Bankruptcy reform: evidence from a survey among judges and receivers
AbstractBecause of low success rates, several European countries have recently reformed their US Chapter 11-type bankruptcy procedures or are planning future reforms. Using unique data from a survey among judges and insolvency practitioners (receivers), we explore the ex ante expectations of the impact of the 2009 adjustments to the Belgian reorganization procedure, including cost reductions, improvement of the procedure's reputation, encouraging informal reorganizations and appointing a mediator. The general assessment is moderately positive, although judges are significantly more optimistic than receivers. In addition, we find that the respondents' expectations are related to their views on the current system, perceived causes of failure and regional characteristics. We conclude by formulating policy recommendations.
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Bibliographic InfoArticle provided by Taylor and Francis Journals in its journal Applied Economics Letters.
Volume (Year): 17 (2010)
Issue (Month): 14 ()
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Web page: http://www.tandf.co.uk/journals/routledge/13504851.html
Other versions of this item:
- Dewaelheyns, Nico & Van Hulle, Cynthia, 2010. "Bankruptcy reform: Evidence from a survey among judges and receivers," Open Access publications from Katholieke Universiteit Leuven urn:hdl:123456789/234420, Katholieke Universiteit Leuven.
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- Uluc Aysun, 2009.
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