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Ranking of Creditors in Insolvency: An Empirical Debate on Optimal Harmonization Practices

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Abstract

This paper reports the empirical evidence (both qualitative and quantitative) gathered by the author on the Italian legal treatment of (specific) small entrepreneurs as claimants. This evidence, alongside the additional considerations impacting the Italian insolvency legal system and community, are used to discuss the possible alternatives that the EU legislator may adopt in pursuing substantive harmonization in this area of law. The paper concludes with the author’s view on the optimal approach to substantive harmonization, at least under the current circumstances.
Original languageEnglish
Pages (from-to)9-40
Number of pages32
JournalNottingham Insolvency and Business Law eJournal
Volume4
Issue number2
Publication statusPublished - 2016

UN SDGs

This output contributes to the following UN Sustainable Development Goals (SDGs)

  1. SDG 8 - Decent Work and Economic Growth
    SDG 8 Decent Work and Economic Growth
  2. SDG 9 - Industry, Innovation, and Infrastructure
    SDG 9 Industry, Innovation, and Infrastructure

Keywords

  • ranking of creditors
  • insolvency
  • pari passu rule
  • artisans
  • MSMEs

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