Publication Type

Journal Article

Version

publishedVersion

Publication Date

9-2021

Abstract

Micro-, small-, and medium-sized enterprises (MSMEs) represent the vast majority of businesses in most countries around the world. Despite the economic relevance of these firms, most insolvency jurisdictions do not provide adequate responses to MSMEs. Moreover, with a few exceptions, the academic literature on insolvency law has not traditionally focused on the treatment of MSMEs in insolvency. This article seeks to contribute to the debate by exploring the primary features and problems of MSMEs in insolvency as well as the weaknesses of the ordinary insolvency framework to deal with MSMEs. It also provides a general overview of the primary reforms and policy recommendations taking place around the world to deal with MSMEs in insolvency. The article concludes by suggesting several strategies to design an efficient insolvency framework for MSMEs.

Keywords

Insolvency, Restructuring, Firms, MSME

Discipline

Bankruptcy Law | Business Organizations Law | Commercial Law | Entrepreneurial and Small Business Operations

Research Areas

Corporate, Finance and Securities Law

Publication

International Insolvency Review

Volume

30

Issue

S1

First Page

S46

Last Page

S66

ISSN

1180-0518

Identifier

10.1002/iir.1422

Publisher

Wiley: 24 months

Copyright Owner and License

Authors-CC-BY

Creative Commons License

Creative Commons Attribution-Share Alike 4.0 International License
This work is licensed under a Creative Commons Attribution-Share Alike 4.0 International License.

Additional URL

https://doi.org/10.1002/iir.1422

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