B-READY: Business Insolvency Pillar 3: Operational Efficiency of Resolving Judicial Insolvency Proceedings

B-READY focuses on ten topics that are organized following the life cycle of the firm and its participation in the market while opening, operating (or expanding), and closing (or reorganizing) a business. The Business Insolvency topic measures key features of insolvency systems on a regulatory level. It also assesses the institutional and operational infrastructure associated with insolvency proceedings (judicial services), as well as the operational efficiency of insolvency proceedings across three different dimensions, or pillars. The first pillar assesses the quality of regulation pertaining to judicial insolvency proceedings—liquidation and reorganization, covering de jure features of a regulatory framework that are necessary for structured debt resolution processes and effective creditor and debtor regimes.

B-READY focuses on ten topics that are organized following the life cycle of the firm and its participation in the market while opening, operating (or expanding), and closing (or reorganizing) a business. The Business Insolvency topic measures key features of insolvency systems on a regulatory level. It also assesses the institutional and operational infrastructure associated with insolvency proceedings (judicial services), as well as the operational efficiency of insolvency proceedings across three different dimensions, or pillars. The overall topic score is generated by averaging the scores assigned to each of the three pillars (regulatory framework, public services, and efficiency) for that topic.

B-READY focuses on ten topics that are organized following the life cycle of the firm and its participation in the market while opening, operating (or expanding), and closing (or reorganizing) a business. The Business Insolvency topic measures key features of insolvency systems on a regulatory level. It also assesses the institutional and operational infrastructure associated with insolvency proceedings (judicial services), as well as the operational efficiency of insolvency proceedings across three different dimensions, or pillars. The second pillar measures the quality of institutional and operational infrastructure for judicial insolvency proceedings, thus assessing the de facto aspects of insolvency resolution mechanisms and the infrastructure required to implement the legal framework on insolvency.

B-READY focuses on ten topics that are organized following the life cycle of the firm and its participation in the market while opening, operating (or expanding), and closing (or reorganizing) a business. The Dispute Resolution topic measures efficiency and quality of the resolution of commercial disputes—those arising in the business context between firms—across three different dimensions, or pillars. The third pillar measures the reliability of dispute resolution, the time and cost required to resolve a dispute, as well as the time and cost associated with the recognition and enforcement of decisions.

B-READY focuses on ten topics that are organized following the life cycle of the firm and its participation in the market while opening, operating (or expanding), and closing (or reorganizing) a business. The Dispute Resolution topic measures efficiency and quality of the resolution of commercial disputes—those arising in the business context between firms—across three different dimensions, or pillars. The overall topic score is generated by averaging the scores assigned to each of the three pillars (regulatory framework, public services, and efficiency) for that topic.

B-READY focuses on ten topics that are organized following the life cycle of the firm and its participation in the market while opening, operating (or expanding), and closing (or reorganizing) a business. The Dispute Resolution topic measures efficiency and quality of the resolution of commercial disputes—those arising in the business context between firms—across three different dimensions, or pillars. The second pillar focuses on judicial organizational structure, courts’ digitization and transparency, as well as ADR-related services, thus capturing the de facto provision of public services.