2012
DOI: 10.1007/s10603-012-9215-8
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Consumer Insolvency in the European Legal Context

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Cited by 21 publications
(6 citation statements)
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“…We must also consider that the BAPCPA reform of 2005 decreased the leniency of the US system, and its leniency level Our results are also consistent with the view that the personal bankruptcy legislation of the EU is very heterogenous among the countries based on the institutional path, ideology, or the interest groups in the economy and society (Ramsay 2012). The lack of heterogeneity can also be seen in papers urging for harmonisation (e.g., Niemi 2012). The differences in leniency explain why an EU regulation was also implemented (EU n.d.) on insolvency procedures to avoid the so-called 'forum shopping', the arbitraging opportunities among different county regulations.…”
Section: Resultssupporting
confidence: 80%
“…We must also consider that the BAPCPA reform of 2005 decreased the leniency of the US system, and its leniency level Our results are also consistent with the view that the personal bankruptcy legislation of the EU is very heterogenous among the countries based on the institutional path, ideology, or the interest groups in the economy and society (Ramsay 2012). The lack of heterogeneity can also be seen in papers urging for harmonisation (e.g., Niemi 2012). The differences in leniency explain why an EU regulation was also implemented (EU n.d.) on insolvency procedures to avoid the so-called 'forum shopping', the arbitraging opportunities among different county regulations.…”
Section: Resultssupporting
confidence: 80%
“…While entrepreneurs are offered a quick fresh start (with discharge within a short period of time) consumers generally have no access to discharge other than through a (long-term) 85 repayment plan. 86 France and Belgium are clear examples of Member States offering more generous discharge provisions for entrepreneurs than for consumers: only entrepreneurs can be declared bankrupt 87 and a repayment plan is not part of this commercial insolvency procedure. 88 Consumers, instead, are only discharged when having repaid a portion of outstanding debts over a certain period of time.…”
Section: Commercial Versus Consumer Insolvency Proceduresmentioning
confidence: 99%
“…in the late 1980s. 16 It is only since the 1990s, 17 and later in the wake of the global financial crisis, that many Member States have adopted, or reformed, national laws on consumer insolvency, thereby recognising the importance of enabling consumers to be discharged of non-business debts and get a second chance. 18 Rather than simply extending the scope of the existing discharge provisions (for entrepreneurs) to non-entrepreneurs, some jurisdictions have introduced specific parallel regimes for consumers.…”
mentioning
confidence: 99%
“…We have screened a multitude of secondary data sources containing information on policies that attempt to combat over-indebtedness (Dubois, 2012;European Commission, 2008;Habschick et al, 2007;IFF and ZEW, 2010;Kilborn, 2011;Micklitz, 2012;Niemi, 2012;Niemi et al, 2009;Niemi-Kiesiläinen and Henrikson, 2005;Reifner et al, 2003;World Bank, 2013). However, the information available is either too limited to allow for a sensitive analysis, 10 not comparable due to differences in collecting the data, 11 and/or only available for a small number of countries.…”
Section: Independent Variablesmentioning
confidence: 99%