The value of flexibility in insolvency procedures KU Leuven
During the past two decades a large number of countries around the world have made substantial changes to their insolvency systems. In many cases, the reforms entail a shift to a dual chapter insolvency system (i.e. liquidation and reorganization), inspired by the US Chapter 7/Chapter 11 procedures. However, empirical evidence from the US, Europe and Asia points to significant problems in many reorganization procedures, as for instance ...