The Economics of Bankrupcy, Reorganisation and Liquidation: Lessons for East European Transitional Economies

30 Pages Posted: 29 Sep 2009

See all articles by Iraj Hashi

Iraj Hashi

Staffordshire University Business School; CASE - Center for Social and Economic Research

Date Written: May 1, 1995

Abstract

The purpose of this paper is to analyse the economic implications of the bankruptcy procedures in Western market economies with a view to draw appropriate lessons for the transitional economies of Central and Eastern Europe. In Section II, we shall discuss the bankruptcy procedures in four major market eocnomies, emphasising the conditions under which the financially distressed firms are reorganised or liquidated. Section III focuses on the relative efficacy of the 'reorganisation' option in comparison with the 'liquidation' option of the bankruptcy procedures. Section IV highlights the lessons that East European transitional economies may learn from the experience of market economies, drawing attention to a number of important areas of concern in any discussion of the design and implementation of bankruptcy procedures.

Keywords: Eastern Europe, transition, bankrupcy, reorganisation, liquidation

Suggested Citation

Hashi, Iraj, The Economics of Bankrupcy, Reorganisation and Liquidation: Lessons for East European Transitional Economies (May 1, 1995). CASE Network Studies and Analyses No. 41. Available at SSRN: https://ssrn.com/abstract=1479548 or http://dx.doi.org/10.2139/ssrn.1479548

Iraj Hashi (Contact Author)

Staffordshire University Business School ( email )

Stoke on Trent
United Kingdom

CASE - Center for Social and Economic Research ( email )

Al. Jana Pawła II 61/212
Warsaw, 01-031
Poland

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