Browsing by Author "Ayalke, Meaza"

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    The Ethiopian Law of Bankruptcy: Its Shortcomings in Comparison to Modern Laws of Bankruptcy and Areas of Concern for Its Revision
    (Addis Ababa University, 2011-10) Ayalke, Meaza; Zekarias Keneaa(Associate Professor)
    The Ethiopian law of bankruptcy is said to be outdated and needs revi sion. This paper compares the Ethiopian bankruptcy law with modern laws of bankruptcy of four se lected countries and international guidelines/principles for the same. The laws are the US and France bankruptcy laws from the debtor-friendly bankruptcy laws and the German and British bankruptcy laws from the creditor-friendly bankruptcy laws. The international guide lines are the World Bank Principles and Guidelines for Effective Inso lvency and Creditor Rights Systems and the Un ited Nations Commission on International Trade Law, Legislative Guide on Insolvency Law. The research reveals that some of the provisions of the Ethiopian law of bankruptcy are not compatible with the modern laws and principles while some are to some extent compatible. Although it is difficult to say that the Ethiopian bankruptcy law is totally backward, the law needs revision to be among the modern ones and current