Publication:
Pakistan - Strengthening the Insolvency Regime : Non-Lending Technical Assistance Final Report

dc.contributor.author World Bank
dc.date.accessioned 2013-02-15T19:38:56Z
dc.date.available 2013-02-15T19:38:56Z
dc.date.issued 2011-06
dc.description.abstract The importance of a modern, binding and effective insolvency regime is undeniable. Nearly 90 countries around the world have reformed their bankruptcy codes since Second World War, and over half of them have done so during the last decade. One of the key aspects in the reform process is the delicate balance addressed by a modern insolvency system which encourages the organization of viable firms and liquidates unviable firms. The financial and macroeconomic crises, as recently experienced in Pakistan, provide an opportunity for bankruptcy reform, as the potential employment impact often places the issue of insolvent companies high on the policy agenda. The three fundamental goals of any insolvency law are: 1) transparency, including a system for publicizing and indexing judgments, an accessible method for registering securing interest and an effective notice of insolvency proceedings, 2) predictability - in terms of being fair, simple and clear, which if not achieved ends up costing more as financial institutions compensate the uncertainty with additional credit costs; and 3) efficiency, which conceptually is clear but empirically is difficult to measure. en
dc.identifier http://documents.worldbank.org/curated/en/2011/06/16251104/pakistan-strengthening-insolvency-regime-non-lending-technical-assistance
dc.identifier.uri http://hdl.handle.net/10986/12374
dc.language English
dc.language.iso en_US
dc.publisher Washington, DC
dc.rights CC BY 3.0 IGO
dc.rights.holder World Bank
dc.rights.uri http://creativecommons.org/licenses/by/3.0/igo/
dc.subject ACCESS TO CREDIT
dc.subject ACCESS TO FINANCE
dc.subject ACCOUNTABILITY
dc.subject ADMINISTRATIVE ACTION
dc.subject ADMINISTRATIVE COSTS
dc.subject AFFECTED CREDITORS
dc.subject ARBITRATION
dc.subject ASSET MANAGEMENT
dc.subject ASSET MANAGEMENT COMPANY
dc.subject ASSET MARKETS
dc.subject ASSET VALUE
dc.subject ASSETS
dc.subject AUTOMATIC STAY
dc.subject BALANCE OF PAYMENTS
dc.subject BALANCE OF PAYMENTS CRISES
dc.subject BALANCE SHEET
dc.subject BALANCE SHEETS
dc.subject BANK LOAN
dc.subject BANKING LAWS
dc.subject BANKING SYSTEM
dc.subject BANKRUPTCY
dc.subject BANKRUPTCY CODE
dc.subject BANKRUPTCY CODES
dc.subject BANKRUPTCY FILINGS
dc.subject BANKRUPTCY PROCEEDING
dc.subject BANKRUPTCY PROCEEDINGS
dc.subject BANKRUPTCY REFORM
dc.subject BID
dc.subject BUSINESS ADVICE
dc.subject BUSINESS ENTERPRISES
dc.subject BUSINESS INSOLVENCY
dc.subject CAPACITY BUILDING
dc.subject CHECKS
dc.subject CLAIM
dc.subject CLASSES OF CLAIMANT
dc.subject COLLATERAL
dc.subject COMMODITY PRICES
dc.subject COMPANIES LAW
dc.subject COMPANY LAW
dc.subject CONSOLIDATION
dc.subject CORPORATE BORROWERS
dc.subject CORPORATE DEBTORS
dc.subject CORPORATE DISTRESS
dc.subject CORPORATE ENTITIES
dc.subject CORPORATE INSOLVENCY
dc.subject CORPORATE LAW
dc.subject CORPORATE LAW REFORM
dc.subject CORPORATE LAWS
dc.subject CORPORATE REORGANIZATION
dc.subject CORPORATIONS
dc.subject COURT APPROVAL
dc.subject COURT ORDER
dc.subject CREDIT COSTS
dc.subject CREDIT RISK
dc.subject CREDITOR
dc.subject CREDITOR CLAIMS
dc.subject CREDITOR CLASSES
dc.subject CREDITOR CONSENT
dc.subject CREDITOR PROTECTION
dc.subject CREDITOR RIGHTS
dc.subject CREDITOR RIGHTS REGIME
dc.subject CREDITORS
dc.subject CREDITS
dc.subject CRIMINAL ACT
dc.subject DEBT
dc.subject DEBT FORGIVENESS
dc.subject DEBTOR
dc.subject DEBTOR COMPANY
dc.subject DEBTORS
dc.subject DEBTS
dc.subject DECISION-MAKING POWERS
dc.subject DEPENDENT
dc.subject DISSOLUTION
dc.subject DISTRESSED ASSET
dc.subject DISTRESSED ASSETS
dc.subject DISTRESSED COMPANIES
dc.subject DISTRESSED COMPANY
dc.subject DISTRESSED DEBT
dc.subject DISTRESSED ENTERPRISES
dc.subject DUE DILIGENCE
dc.subject EFFECTIVE INSOLVENCY
dc.subject EFFECTIVE INSOLVENCY SYSTEMS
dc.subject EMERGING ECONOMIES
dc.subject EMPLOYEE CLAIMS
dc.subject EMPLOYMENT
dc.subject EMPLOYMENT CONTRACTS
dc.subject ENFORCEABILITY
dc.subject ENTREPRENEURS
dc.subject EQUITY STAKE
dc.subject EXCHANGE COMMISSION
dc.subject EXISTING CREDITORS
dc.subject EXISTING LIABILITIES
dc.subject EXIT MECHANISM
dc.subject EXTERNAL SHOCKS
dc.subject FEDERAL BUDGET
dc.subject FINANCES
dc.subject FINANCIAL DISCIPLINE
dc.subject FINANCIAL DISTRESS
dc.subject FINANCIAL INSTITUTIONS
dc.subject FINANCIAL POSITION
dc.subject FINANCIAL RESTRUCTURING
dc.subject FINANCIAL STABILITY
dc.subject FISCAL DISCIPLINE
dc.subject FORCED SALE
dc.subject FOREIGN COMPANIES
dc.subject FREE MARKET
dc.subject GOING CONCERN
dc.subject GOING CONCERNS
dc.subject GOVERNMENT OBLIGATIONS
dc.subject GUARANTORS
dc.subject IMPAIRED ASSETS
dc.subject INCORPORATION
dc.subject INFLATION
dc.subject INSOLVENCY
dc.subject INSOLVENCY LAW
dc.subject INSOLVENCY MECHANISM
dc.subject INSOLVENCY PRACTITIONERS
dc.subject INSOLVENCY PROCEEDINGS
dc.subject INSOLVENCY PROCESS
dc.subject INSOLVENCY PROFESSIONALS
dc.subject INSOLVENCY REFORM
dc.subject INSOLVENCY REGIME
dc.subject INSOLVENCY REGIMES
dc.subject INSOLVENCY SYSTEM
dc.subject INSOLVENCY SYSTEMS
dc.subject INSOLVENT
dc.subject INSOLVENT COMPANIES
dc.subject INSOLVENT COMPANY
dc.subject INSTITUTIONAL FRAMEWORKS
dc.subject INTEREST RATES
dc.subject INTERESTS OF CREDITORS
dc.subject INTERNATIONAL TRADE
dc.subject JUDGES
dc.subject JUDGMENTS
dc.subject JUDICIAL ADMINISTRATOR
dc.subject JUDICIAL PROCEEDINGS
dc.subject JUDICIARY
dc.subject JURISDICTION
dc.subject JURISDICTIONS
dc.subject LARGE DEBTORS
dc.subject LEGAL FRAMEWORK
dc.subject LEGAL FRAMEWORK FOR BANKRUPTCY
dc.subject LEGAL FRAMEWORKS
dc.subject LEGAL SYSTEM
dc.subject LEGISLATION
dc.subject LEGITIMATE CLAIMS
dc.subject LIMITED
dc.subject LIMITED LIABILITY
dc.subject LIQUIDATION
dc.subject LIQUIDATION OF COMPANIES
dc.subject LIQUIDATION PROCEEDINGS
dc.subject LIQUIDATOR
dc.subject LIQUIDITY
dc.subject LOANS FROM BANKS
dc.subject MACROECONOMIC CRISES
dc.subject MAJORITY OF CREDITORS
dc.subject MANAGERS
dc.subject MARKET VALUE
dc.subject MATURE MARKETS
dc.subject MODERN REORGANIZATION PROCEEDINGS
dc.subject MORAL HAZARD
dc.subject NEGOTIATION
dc.subject NET LOSS
dc.subject NET LOSSES
dc.subject NEW BANKRUPTCY
dc.subject NEW BANKRUPTCY LAW
dc.subject NON-PERFORMING LOANS
dc.subject NONPERFORMING LOANS
dc.subject NOTICE OF INSOLVENCY
dc.subject NPL
dc.subject ORDERLY LIQUIDATION
dc.subject PAYMENT TO CREDITORS
dc.subject PENDING LITIGATION
dc.subject PERSONAL GUARANTEES
dc.subject PLAN OF REORGANIZATION
dc.subject POSSESSION
dc.subject PRESENT VALUE
dc.subject PRIVATE BANKS
dc.subject PROCUREMENT
dc.subject PRODUCTIVITY
dc.subject PROTECTION OF CREDITOR
dc.subject PROTECTION OF EMPLOYEE
dc.subject PUBLIC FUNDS
dc.subject RECOVERY OF LOANS
dc.subject REHABILITATION PLAN
dc.subject REORGANIZATION
dc.subject REORGANIZATION PLAN
dc.subject REORGANIZATION PROCESS
dc.subject REORGANIZATION PROCESSES
dc.subject REORGANIZATIONS
dc.subject REPAYMENT
dc.subject RESOLUTION OF INSOLVENCY
dc.subject RESTRUCTURING PLAN
dc.subject RESTRUCTURING PROCESS
dc.subject RIGHTS OF CREDITORS
dc.subject RISK TAKING
dc.subject SALE OF ASSETS
dc.subject SALES REVENUE
dc.subject SECONDARY MARKET
dc.subject SECURITIES
dc.subject SHAREHOLDERS
dc.subject SOCIAL WELFARE
dc.subject SOCIETY
dc.subject STAKEHOLDERS
dc.subject STATE ASSET
dc.subject STATE BANK
dc.subject STATE BANK OF PAKISTAN
dc.subject TECHNICAL ASSISTANCE
dc.subject TRANSPARENCY
dc.subject TRUST CORPORATION
dc.subject TURNOVER
dc.subject UNSECURED DEBT
dc.subject UNSECURED LOANS
dc.subject VALUATION
dc.subject VALUATIONS
dc.subject VOLUNTARY LIQUIDATION
dc.subject WEALTH EFFECTS
dc.subject WINDING UP
dc.subject WINDING-UP
dc.title Pakistan - Strengthening the Insolvency Regime : Non-Lending Technical Assistance Final Report en
dspace.entity.type Publication
okr.date.disclosure 2012-05-01
okr.doctype Economic & Sector Work :: Insolvency Assessment (ROSC)
okr.doctype Economic & Sector Work
okr.docurl http://documents.worldbank.org/curated/en/2011/06/16251104/pakistan-strengthening-insolvency-regime-non-lending-technical-assistance
okr.globalpractice Finance and Markets
okr.globalpractice Governance
okr.identifier.externaldocumentum 000356161_20120502000709
okr.identifier.internaldocumentum 16251104
okr.identifier.report 68469
okr.language.supported en
okr.pdfurl http://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/2012/05/02/000356161_20120502000709/Rendered/PDF/684690ESW0WHIT0he0Insolvency0Regime.pdf en
okr.region.administrative South Asia
okr.region.country Pakistan
okr.sector Public Administration, Law, and Justice :: Law and justice
okr.sector Industry and trade :: General industry and trade sector
okr.topic Law and Development :: Corporate Law
okr.topic Finance and Financial Sector Development :: Debt Markets
okr.topic Banks and Banking Reform
okr.topic Finance and Financial Sector Development :: Access to Finance
okr.topic Finance and Financial Sector Development :: Bankruptcy and Resolution of Financial Distress
okr.unit Finance & PSD Unit (SASFP)
okr.volume 1 of 1
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