Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/202433
Authors: 
Kliatskova, Tatsiana
Savatier, Loïc Baptiste
Year of Publication: 
2019
Series/Report no.: 
DIW Roundup: Politik im Fokus 133
Abstract: 
When in distress, a firm may need restructuring or liquidation; in either case, legal uncertainty compounds the difficulty. Sound and efficient insolvency regimes are important as these not just positively affect investment, innovation, and economic growth, but also the supply and cost of credit. The design of appropriate insolvency frameworks in Europe is, however, still controversial. The debate is especially relevant as the European Commission just set a new legal framework for insolvency proceedings. This article both summarizes the recent Directive of the European Commission on minimum standards for national insolvency regimes and provides a review of the literature on how insolvency regimes affect real and financial sectors.
Document Type: 
Research Report
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