IDEAS home Printed from
MyIDEAS: Log in (now much improved!) to save this article

Bankruptcy Reform in Russia: The Case for Creditor Rights in Russia

Listed author(s):
  • Moss, Laurence S
Registered author(s):

    Russia at the dawn of the 21st century is experiencing a collapsing economy. In a world where healthy economies create and maintain capital, it is critically important that all efforts be made to assure all creditors and especially private direct investors that in the event of debtor-insolvency their business interests are protected. The role of bankruptcy law under a regime of what I call "creditor rights" is limited. The court system can be used to avoid a "creditors' race" to grab assets. Whenever the "going concern" value of a firm is greater than the sum of the assets sold separately a case can be made for a bankruptcy procedure as a way of protecting creditor rights. This paper examines the historical origins of the "creditor rights tradition" and advocates such a regime for modern Russia. This paper holds that especially with respect to Russia, we would do well to heed John Stuart Mill's advice and support reforms that favor creditors and protect the value of their rights. Those insolvent firms owned and managed by political oligarchs should be cut down, dismembered, and the assets they command transferred to new and more imaginative and solvent groups of managers. Copyright 2000 by Kluwer Academic Publishers

    If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.

    File URL:
    File Function: link to full text
    Download Restriction: Access to full text is restricted to subscribers.

    As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.

    Article provided by Springer & Society for the Development of Austrian Economics in its journal Review of Austrian Economics.

    Volume (Year): 13 (2000)
    Issue (Month): 2 (September)
    Pages: 121-146

    in new window

    Handle: RePEc:kap:revaec:v:13:y:2000:i:2:p:121-46
    Contact details of provider: Web page:

    Web page:

    More information through EDIRC

    Order Information: Web:

    No references listed on IDEAS
    You can help add them by filling out this form.

    This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

    When requesting a correction, please mention this item's handle: RePEc:kap:revaec:v:13:y:2000:i:2:p:121-46. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Sonal Shukla)

    or (Rebekah McClure)

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If references are entirely missing, you can add them using this form.

    If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    This information is provided to you by IDEAS at the Research Division of the Federal Reserve Bank of St. Louis using RePEc data.