Publication Type
Blog Post
Version
acceptedVersion
Publication Date
2-2021
Abstract
Micro, small and medium-sized enterprises (MSMEs) represent about 90% of businesses and more than 50% of employment worldwide. Despite the economic relevance of MSMEs in most countries around the world, and even more in emerging markets, most insolvency jurisdictions do not address adequately the insolvency of MSMEs. In a recent article, entitled ‘Implementing an Insolvency Framework for Micro and Small Firms’ (International Insolvency Review, forthcoming), I seek to contribute to the existing literature on the insolvency treatment of MSMEs. After analysing the particular problems and features of MSMEs, as well as the insolvency reforms for MSMEs recently implemented in various countries around the world, including Australia, Colombia, Myanmar, Singapore and the United States, and the policy recommendations suggested by the World Bank and UNCITRAL, my paper proposes a new insolvency framework for MSMEs.
Keywords
Corporate insolvency, corporate workouts, small and medium enterprises
Discipline
Business Organizations Law | Commercial Law
Research Areas
Corporate, Finance and Securities Law
Publisher
World Bank and INSOL
Citation
Aurelio GURREA-MARTINEZ.
Implementing an efficient insolvency framework for micro and small firms. (2021).
Available at: https://ink.library.smu.edu.sg/sol_research/3703
Creative Commons License
This work is licensed under a Creative Commons Attribution-NonCommercial-No Derivative Works 4.0 International License.
Additional URL
https://www.law.ox.ac.uk/business-law-blog/blog/2021/02/implementing-efficient-insolvency-framework-micro-and-small-firms