“No Way Out” : The Lack of Efficient Insolvency Regimes in the MENA Region

This paper provides a comparative summary of the payout phase of insolvency systems in the MENA Region. Countries in the region generally have weaker restructuring and liquidation systems than those in most other regions. The paper summarizes many...

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Main Author:	Uttamchandani, Mahesh
Format:	Policy Research Working Paper
Language:	English
Published:	2012
Subjects:	ACCESS FOR DEBTORS ADMINISTRATIVE BODIES ALTERNATIVE DISPUTE RESOLUTION ASSET STRIPPING ASSET VALUE ASSETS AUCTION PROCEDURE AUCTION PROCEDURES BALANCE SHEET BANKRUPTCIES BANKRUPTCY BANKRUPTCY CASE BANKRUPTCY CASES BANKRUPTCY CREDITORS BANKRUPTCY DECLARATION BANKRUPTCY FILING BANKRUPTCY FILINGS BANKRUPTCY LAW BANKRUPTCY LAW REFORM BANKRUPTCY LAWS BANKRUPTCY PETITION BANKRUPTCY PROCEDURE BANKRUPTCY PROCEDURES BANKRUPTCY PROCEEDING BANKRUPTCY PROCEEDINGS BANKRUPTCY PROCESS BANKRUPTCY REGIMES BANKRUPTCY RELIEF BANKRUPTCY SYSTEM BANKRUPTCY SYSTEMS CASE BACKLOGS CESSATION OF PAYMENTS CIVIL LAW CLAIM COLLATERAL COLLECTION BY CREDITORS COLLECTION EFFORTS COMMENCEMENT OF BANKRUPTCY COMMERCIAL COURTS COMMERCIAL INSOLVENCY COMMERCIAL LAWS COMMERCIAL TRANSACTIONS COMPULSORY LIQUIDATIONS CONSEQUENCES OF BANKRUPTCY CORPORATE DEBTORS CORPORATE INSOLVENCY COURT APPROVAL COURT DECISION COURT RESTRUCTURING COURT SYSTEMS CREDIT MARKETS CREDITOR CREDITOR ACTION CREDITOR ACTIONS CREDITOR HARASSMENT CREDITOR PRIORITIES CREDITOR PROTECTION CREDITOR RIGHTS CREDITOR RIGHTS SYSTEMS CREDITORS COMMITTEE CREDITORS INTERESTS CREDITORS RIGHTS CRIMINAL LAW DEBT DEBT RESTRUCTURING DEBTOR DEBTOR COMPANY DEBTOR IN BANKRUPTCY DEBTOR MANAGEMENT DEBTOR-CREDITOR SYSTEMS DEBTORS DEBTS DECLARATION OF BANKRUPTCY DISPOSAL OF ASSETS DISPOSITION OF ASSETS DISSENTING CREDITORS DISTRESSED COMPANIES DISTRIBUTION TO CREDITORS EFFECTIVE BANKRUPTCY EFFECTIVE INSOLVENCY EFFICIENT INSOLVENCY EFFICIENT LIQUIDATION EMPLOYEE PAYMENTS EMPLOYEE WAGES EQUITY SWAPS ESTATE EXIT MECHANISMS FILING DATE FINANCIAL CRISES FINANCIAL DISTRESS FINANCIAL INFORMATION FINANCIAL TROUBLES FORMAL INSOLVENCY FRAUD FRAUDULENT CONVEYANCES FRAUDULENT TRANSFERS GENERAL CREDITORS GOING CONCERN GUARANTEE PAYMENT INDEPENDENT INSOLVENCY REPRESENTATIVE INDIVIDUAL CREDITOR INSOLVENCY ADMINISTRATOR INSOLVENCY ADMINISTRATORS INSOLVENCY AREA INSOLVENCY CASE INSOLVENCY FILING INSOLVENCY FILINGS INSOLVENCY LAWS INSOLVENCY PRACTITIONERS INSOLVENCY PROCEDURE INSOLVENCY PROCEDURES INSOLVENCY PROCEEDING INSOLVENCY PROCEEDINGS INSOLVENCY PROCESS INSOLVENCY REFORM INSOLVENCY REGIME INSOLVENCY REGIMES INSOLVENCY SYSTEM INSOLVENCY SYSTEMS INSOLVENT INSTITUTIONAL INFRASTRUCTURE INSUFFICIENT FUND INVESTMENT CLIMATE JUDGE JUDGES JUDICIARY JURISDICTION JURISDICTIONS LAST RESORT LEGAL PROTECTIONS LEGAL SYSTEMS LEGISLATIVE GUIDE ON INSOLVENCY LAW LENDERS LIMITED LIABILITY LIQUIDATION LIQUIDATION COSTS LIQUIDATION PROCEDURE LIQUIDATION PROCEDURES LIQUIDATION PROCESS LIQUIDATION SYSTEMS LIQUIDATOR LIQUIDATORS LOSS OF ASSET MAJOR CREDITORS MAJORITY OF CREDITORS MULTIPLE CREDITORS NEGOTIABLE INSTRUMENTS NEGOTIATION NEGOTIATIONS NEGOTIATIONS BETWEEN DEBTOR OPERATION OF INSOLVENCY LAW ORDINARY CREDITOR OUT OF COURT WORKOUTS OUT-OF-COURT WORKOUTS PENALTIES PENALTY POST-PETITION FINANCING POTENTIAL INSOLVENCY PRINCIPLES OF BANKRUPTCY PRIOR TO INSOLVENCY PRIORITIES OF CLAIMS PRIORITY OF CREDITORS PRIORITY RIGHTS PRIVILEGED CREDITORS PUBLIC FUNDS RECOVERY RATE RECOVERY RATES RELIEF FROM CREDITOR REMEDIES REORGANIZATION REORGANIZATION LAW REORGANIZATION PLAN REORGANIZATION PROCEDURE REORGANIZATION PROCEDURES REORGANIZATION PROCEEDING REORGANIZATION PROCESS REORGANIZATION PROCESSES REORGANIZATIONS REPAYMENT RESTRUCTURING OF DEBT RETURN ON ASSETS RIGHTS OF CREDITORS SECURITY DEPOSIT SETTLEMENT SETTLEMENT PROCEDURES SMALL BUSINESSES STAY ON CREDITOR TRADE CREDIT TRADE DEBTS TRANSACTIONS LAW TRUSTEE UNAUTHORIZED DISPOSITION UNJUSTIFIED BANKRUPTCY UNSECURED CREDITORS USE OF BANKRUPTCY VALUABLE ASSETS VALUE OF ASSET WINDING UP WORKOUTS
Online Access:	http://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000158349_20110324093837 http://hdl.handle.net/10986/3375

id	okr-10986-3375
recordtype	oai_dc
repository_type	Digital Repository
institution_category	Foreign Institution
institution	Digital Repositories
building	World Bank Open Knowledge Repository
collection	World Bank
language	English
topic	ACCESS FOR DEBTORS ADMINISTRATIVE BODIES ALTERNATIVE DISPUTE RESOLUTION ASSET STRIPPING ASSET VALUE ASSETS AUCTION PROCEDURE AUCTION PROCEDURES BALANCE SHEET BANKRUPTCIES BANKRUPTCY BANKRUPTCY CASE BANKRUPTCY CASES BANKRUPTCY CREDITORS BANKRUPTCY DECLARATION BANKRUPTCY FILING BANKRUPTCY FILINGS BANKRUPTCY LAW BANKRUPTCY LAW REFORM BANKRUPTCY LAWS BANKRUPTCY PETITION BANKRUPTCY PROCEDURE BANKRUPTCY PROCEDURES BANKRUPTCY PROCEEDING BANKRUPTCY PROCEEDINGS BANKRUPTCY PROCESS BANKRUPTCY REGIMES BANKRUPTCY RELIEF BANKRUPTCY SYSTEM BANKRUPTCY SYSTEMS CASE BACKLOGS CESSATION OF PAYMENTS CIVIL LAW CLAIM COLLATERAL COLLECTION BY CREDITORS COLLECTION EFFORTS COMMENCEMENT OF BANKRUPTCY COMMERCIAL COURTS COMMERCIAL INSOLVENCY COMMERCIAL LAWS COMMERCIAL TRANSACTIONS COMPULSORY LIQUIDATIONS CONSEQUENCES OF BANKRUPTCY CORPORATE DEBTORS CORPORATE INSOLVENCY COURT APPROVAL COURT DECISION COURT RESTRUCTURING COURT SYSTEMS CREDIT MARKETS CREDITOR CREDITOR ACTION CREDITOR ACTIONS CREDITOR HARASSMENT CREDITOR PRIORITIES CREDITOR PROTECTION CREDITOR RIGHTS CREDITOR RIGHTS SYSTEMS CREDITORS COMMITTEE CREDITORS INTERESTS CREDITORS RIGHTS CRIMINAL LAW DEBT DEBT RESTRUCTURING DEBTOR DEBTOR COMPANY DEBTOR IN BANKRUPTCY DEBTOR MANAGEMENT DEBTOR-CREDITOR SYSTEMS DEBTORS DEBTS DECLARATION OF BANKRUPTCY DISPOSAL OF ASSETS DISPOSITION OF ASSETS DISSENTING CREDITORS DISTRESSED COMPANIES DISTRIBUTION TO CREDITORS EFFECTIVE BANKRUPTCY EFFECTIVE INSOLVENCY EFFICIENT INSOLVENCY EFFICIENT LIQUIDATION EMPLOYEE PAYMENTS EMPLOYEE WAGES EQUITY SWAPS ESTATE EXIT MECHANISMS FILING DATE FINANCIAL CRISES FINANCIAL DISTRESS FINANCIAL INFORMATION FINANCIAL TROUBLES FORMAL INSOLVENCY FRAUD FRAUDULENT CONVEYANCES FRAUDULENT TRANSFERS GENERAL CREDITORS GOING CONCERN GUARANTEE PAYMENT INDEPENDENT INSOLVENCY REPRESENTATIVE INDIVIDUAL CREDITOR INSOLVENCY ADMINISTRATOR INSOLVENCY ADMINISTRATORS INSOLVENCY AREA INSOLVENCY CASE INSOLVENCY FILING INSOLVENCY FILINGS INSOLVENCY LAWS INSOLVENCY PRACTITIONERS INSOLVENCY PROCEDURE INSOLVENCY PROCEDURES INSOLVENCY PROCEEDING INSOLVENCY PROCEEDINGS INSOLVENCY PROCESS INSOLVENCY REFORM INSOLVENCY REGIME INSOLVENCY REGIMES INSOLVENCY SYSTEM INSOLVENCY SYSTEMS INSOLVENT INSTITUTIONAL INFRASTRUCTURE INSUFFICIENT FUND INVESTMENT CLIMATE JUDGE JUDGES JUDICIARY JURISDICTION JURISDICTIONS LAST RESORT LEGAL PROTECTIONS LEGAL SYSTEMS LEGISLATIVE GUIDE ON INSOLVENCY LAW LENDERS LIMITED LIABILITY LIQUIDATION LIQUIDATION COSTS LIQUIDATION PROCEDURE LIQUIDATION PROCEDURES LIQUIDATION PROCESS LIQUIDATION SYSTEMS LIQUIDATOR LIQUIDATORS LOSS OF ASSET MAJOR CREDITORS MAJORITY OF CREDITORS MULTIPLE CREDITORS NEGOTIABLE INSTRUMENTS NEGOTIATION NEGOTIATIONS NEGOTIATIONS BETWEEN DEBTOR OPERATION OF INSOLVENCY LAW ORDINARY CREDITOR OUT OF COURT WORKOUTS OUT-OF-COURT WORKOUTS PENALTIES PENALTY POST-PETITION FINANCING POTENTIAL INSOLVENCY PRINCIPLES OF BANKRUPTCY PRIOR TO INSOLVENCY PRIORITIES OF CLAIMS PRIORITY OF CREDITORS PRIORITY RIGHTS PRIVILEGED CREDITORS PUBLIC FUNDS RECOVERY RATE RECOVERY RATES RELIEF FROM CREDITOR REMEDIES REORGANIZATION REORGANIZATION LAW REORGANIZATION PLAN REORGANIZATION PROCEDURE REORGANIZATION PROCEDURES REORGANIZATION PROCEEDING REORGANIZATION PROCESS REORGANIZATION PROCESSES REORGANIZATIONS REPAYMENT RESTRUCTURING OF DEBT RETURN ON ASSETS RIGHTS OF CREDITORS SECURITY DEPOSIT SETTLEMENT SETTLEMENT PROCEDURES SMALL BUSINESSES STAY ON CREDITOR TRADE CREDIT TRADE DEBTS TRANSACTIONS LAW TRUSTEE UNAUTHORIZED DISPOSITION UNJUSTIFIED BANKRUPTCY UNSECURED CREDITORS USE OF BANKRUPTCY VALUABLE ASSETS VALUE OF ASSET WINDING UP WORKOUTS
spellingShingle	ACCESS FOR DEBTORS ADMINISTRATIVE BODIES ALTERNATIVE DISPUTE RESOLUTION ASSET STRIPPING ASSET VALUE ASSETS AUCTION PROCEDURE AUCTION PROCEDURES BALANCE SHEET BANKRUPTCIES BANKRUPTCY BANKRUPTCY CASE BANKRUPTCY CASES BANKRUPTCY CREDITORS BANKRUPTCY DECLARATION BANKRUPTCY FILING BANKRUPTCY FILINGS BANKRUPTCY LAW BANKRUPTCY LAW REFORM BANKRUPTCY LAWS BANKRUPTCY PETITION BANKRUPTCY PROCEDURE BANKRUPTCY PROCEDURES BANKRUPTCY PROCEEDING BANKRUPTCY PROCEEDINGS BANKRUPTCY PROCESS BANKRUPTCY REGIMES BANKRUPTCY RELIEF BANKRUPTCY SYSTEM BANKRUPTCY SYSTEMS CASE BACKLOGS CESSATION OF PAYMENTS CIVIL LAW CLAIM COLLATERAL COLLECTION BY CREDITORS COLLECTION EFFORTS COMMENCEMENT OF BANKRUPTCY COMMERCIAL COURTS COMMERCIAL INSOLVENCY COMMERCIAL LAWS COMMERCIAL TRANSACTIONS COMPULSORY LIQUIDATIONS CONSEQUENCES OF BANKRUPTCY CORPORATE DEBTORS CORPORATE INSOLVENCY COURT APPROVAL COURT DECISION COURT RESTRUCTURING COURT SYSTEMS CREDIT MARKETS CREDITOR CREDITOR ACTION CREDITOR ACTIONS CREDITOR HARASSMENT CREDITOR PRIORITIES CREDITOR PROTECTION CREDITOR RIGHTS CREDITOR RIGHTS SYSTEMS CREDITORS COMMITTEE CREDITORS INTERESTS CREDITORS RIGHTS CRIMINAL LAW DEBT DEBT RESTRUCTURING DEBTOR DEBTOR COMPANY DEBTOR IN BANKRUPTCY DEBTOR MANAGEMENT DEBTOR-CREDITOR SYSTEMS DEBTORS DEBTS DECLARATION OF BANKRUPTCY DISPOSAL OF ASSETS DISPOSITION OF ASSETS DISSENTING CREDITORS DISTRESSED COMPANIES DISTRIBUTION TO CREDITORS EFFECTIVE BANKRUPTCY EFFECTIVE INSOLVENCY EFFICIENT INSOLVENCY EFFICIENT LIQUIDATION EMPLOYEE PAYMENTS EMPLOYEE WAGES EQUITY SWAPS ESTATE EXIT MECHANISMS FILING DATE FINANCIAL CRISES FINANCIAL DISTRESS FINANCIAL INFORMATION FINANCIAL TROUBLES FORMAL INSOLVENCY FRAUD FRAUDULENT CONVEYANCES FRAUDULENT TRANSFERS GENERAL CREDITORS GOING CONCERN GUARANTEE PAYMENT INDEPENDENT INSOLVENCY REPRESENTATIVE INDIVIDUAL CREDITOR INSOLVENCY ADMINISTRATOR INSOLVENCY ADMINISTRATORS INSOLVENCY AREA INSOLVENCY CASE INSOLVENCY FILING INSOLVENCY FILINGS INSOLVENCY LAWS INSOLVENCY PRACTITIONERS INSOLVENCY PROCEDURE INSOLVENCY PROCEDURES INSOLVENCY PROCEEDING INSOLVENCY PROCEEDINGS INSOLVENCY PROCESS INSOLVENCY REFORM INSOLVENCY REGIME INSOLVENCY REGIMES INSOLVENCY SYSTEM INSOLVENCY SYSTEMS INSOLVENT INSTITUTIONAL INFRASTRUCTURE INSUFFICIENT FUND INVESTMENT CLIMATE JUDGE JUDGES JUDICIARY JURISDICTION JURISDICTIONS LAST RESORT LEGAL PROTECTIONS LEGAL SYSTEMS LEGISLATIVE GUIDE ON INSOLVENCY LAW LENDERS LIMITED LIABILITY LIQUIDATION LIQUIDATION COSTS LIQUIDATION PROCEDURE LIQUIDATION PROCEDURES LIQUIDATION PROCESS LIQUIDATION SYSTEMS LIQUIDATOR LIQUIDATORS LOSS OF ASSET MAJOR CREDITORS MAJORITY OF CREDITORS MULTIPLE CREDITORS NEGOTIABLE INSTRUMENTS NEGOTIATION NEGOTIATIONS NEGOTIATIONS BETWEEN DEBTOR OPERATION OF INSOLVENCY LAW ORDINARY CREDITOR OUT OF COURT WORKOUTS OUT-OF-COURT WORKOUTS PENALTIES PENALTY POST-PETITION FINANCING POTENTIAL INSOLVENCY PRINCIPLES OF BANKRUPTCY PRIOR TO INSOLVENCY PRIORITIES OF CLAIMS PRIORITY OF CREDITORS PRIORITY RIGHTS PRIVILEGED CREDITORS PUBLIC FUNDS RECOVERY RATE RECOVERY RATES RELIEF FROM CREDITOR REMEDIES REORGANIZATION REORGANIZATION LAW REORGANIZATION PLAN REORGANIZATION PROCEDURE REORGANIZATION PROCEDURES REORGANIZATION PROCEEDING REORGANIZATION PROCESS REORGANIZATION PROCESSES REORGANIZATIONS REPAYMENT RESTRUCTURING OF DEBT RETURN ON ASSETS RIGHTS OF CREDITORS SECURITY DEPOSIT SETTLEMENT SETTLEMENT PROCEDURES SMALL BUSINESSES STAY ON CREDITOR TRADE CREDIT TRADE DEBTS TRANSACTIONS LAW TRUSTEE UNAUTHORIZED DISPOSITION UNJUSTIFIED BANKRUPTCY UNSECURED CREDITORS USE OF BANKRUPTCY VALUABLE ASSETS VALUE OF ASSET WINDING UP WORKOUTS Uttamchandani, Mahesh “No Way Out” : The Lack of Efficient Insolvency Regimes in the MENA Region
geographic_facet	Middle East and North Africa Middle East and North Africa Middle East and North Africa
relation	Policy Research working paper ; no. WPS 5609
description	This paper provides a comparative summary of the payout phase of insolvency systems in the MENA Region. Countries in the region generally have weaker restructuring and liquidation systems than those in most other regions. The paper summarizes many of the weaknesses common across the region.
format	Publications & Research :: Policy Research Working Paper
author	Uttamchandani, Mahesh
author_facet	Uttamchandani, Mahesh
author_sort	Uttamchandani, Mahesh
title	“No Way Out” : The Lack of Efficient Insolvency Regimes in the MENA Region
title_short	“No Way Out” : The Lack of Efficient Insolvency Regimes in the MENA Region
title_full	“No Way Out” : The Lack of Efficient Insolvency Regimes in the MENA Region
title_fullStr	“No Way Out” : The Lack of Efficient Insolvency Regimes in the MENA Region
title_full_unstemmed	“No Way Out” : The Lack of Efficient Insolvency Regimes in the MENA Region
title_sort	“no way out” : the lack of efficient insolvency regimes in the mena region
publishDate	2012
url	http://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000158349_20110324093837 http://hdl.handle.net/10986/3375
_version_	1764386880815628288
spelling	okr-10986-33752021-04-23T14:02:09Z “No Way Out” : The Lack of Efficient Insolvency Regimes in the MENA Region Uttamchandani, Mahesh ACCESS FOR DEBTORS ADMINISTRATIVE BODIES ALTERNATIVE DISPUTE RESOLUTION ASSET STRIPPING ASSET VALUE ASSETS AUCTION PROCEDURE AUCTION PROCEDURES BALANCE SHEET BANKRUPTCIES BANKRUPTCY BANKRUPTCY CASE BANKRUPTCY CASES BANKRUPTCY CREDITORS BANKRUPTCY DECLARATION BANKRUPTCY FILING BANKRUPTCY FILINGS BANKRUPTCY LAW BANKRUPTCY LAW REFORM BANKRUPTCY LAWS BANKRUPTCY PETITION BANKRUPTCY PROCEDURE BANKRUPTCY PROCEDURES BANKRUPTCY PROCEEDING BANKRUPTCY PROCEEDINGS BANKRUPTCY PROCESS BANKRUPTCY REGIMES BANKRUPTCY RELIEF BANKRUPTCY SYSTEM BANKRUPTCY SYSTEMS CASE BACKLOGS CESSATION OF PAYMENTS CIVIL LAW CLAIM COLLATERAL COLLECTION BY CREDITORS COLLECTION EFFORTS COMMENCEMENT OF BANKRUPTCY COMMERCIAL COURTS COMMERCIAL INSOLVENCY COMMERCIAL LAWS COMMERCIAL TRANSACTIONS COMPULSORY LIQUIDATIONS CONSEQUENCES OF BANKRUPTCY CORPORATE DEBTORS CORPORATE INSOLVENCY COURT APPROVAL COURT DECISION COURT RESTRUCTURING COURT SYSTEMS CREDIT MARKETS CREDITOR CREDITOR ACTION CREDITOR ACTIONS CREDITOR HARASSMENT CREDITOR PRIORITIES CREDITOR PROTECTION CREDITOR RIGHTS CREDITOR RIGHTS SYSTEMS CREDITORS COMMITTEE CREDITORS INTERESTS CREDITORS RIGHTS CRIMINAL LAW DEBT DEBT RESTRUCTURING DEBTOR DEBTOR COMPANY DEBTOR IN BANKRUPTCY DEBTOR MANAGEMENT DEBTOR-CREDITOR SYSTEMS DEBTORS DEBTS DECLARATION OF BANKRUPTCY DISPOSAL OF ASSETS DISPOSITION OF ASSETS DISSENTING CREDITORS DISTRESSED COMPANIES DISTRIBUTION TO CREDITORS EFFECTIVE BANKRUPTCY EFFECTIVE INSOLVENCY EFFICIENT INSOLVENCY EFFICIENT LIQUIDATION EMPLOYEE PAYMENTS EMPLOYEE WAGES EQUITY SWAPS ESTATE EXIT MECHANISMS FILING DATE FINANCIAL CRISES FINANCIAL DISTRESS FINANCIAL INFORMATION FINANCIAL TROUBLES FORMAL INSOLVENCY FRAUD FRAUDULENT CONVEYANCES FRAUDULENT TRANSFERS GENERAL CREDITORS GOING CONCERN GUARANTEE PAYMENT INDEPENDENT INSOLVENCY REPRESENTATIVE INDIVIDUAL CREDITOR INSOLVENCY ADMINISTRATOR INSOLVENCY ADMINISTRATORS INSOLVENCY AREA INSOLVENCY CASE INSOLVENCY FILING INSOLVENCY FILINGS INSOLVENCY LAWS INSOLVENCY PRACTITIONERS INSOLVENCY PROCEDURE INSOLVENCY PROCEDURES INSOLVENCY PROCEEDING INSOLVENCY PROCEEDINGS INSOLVENCY PROCESS INSOLVENCY REFORM INSOLVENCY REGIME INSOLVENCY REGIMES INSOLVENCY SYSTEM INSOLVENCY SYSTEMS INSOLVENT INSTITUTIONAL INFRASTRUCTURE INSUFFICIENT FUND INVESTMENT CLIMATE JUDGE JUDGES JUDICIARY JURISDICTION JURISDICTIONS LAST RESORT LEGAL PROTECTIONS LEGAL SYSTEMS LEGISLATIVE GUIDE ON INSOLVENCY LAW LENDERS LIMITED LIABILITY LIQUIDATION LIQUIDATION COSTS LIQUIDATION PROCEDURE LIQUIDATION PROCEDURES LIQUIDATION PROCESS LIQUIDATION SYSTEMS LIQUIDATOR LIQUIDATORS LOSS OF ASSET MAJOR CREDITORS MAJORITY OF CREDITORS MULTIPLE CREDITORS NEGOTIABLE INSTRUMENTS NEGOTIATION NEGOTIATIONS NEGOTIATIONS BETWEEN DEBTOR OPERATION OF INSOLVENCY LAW ORDINARY CREDITOR OUT OF COURT WORKOUTS OUT-OF-COURT WORKOUTS PENALTIES PENALTY POST-PETITION FINANCING POTENTIAL INSOLVENCY PRINCIPLES OF BANKRUPTCY PRIOR TO INSOLVENCY PRIORITIES OF CLAIMS PRIORITY OF CREDITORS PRIORITY RIGHTS PRIVILEGED CREDITORS PUBLIC FUNDS RECOVERY RATE RECOVERY RATES RELIEF FROM CREDITOR REMEDIES REORGANIZATION REORGANIZATION LAW REORGANIZATION PLAN REORGANIZATION PROCEDURE REORGANIZATION PROCEDURES REORGANIZATION PROCEEDING REORGANIZATION PROCESS REORGANIZATION PROCESSES REORGANIZATIONS REPAYMENT RESTRUCTURING OF DEBT RETURN ON ASSETS RIGHTS OF CREDITORS SECURITY DEPOSIT SETTLEMENT SETTLEMENT PROCEDURES SMALL BUSINESSES STAY ON CREDITOR TRADE CREDIT TRADE DEBTS TRANSACTIONS LAW TRUSTEE UNAUTHORIZED DISPOSITION UNJUSTIFIED BANKRUPTCY UNSECURED CREDITORS USE OF BANKRUPTCY VALUABLE ASSETS VALUE OF ASSET WINDING UP WORKOUTS This paper provides a comparative summary of the payout phase of insolvency systems in the MENA Region. Countries in the region generally have weaker restructuring and liquidation systems than those in most other regions. The paper summarizes many of the weaknesses common across the region. 2012-03-19T18:01:19Z 2012-03-19T18:01:19Z 2011-03-01 http://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000158349_20110324093837 http://hdl.handle.net/10986/3375 English Policy Research working paper ; no. WPS 5609 CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank Publications & Research :: Policy Research Working Paper Middle East and North Africa Middle East and North Africa Middle East and North Africa

“No Way Out” : The Lack of Efficient Insolvency Regimes in the MENA Region

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