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1 results

  • 6 - Implementation of a Simplified Insolvency Framework for Micro- and Small Enterprises

  • from Part III - Towards a New Insolvency Framework in Emerging Economies
  • Aurelio Gurrea-Martínez, Singapore Management University
  • Book:
    Reinventing Insolvency Law in Emerging Economies
    Published online:
    06 June 2024
    Print publication:
    13 June 2024, pp 179-207

  • Summary

    Micro- and small enterprises (MSEs) represent the majority of businesses in most countries around the world. Despite the economic relevance of MSEs, most jurisdictions – including most advanced economies – do not provide a suitable insolvency framework for MSEs. This chapter starts by analyzing the particular features of MSEs as well as the need to provide them with a simplified insolvency framework. It then discusses the solutions and policy recommendations that the academic literature and various international organizations have suggested for the design of a simplified insolvency regime for MSEs. The chapter concludes by suggesting different policy recommendations for the design of an efficient insolvency framework for MSEs in the context of emerging economies.