This book addresses the need for updated rules to manage businesses in financial distress during economic turmoil. It offers insights for legislators, policymakers, and professionals on insolvency laws, guided by the World Bank's Principles and Guidelines, complementing UNCITRAL's efforts in the field.
Bankruptcy in America is a booming business, with hundreds of thousands of ordinary Americans filing for bankruptcy each year. Is this dramatic growth a result of mushrooming debt or does it reflect a moral decline that permits the middle class to evade their debts? As We Forgive Our Debtors addresses these questions with hard empirical data drawn from bankruptcy court filings. The authors of this multidisciplinary study describe the law and the statistics in clear, nontechnical language, combining a thorough statistical description of the social and economic position of consumer bankrupts with human portraits of the debtors and creditors whose journeys have ended in bankruptcy court. Book jacket.