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by: Jose Astigarraga, Malcolm Rowat
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"Modern society has eliminated the inhumane debtors'
prisons for handling the insolvent debtor and in their stead have
enacted benign modern laws in the area of bankruptcy. Unscrupulous
merchants now use these benign laws for fraudulent
purposes."
Based on case studies in Argentina, Brazil, Mexico, and Venezuela,
this is the first publication to provide recommendations about the
important legal and institutional issues that are involved in
bankruptcy reform in a critical region of the global economy. The
authors note that effective bankruptcy policy balances several
requirements for the conduct of a stable, successful economy. For
example, it might be in the greatest interests to all parties if a
company is given an opportunity to restructure and make use of the
scarce resources remaining in its possession. On the other hand,
inefficient firms, especially those that have long survived only on
state subsidies, may need to fail in order to free space in the market
for more efficient, better-managed companies. Finally, there are the
needs to enforce loan contracts and provide an equitable system of debt
collection.
- Shipping Weight: 0.56 lbs (0.25 kgs)
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