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Copyright of Revista Foco (Interdisciplinary Studies Journal) is the property of Revista Foco and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of Revista Foco (Interdisciplinary Studies Journal) is the property of Revista Foco and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Information asymmetry about a firm's value has been identified in the literature as an obstacle in restructuring the debt of an insolvent firm. We explore the possibility of a restructuring under complete and symmetric information between a firm and its creditors in a creditor-friendly bankruptcy regime. Using a model, we determine the feasibility conditions for restructuring. Our results show that restructuring the firm's debts may not be possible even if it is known to the creditors that the firm's value under the present management is higher than that under a bankruptcy sale. The firm's value under restructuring must also be large enough to pay the full claim of the unsecured creditor and pay the secured creditor a little more than the claim payment they receive in a bankruptcy sale. The results highlight the role of creditors' legal rights in a creditor-friendly regime in leading a firm towards a bankruptcy sale even when the creditors know that the firm's value is more under the present management.

Copyright of Revista Foco (Interdisciplinary Studies Journal) is the property of Revista Foco and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

The purpose of this study is to examine and analyze law politics related to the execution of bankruptcy decisions against debtor assets abroad. The research method used is normative legal research with a qualitative descriptive analysis method approach, based on comparative law, with prescriptive analytical specifications. The research findings conclude that sovereignty is interpreted as the responsibility to improve and protect all national and international community interests, manifested in the form of the state's ability to interact and establish relations with countries in the world, as well as cooperate and coordinate bilaterally, multilaterally and in international organizations. The provisions on international bankruptcy in Law of the Republic of Indonesia Number 37 of 2004 concerning Bankruptcy and Suspension of Debt Payment Obligations or Undang-Undang Republik Indonesia Nomor 37 Tahun 2004 tentang Kepailitan dan Penundaan Kewajiban Pembayaran Utang (Bankruptcy Law) are similar to the Dutch Bankruptcy Law, there are no comprehensive regulations related to international bankruptcy. To ensure legal certainty, a legal policy is needed in the form of changes and updates to the Bankruptcy Law by adding articles to apply the principles of international bankruptcy in the Model Law, namely the Principle of Access, the Principle of Recognition, the Principle of Assistance and the Principle of Cooperation and Coordination, as applied in the US Bankruptcy Code Chapter 15. Article 299 of the Bankruptcy Law also needs to be amended so that the procedural law applied is the special procedural law for international bankruptcy. [ABSTRACT FROM AUTHOR]

Copyright of Journal of International Business Studies is the property of Springer Nature and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of Journal of College of Sharia & Islamic Studies is the property of Qatar University and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

This study primarily aims to elucidate the of legal protection for the debtor's activity when creditors don't Accept the Proposal of Financial Restructuring Procedure, utilizing the analytical approach as a primary approach, Through scrutinizing and analysing the Saudi bankruptcy law provisions law related to creditors' voting on the proposal of Financial Restructuring Procedure, and presenting judicial applications that encompass the study problem to arrive at a clearer legal conception of the problem causes and its ensuing effects, the comparative approach was utilized as much as the study required by demonstrating the legal position of the Jordanian insolvency law, the UAE bankruptcy law, and the Bahraini reorganization and bankruptcy law, concerning the study issue. Consequently, the main question revolved around: What legal protection does the bankruptcy law provide for the debtor's activity subject to financial restructuring procedure when creditors do not accept the proposal? To address that, the study was divided into two sections. The first section discussed the nature of financial restructuring procedure and its proposal, while the second section addressed voting on the financial restructuring procedure proposal and its outcomes by presenting judicial applications. The study yields with several findings, Notably, the bankruptcy law does not ensure legal protection for a debtor acting in good faith in case of creditors rejecting a proposal that meets fairness standards and is implementable. As a result, the court refuses to ratify the proposal, thereby terminating the financial restructuring procedure. Moreover, the study yields various recommendations, the most important of which are: advising the Saudi legislator to consider enabling the well-intentioned debtor to set a new voting date if creditors reject the proposal to attain the quorum of Creditors' Voting, by adding articles allowing proposal amendments for a re-voting, after the trustee prepare a report indicating his opinion on the feasibility of amending the proposal. [ABSTRACT FROM AUTHOR]

Objectives: This study examines the key provisions common to preventive measures against bankruptcy (preventive settlement and restructuring) and the declaration of bankruptcy in the Kuwaiti Bankruptcy Law (71/2020), comparing them with Islamic jurisprudence. Such is particularly relevant as many of these provisions received no treatment in the repealed articles (555-800) of the Commercial Law (68/80) or other Arab legislations, such as the Egyptian Law of Protective Reconciliation and Restructuring and Bankruptcy Declaration (11/2018). Methodology: This study employs three methodologies: an inductive approach to collecting legal and jurisprudential material, a deductive approach to the provisions under investigation, and a comparative approach to these provisions and Islamic jurisprudence. Findings: The study concludes that many of the shared provisions in the law are consistent with Islamic jurisprudence, while others differ. The application of these provisions may vary depending on the debtor's situation, whether they are bankrupt with debts exceeding assets or facing financial difficulties without entering bankruptcy. Originality: This study is the first jurisprudential analysis of the shared provisions between bankruptcy and its preventive measures in Kuwaiti Bankruptcy Law. The study includes several recommendations for aligning the provisions of this law with Islamic jurisprudence.

This study examined whether strengthening of creditors' rights impacts the selling cost behavior of firms or not? To investigate this question, the author exploited implementation of the Insolvency and Bankruptcy Code (IBC) in 2016 in India as an exogenous policy shock. The author found that selling cost of firms in India in the pre‐implementation period were not "sticky". Further, implementation of the IBC produced no impact on the selling cost behavior of Indian firms in the post‐implementation period. Nonetheless, legislation of the IBC was found to have lowered financial resources that firms devoted to their selling activities. In addition, firms that faced a higher risk of bankruptcy because of more leverage in the pre‐IBC period demonstrated greater response to promulgation of the IBC. Thus, it can be inferred that an effective bankruptcy reform has little impact on the selling cost behavior of firms but incentivizes them to devote lesser financial resources to their selling activities in order to lower their bankruptcy risk. [ABSTRACT FROM AUTHOR]

Practice has shown that bankruptcies can lead to problems of contaminated land for which no one takes responsibility. Generally speaking, this sets off avoidance and shifting of responsibility from the Government of the Republic of Croatia to regional and local self-government bodies and vice versa. Recently, the legislature has amended bankruptcy regulations several times, as well as a series of laws regulating environmental protection. The authors' intention is to highlight the necessity for more serious consideration of waste management regulations for bankrupt companies. [ABSTRACT FROM AUTHOR]