IDEAS home Printed from https://ideas.repec.org/p/bdi/opques/qef_828_24.html
   My bibliography  Save this paper

Judicial liquidation proceedings across the main economies of the European Union

Author

Listed:
  • Federico Fornasari

    (Bank of Italy)

  • Giacomo Roma

    (Bank of Italy)

Abstract

Insolvent firms' liquidation procedures are of crucial importance to the economic system, influencing ex ante the price and quantity of credit granted and ex post the reallocation of productive factors. Nevertheless, there are no studies available that evaluate the functioning of judicial liquidation procedures comparatively. The paper contributes to filling this gap in the literature and analyses the rules on asset liquidation in Italy, France, Germany and Spain, as they have recently been reformed. It focuses on the planning of liquidation procedures, on how assets are sold and how the appointed professionals are remunerated. Although some provisions may partially account for the different recovery rates and duration of procedures, these seem primarily due to institutional and contextual factors rather than to regulatory specificities.

Suggested Citation

  • Federico Fornasari & Giacomo Roma, 2024. "Judicial liquidation proceedings across the main economies of the European Union," Questioni di Economia e Finanza (Occasional Papers) 828, Bank of Italy, Economic Research and International Relations Area.
    • Handle: RePEc:bdi:opques:qef_828_24
    as

    Download full text from publisher

    File URL: https://www.bancaditalia.it/pubblicazioni/qef/2024-0828/QEF_828_24.pdf
    Download Restriction: no
    ---><---

    More about this item

    Keywords

    bankruptcy law; civil justice efficiency; non-performing loans;
    All these keywords.

    JEL classification:

    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • K10 - Law and Economics - - Basic Areas of Law - - - General (Constitutional Law)
    • K40 - Law and Economics - - Legal Procedure, the Legal System, and Illegal Behavior - - - General

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:bdi:opques:qef_828_24. See general information about how to correct material in RePEc.

    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.

    We have no bibliographic references for this item. You can help adding them by using 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 RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: the person in charge (email available below). General contact details of provider: https://edirc.repec.org/data/bdigvit.html .

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

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.