Cookies Policy

This site uses cookies. By continuing to browse the site you are agreeing to our use of cookies.

I accept this policy

Find out more here


Brill’s MyBook program is exclusively available on BrillOnline Books and Journals. Students and scholars affiliated with an institution that has purchased a Brill E-Book on the BrillOnline platform automatically have access to the MyBook option for the title(s) acquired by the Library. Brill MyBook is a print-on-demand paperback copy which is sold at a favorably uniform low price.

Access this chapter

+ Tax (if applicable)

Chapter Summary

This introductory chapter of the book provides a coherent overview of the insolvency systems found around the world. Its intended audience includes academics, judges, lawyers, and policymakers and focuses on businesses rather than natural persons. The chapter discusses the nature of the costs and benefits arising from the various policy choices legislators have made. The terminology of insolvency law varies even within a single language. For example, most of the world uses in English the term "insolvency proceeding" to refer to a legal proceeding related to the financial distress of a business. Insolvency law is often misunderstood as a sort of legal mortuary when in fact it is a hospital where the assets and the expertise of a business injured by management mistakes or the vagaries of the free market are recapitalized or rechanneled to renewed productivity and social benefit.

Keywords: insolvency systems; lawyers; policymakers



Can't access your account?
  • Tools

  • Add to Favorites
  • Printable version
  • Email this page
  • Recommend to your library

    You must fill out fields marked with: *

    Librarian details
    Your details
    Why are you recommending this title?
    Select reason:
    A Global View of Business Insolvency Systems — Recommend this title to your library
  • Export citations
  • Key

  • Full access
  • Open Access
  • Partial/No accessInformation