With reference to italian Bankruptcy reform (2006-2007, amended in 2012) my question is if the law contains effective tools for solving business crisis.
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Law is just to facilitate the things in smooth manner. Before framing any law, legal experts identify the loopholes more effectively to have a defense for it. That why they are being paid heavyly by defaulters. This is something to do with moral values and ethical financial system. No pressure to perform. Bankruptcy is an output of Commercilised model. If you refer the case of Islamic Banking then u will understand that Bankruptcy is not there possible without state role. Ownership sharing will lead to a better version and accountability.....Thanks.
Hi Monica, I would suggest visiting the website of OCI (http://www.osservatorio-oci.org) where you can obtain some relevant references and information concerning your question. The OCI research team published some empirical data about bankruptcy as well as reorganization procedures.
HI,
I advise you to have a look to this recent paper:
Debt enforcement, investment, and risk taking across countries
Journal of Financial Economics, n° 123, 2017 january, Pages 22-41
Giovanni Favara, Erwan Morellec, Enrique Schroth, Philip Valta
Best regards
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