Insolvency

Insolvency is a by-product of a market economy. In market economies, some businesses fail. Insolvency laws and procedures provide a safety net. They promote fairer, more efficient re-distribution of assets from a failed business through liquidation or reorganisation. Insolvency laws provide a collective standard for creditors as opposed to a first-come-first-served practice that benefits only the most aggressive creditors.

• About the EBRD and insolvency reform

• International standards

• Insolvency assessments

• Core principles

• Insolvency office holder principles