Accountability Asset Recovery: A Leadership & Sustainability Initiative Receivership Is NOT Releasership

presented at 41st MEEA / ASSA Annual Meeting January 3-7, 2021 Chicago, IL USA Session 11: Institutions and Political Economy January 7, 2021 21:00 to 22:30

Posted: 18 Mar 2021

Date Written: January 7, 2021

Abstract

For the effective recovery of qualified assets, Receivership is NOT releasership, that is to say the improper disposition of recovered assets. Insolvency practitioner overreach has become macro critical to the stability of the global financial system.

Introduction to the Problem, Its Root Causes and Institutional Concern

“There are Institutions that are just not there.”
Dr. Ngozi Okonjo-Iweala, former Finance Minister of Nigeria.

The absence of institutional capacity for Receivership has caused Receivership practice to lie in the gap in the region of an unobservable externality, whereby personal misconduct being practiced has gone unchecked until most recently.

“We have seen cases where civil society organizations, (CSOs), were extremely active proposing solutions, giving ideas and where they were listened to; cases where eventually they ended up being sort of captured by organizations that were so devious and insidious and smart about enrolling it into their own purposes.” IMF Managing Director and Chair, Christine Lagarde

Keywords: Distributed, Ledger Grand Corruption: state capture, undue influence, tailor-made law, political patronage, Institutional Change, Public Private Partnership, Rule of Law, Sustainable Development Goals

JEL Classification: G2, G28, K, K33, P, P16, P37

Suggested Citation

Sheldon-London, Monika, Accountability Asset Recovery: A Leadership & Sustainability Initiative Receivership Is NOT Releasership (January 7, 2021). presented at 41st MEEA / ASSA Annual Meeting January 3-7, 2021 Chicago, IL USA Session 11: Institutions and Political Economy January 7, 2021 21:00 to 22:30, Available at SSRN: https://ssrn.com/abstract=3775839 or http://dx.doi.org/10.2139/ssrn.3775839

Monika Sheldon-London (Contact Author)

Alpha FTS ( email )

United States

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