Bankruptcy from a procedural perspective
Abstract: Bankruptcy Law possesses a certain functionality, organization and structure which is not easily reconcilable with a contractualist or privatist view. The need for the coordination on the part of creditors (a central aspect of its correct functioning) demands that procedural instruments fo...
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| Language: | English |
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Universidad Católica del Norte
2020
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| Online Access: | http://www.scielo.cl/scielo.php?script=sci_arttext&pid=S0718-97532020000100201 |
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| Summary: | Abstract: Bankruptcy Law possesses a certain functionality, organization and structure which is not easily reconcilable with a contractualist or privatist view. The need for the coordination on the part of creditors (a central aspect of its correct functioning) demands that procedural instruments foresake the individual consideration of the interests of creditors’ sole interests, and in doing so reinforces the need for them to act as a group (the collective action problem). In accordance with this logic, the complete adaptation of procedural law in order to understand its purposes is hereby explained. In this context, bankruptcy procedural law avails of a series of instruments which seek to achieve the efficiency goals of the bankruptcy proceedings. |
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