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December 26, 2008

Bankruptcy in Japan

I just came across a paper describing the various bankruptcy procedures in Japan (circa 2004), and their duration in practice. Japanese bankruptcy law is similar to US laws, but it has a "fast-track" procedure called civil rehabilitation. Introduced in April 2000, it has become the most used procedure. Why? According to a study by Professor Peng Xu at Hosei University, it takes 0.6 years on average from entry into the procedure to resolution. I checked the Doing Business number for Japan in closing a business: remarkably, it is exactly 0.6 years. This is another indication of the accuracy of this indicator in Doing Business.

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Well, I suppose that's better than having it drag out for years.


Does anyone have papers describing the various bankruptcy procedures in Uganda?


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