT OF JUDGMENTS ENFORCEMENT SYSTEM ENFORCEMENT SYSTEMS ENTRY REQUIREMENTS EQUIPMENT ESTATE EXCESSIVE DEBT EXPROPRIATION FEDERAL RESERVE FEDERAL RESERVE BANK FINANCIAL CRISIS FINANCIAL DIFFICULTY FINANCIAL DISTRESS FINANCIAL FLOWS FINANCIAL INTERMEDIATION FINANCIAL RESPONSIBILITY FINANCIAL SITUATION FINANCIAL STABILITY FINANCIAL STRESS FINANCIAL SYSTEM FORGIVENESS FORMAL INSOLVENCY FRAUD GARNISHMENT GLOBALIZATION GOVERNMENT DEBTS GOVERNMENT INTERVENTION GOVERNMENT REGULATORS GOVERNMENT SUBSIDIES HOME MORTGAGES HOUSEHOLD DEBT INDEBTED INDEBTEDNESS INDIRECT COSTS INDIVIDUAL CREDITOR INDIVIDUAL CREDITORS INDIVIDUAL DEBTOR INDIVIDUAL DEBTORS INDIVIDUAL LIABILITY INFORMAL DISPUTE RESOLUTION INFORMAL WORKOUT INFORMAL WORKOUTS INFORMATION ASYMMETRY INSOLVENCIES INSOLVENCY INSOLVENCY AREA INSOLVENCY CASE INSOLVENCY LAW INSOLVENCY LAWS INSOLVENCY MECHANISM INSOLVENCY POLICY INSOLVENCY PRACTITIONERS INSOLVENCY PROCEDURE INSOLVENCY PROCEDURES INSOLVENCY PROCEEDING INSOLVENCY PROCEEDINGS INSOLVENCY PROCESS INSOLVENCY REFORM INSOLVENCY REGIME INSOLVENCY REGIMES INSOLVENCY RELIEF INSOLVENCY REPRESENTATIVE INSOLVENCY REPRESENTATIVES INSOLVENCY SYSTEM INSOLVENCY SYSTEMS INSOLVENT INSOLVENT DEBTOR INSOLVENT DEBTORS INSOLVENT INDIVIDUALS INSTITUTIONAL CAPACITIES INSTITUTIONAL FRAMEWORK INSTITUTIONAL FRAMEWORKS INSURANCE INTERNATIONAL BANK INTERNATIONAL TRADE INTERNATIONAL TRADE LAW INVESTING JUDGES JUDGMENT JUDICIAL SYSTEM JUDICIARY JURISDICTIONS LABOR MARKET LAND TENURE LEGAL FRAMEWORKS LEGAL REFORMS LEGAL SYSTEMS LEGAL TRADITIONS LEGISLATIVE GUIDE ON INSOLVENCY LAW LENDERS LIMITED LIABILITY LIQUIDATION LOAN LOAN PORTFOLIOS LOSS OF VALUE MANDATE MODEL LAW MONETARY FUND MORAL HAZARD MORTGAGE MORTGAGES NEGOTIATIONS PARTICIPATION OF CREDITORS PARTICULAR ASSETS PAYMENT FOR CREDITORS PAYMENT OF CLAIMS PAYMENT PLAN PAYMENT PLANS PAYMENT TO CREDITORS PAYMENTS TO CREDITORS PENALTIES PENSION PERSONAL BANKRUPTCY PERSONAL BANKRUPTCY LAW PERSONAL GUARANTEES PERSONAL LIABILITY POOL OF ASSETS POTENTIAL INSOLVENCY PREVENTION OF INSOLVENCY PROBLEM OF CONSUMER INSOLVENCY PROPERTY RIGHTS REAFFIRMATION AGREEMENTS RECEIVABLES RESERVE BANK RETURN RETURNS RISK OF DEFAULT ROLE OF COURTS RULE OF LAW SAFETY NETS SALARY SETTLEMENT SHAREHOLDERS SLAVERY SOPHISTICATED CREDITORS SPECIFIC CREDITORS STATE OF INSOLVENCY TAX TAX DEDUCTIONS TREATMENT OF INSOLVENCY TYPES OF INSOLVENCY UNSOPHISTICATED CREDITORS VALUATION VALUE OF ASSETS WAGES WITHDRAWAL WORKOUT AGREEMENT |
| spellingShingle |
ACCIDENTS ACCOUNT DEBTOR ACCOUNT DEBTORS ACCOUNT RECEIVABLE ACCOUNTS RECEIVABLE ADMINISTRATIVE EXPENSES ASSET SALES ASSET VALUE ASSETS AVAILABILITY OF CREDIT BALANCE SHEET BALANCE SHEETS BANK INSOLVENCY BANKRUPTCY BANKRUPTCY PROFESSIONALS BLACK MARKET BORROWER BUSINESS DEBTORS BUSINESS INSOLVENCY CASE OF DEFAULT CASH FLOW CLAIM COLLATERAL COLLECTION SYSTEM COLLECTIVE ACTION COLLECTIVE ACTION PROBLEM COMMERCIAL CREDIT CONSUMER DEBT CONSUMER LAW CONSUMER PROTECTION CORRUPTION COURT SYSTEM CREDIT CARD CREDIT EXTENSION CREDIT INSTITUTIONS CREDIT REPORTING CREDIT SOCIETIES CREDITOR CREDITOR RIGHTS CREDITOR RIGHTS SYSTEMS CREDITORS DEBT DEBT ADJUSTMENT DEBT BURDEN DEBT BURDENS DEBT COLLECTION DEBT COLLECTIONS DEBT PROBLEMS DEBT RELIEF DEBT REPAYMENT DEBT SERVICE DEBT SERVICING DEBTOR DEBTOR FRAUD DEBTOR'S PROPERTY DEBTORS DEFAULT JUDGMENT DEFAULT JUDGMENTS DEFAULTS DEPOSITS DEVELOPING COUNTRIES DISCHARGE OF DEBT DISPOSABLE INCOME DISTRESSED DEBT DIVORCE DOMESTIC LAWS ECONOMIC CIRCUMSTANCES ECONOMIC DEVELOPMENT ECONOMIC REGULATION EDUCATIONAL LOANS EFFECTIVE INSOLVENCY ENFORCEMENT OF CLAIMS ENFORCEMENT OF JUDGMENTS ENFORCEMENT SYSTEM ENFORCEMENT SYSTEMS ENTRY REQUIREMENTS EQUIPMENT ESTATE EXCESSIVE DEBT EXPROPRIATION FEDERAL RESERVE FEDERAL RESERVE BANK FINANCIAL CRISIS FINANCIAL DIFFICULTY FINANCIAL DISTRESS FINANCIAL FLOWS FINANCIAL INTERMEDIATION FINANCIAL RESPONSIBILITY FINANCIAL SITUATION FINANCIAL STABILITY FINANCIAL STRESS FINANCIAL SYSTEM FORGIVENESS FORMAL INSOLVENCY FRAUD GARNISHMENT GLOBALIZATION GOVERNMENT DEBTS GOVERNMENT INTERVENTION GOVERNMENT REGULATORS GOVERNMENT SUBSIDIES HOME MORTGAGES HOUSEHOLD DEBT INDEBTED INDEBTEDNESS INDIRECT COSTS INDIVIDUAL CREDITOR INDIVIDUAL CREDITORS INDIVIDUAL DEBTOR INDIVIDUAL DEBTORS INDIVIDUAL LIABILITY INFORMAL DISPUTE RESOLUTION INFORMAL WORKOUT INFORMAL WORKOUTS INFORMATION ASYMMETRY INSOLVENCIES INSOLVENCY INSOLVENCY AREA INSOLVENCY CASE INSOLVENCY LAW INSOLVENCY LAWS INSOLVENCY MECHANISM INSOLVENCY POLICY INSOLVENCY PRACTITIONERS INSOLVENCY PROCEDURE INSOLVENCY PROCEDURES INSOLVENCY PROCEEDING INSOLVENCY PROCEEDINGS INSOLVENCY PROCESS INSOLVENCY REFORM INSOLVENCY REGIME INSOLVENCY REGIMES INSOLVENCY RELIEF INSOLVENCY REPRESENTATIVE INSOLVENCY REPRESENTATIVES INSOLVENCY SYSTEM INSOLVENCY SYSTEMS INSOLVENT INSOLVENT DEBTOR INSOLVENT DEBTORS INSOLVENT INDIVIDUALS INSTITUTIONAL CAPACITIES INSTITUTIONAL FRAMEWORK INSTITUTIONAL FRAMEWORKS INSURANCE INTERNATIONAL BANK INTERNATIONAL TRADE INTERNATIONAL TRADE LAW INVESTING JUDGES JUDGMENT JUDICIAL SYSTEM JUDICIARY JURISDICTIONS LABOR MARKET LAND TENURE LEGAL FRAMEWORKS LEGAL REFORMS LEGAL SYSTEMS LEGAL TRADITIONS LEGISLATIVE GUIDE ON INSOLVENCY LAW LENDERS LIMITED LIABILITY LIQUIDATION LOAN LOAN PORTFOLIOS LOSS OF VALUE MANDATE MODEL LAW MONETARY FUND MORAL HAZARD MORTGAGE MORTGAGES NEGOTIATIONS PARTICIPATION OF CREDITORS PARTICULAR ASSETS PAYMENT FOR CREDITORS PAYMENT OF CLAIMS PAYMENT PLAN PAYMENT PLANS PAYMENT TO CREDITORS PAYMENTS TO CREDITORS PENALTIES PENSION PERSONAL BANKRUPTCY PERSONAL BANKRUPTCY LAW PERSONAL GUARANTEES PERSONAL LIABILITY POOL OF ASSETS POTENTIAL INSOLVENCY PREVENTION OF INSOLVENCY PROBLEM OF CONSUMER INSOLVENCY PROPERTY RIGHTS REAFFIRMATION AGREEMENTS RECEIVABLES RESERVE BANK RETURN RETURNS RISK OF DEFAULT ROLE OF COURTS RULE OF LAW SAFETY NETS SALARY SETTLEMENT SHAREHOLDERS SLAVERY SOPHISTICATED CREDITORS SPECIFIC CREDITORS STATE OF INSOLVENCY TAX TAX DEDUCTIONS TREATMENT OF INSOLVENCY TYPES OF INSOLVENCY UNSOPHISTICATED CREDITORS VALUATION VALUE OF ASSETS WAGES WITHDRAWAL WORKOUT AGREEMENT Insolvency and Creditor/Debtor Regimes Task Force Report on the Treatment of the Insolvency of Natural Persons |
| description |
This report addresses the insolvency of
natural persons following this structure: a first part
introduces the objectives and nature of the report, deals
with general issues, and describes the foundations of a
system for the treatment of the insolvency of natural
persons. The second part of the report analyzes the core
legal attributes of system for the treatment of the
insolvency of natural persons: within this system, the most
relevant questions are analyzed in depth, namely the design
of the system and the institutional framework, access to the
system, the participation of creditors, the solutions to the
insolvency process, and discharge. The main objective of
this report is to provide guidance on the characteristics of
an effective insolvency regime for natural persons and on
the opportunities and challenges encountered in the
development of such a regime. In this regard, the report
raises awareness about the importance of a regime for the
treatment of the insolvency of natural persons, and explores
the advantages and disadvantages of the solutions to the
numerous practical issues that have to be confronted in the
design of an insolvency regime for natural persons. |
| format |
Publications & Research :: Working Paper |
| author |
Insolvency and Creditor/Debtor Regimes Task Force |
| author_facet |
Insolvency and Creditor/Debtor Regimes Task Force |
| author_sort |
Insolvency and Creditor/Debtor Regimes Task Force |
| title |
Report on the Treatment of the Insolvency of Natural Persons |
| title_short |
Report on the Treatment of the Insolvency of Natural Persons |
| title_full |
Report on the Treatment of the Insolvency of Natural Persons |
| title_fullStr |
Report on the Treatment of the Insolvency of Natural Persons |
| title_full_unstemmed |
Report on the Treatment of the Insolvency of Natural Persons |
| title_sort |
report on the treatment of the insolvency of natural persons |
| publisher |
World Bank, Washington, DC |
| publishDate |
2014 |
| url |
http://documents.worldbank.org/curated/en/2014/01/18836883/world-working-group-treatment-insolvency-natural-persons http://hdl.handle.net/10986/17606 |
| _version_ |
1764437965019283456 |
| spelling |
okr-10986-176062021-04-23T14:03:39Z Report on the Treatment of the Insolvency of Natural Persons Insolvency and Creditor/Debtor Regimes Task Force ACCIDENTS ACCOUNT DEBTOR ACCOUNT DEBTORS ACCOUNT RECEIVABLE ACCOUNTS RECEIVABLE ADMINISTRATIVE EXPENSES ASSET SALES ASSET VALUE ASSETS AVAILABILITY OF CREDIT BALANCE SHEET BALANCE SHEETS BANK INSOLVENCY BANKRUPTCY BANKRUPTCY PROFESSIONALS BLACK MARKET BORROWER BUSINESS DEBTORS BUSINESS INSOLVENCY CASE OF DEFAULT CASH FLOW CLAIM COLLATERAL COLLECTION SYSTEM COLLECTIVE ACTION COLLECTIVE ACTION PROBLEM COMMERCIAL CREDIT CONSUMER DEBT CONSUMER LAW CONSUMER PROTECTION CORRUPTION COURT SYSTEM CREDIT CARD CREDIT EXTENSION CREDIT INSTITUTIONS CREDIT REPORTING CREDIT SOCIETIES CREDITOR CREDITOR RIGHTS CREDITOR RIGHTS SYSTEMS CREDITORS DEBT DEBT ADJUSTMENT DEBT BURDEN DEBT BURDENS DEBT COLLECTION DEBT COLLECTIONS DEBT PROBLEMS DEBT RELIEF DEBT REPAYMENT DEBT SERVICE DEBT SERVICING DEBTOR DEBTOR FRAUD DEBTOR'S PROPERTY DEBTORS DEFAULT JUDGMENT DEFAULT JUDGMENTS DEFAULTS DEPOSITS DEVELOPING COUNTRIES DISCHARGE OF DEBT DISPOSABLE INCOME DISTRESSED DEBT DIVORCE DOMESTIC LAWS ECONOMIC CIRCUMSTANCES ECONOMIC DEVELOPMENT ECONOMIC REGULATION EDUCATIONAL LOANS EFFECTIVE INSOLVENCY ENFORCEMENT OF CLAIMS ENFORCEMENT OF JUDGMENTS ENFORCEMENT SYSTEM ENFORCEMENT SYSTEMS ENTRY REQUIREMENTS EQUIPMENT ESTATE EXCESSIVE DEBT EXPROPRIATION FEDERAL RESERVE FEDERAL RESERVE BANK FINANCIAL CRISIS FINANCIAL DIFFICULTY FINANCIAL DISTRESS FINANCIAL FLOWS FINANCIAL INTERMEDIATION FINANCIAL RESPONSIBILITY FINANCIAL SITUATION FINANCIAL STABILITY FINANCIAL STRESS FINANCIAL SYSTEM FORGIVENESS FORMAL INSOLVENCY FRAUD GARNISHMENT GLOBALIZATION GOVERNMENT DEBTS GOVERNMENT INTERVENTION GOVERNMENT REGULATORS GOVERNMENT SUBSIDIES HOME MORTGAGES HOUSEHOLD DEBT INDEBTED INDEBTEDNESS INDIRECT COSTS INDIVIDUAL CREDITOR INDIVIDUAL CREDITORS INDIVIDUAL DEBTOR INDIVIDUAL DEBTORS INDIVIDUAL LIABILITY INFORMAL DISPUTE RESOLUTION INFORMAL WORKOUT INFORMAL WORKOUTS INFORMATION ASYMMETRY INSOLVENCIES INSOLVENCY INSOLVENCY AREA INSOLVENCY CASE INSOLVENCY LAW INSOLVENCY LAWS INSOLVENCY MECHANISM INSOLVENCY POLICY INSOLVENCY PRACTITIONERS INSOLVENCY PROCEDURE INSOLVENCY PROCEDURES INSOLVENCY PROCEEDING INSOLVENCY PROCEEDINGS INSOLVENCY PROCESS INSOLVENCY REFORM INSOLVENCY REGIME INSOLVENCY REGIMES INSOLVENCY RELIEF INSOLVENCY REPRESENTATIVE INSOLVENCY REPRESENTATIVES INSOLVENCY SYSTEM INSOLVENCY SYSTEMS INSOLVENT INSOLVENT DEBTOR INSOLVENT DEBTORS INSOLVENT INDIVIDUALS INSTITUTIONAL CAPACITIES INSTITUTIONAL FRAMEWORK INSTITUTIONAL FRAMEWORKS INSURANCE INTERNATIONAL BANK INTERNATIONAL TRADE INTERNATIONAL TRADE LAW INVESTING JUDGES JUDGMENT JUDICIAL SYSTEM JUDICIARY JURISDICTIONS LABOR MARKET LAND TENURE LEGAL FRAMEWORKS LEGAL REFORMS LEGAL SYSTEMS LEGAL TRADITIONS LEGISLATIVE GUIDE ON INSOLVENCY LAW LENDERS LIMITED LIABILITY LIQUIDATION LOAN LOAN PORTFOLIOS LOSS OF VALUE MANDATE MODEL LAW MONETARY FUND MORAL HAZARD MORTGAGE MORTGAGES NEGOTIATIONS PARTICIPATION OF CREDITORS PARTICULAR ASSETS PAYMENT FOR CREDITORS PAYMENT OF CLAIMS PAYMENT PLAN PAYMENT PLANS PAYMENT TO CREDITORS PAYMENTS TO CREDITORS PENALTIES PENSION PERSONAL BANKRUPTCY PERSONAL BANKRUPTCY LAW PERSONAL GUARANTEES PERSONAL LIABILITY POOL OF ASSETS POTENTIAL INSOLVENCY PREVENTION OF INSOLVENCY PROBLEM OF CONSUMER INSOLVENCY PROPERTY RIGHTS REAFFIRMATION AGREEMENTS RECEIVABLES RESERVE BANK RETURN RETURNS RISK OF DEFAULT ROLE OF COURTS RULE OF LAW SAFETY NETS SALARY SETTLEMENT SHAREHOLDERS SLAVERY SOPHISTICATED CREDITORS SPECIFIC CREDITORS STATE OF INSOLVENCY TAX TAX DEDUCTIONS TREATMENT OF INSOLVENCY TYPES OF INSOLVENCY UNSOPHISTICATED CREDITORS VALUATION VALUE OF ASSETS WAGES WITHDRAWAL WORKOUT AGREEMENT This report addresses the insolvency of natural persons following this structure: a first part introduces the objectives and nature of the report, deals with general issues, and describes the foundations of a system for the treatment of the insolvency of natural persons. The second part of the report analyzes the core legal attributes of system for the treatment of the insolvency of natural persons: within this system, the most relevant questions are analyzed in depth, namely the design of the system and the institutional framework, access to the system, the participation of creditors, the solutions to the insolvency process, and discharge. The main objective of this report is to provide guidance on the characteristics of an effective insolvency regime for natural persons and on the opportunities and challenges encountered in the development of such a regime. In this regard, the report raises awareness about the importance of a regime for the treatment of the insolvency of natural persons, and explores the advantages and disadvantages of the solutions to the numerous practical issues that have to be confronted in the design of an insolvency regime for natural persons. 2014-04-02T21:12:31Z 2014-04-02T21:12:31Z 2014-01 http://documents.worldbank.org/curated/en/2014/01/18836883/world-working-group-treatment-insolvency-natural-persons http://hdl.handle.net/10986/17606 English en_US CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank, Washington, DC Publications & Research :: Working Paper Publications & Research |