Reforming Insolvency Systems in Latin America
Author: Malcolm Rowat Date: 6/1/1999 (PDF, 200KB)
Insolvency reforms remain on the drawing board in many countries in Latin America. Existing laws tend to be very old, formalistic, unenforced, and heavily skewed toward preserving the enterprise to protect employment, but at the expense of creditors. Judicial decisionmaking is unpredictable, and corruption is rampant. This Note assesses the weaknesses of insolvency law in Latin America and proposes some common solutions.