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Disclaiming onerous property in insolvency: A comparative study
Author(s) -
Omar Paul J.
Publication year - 2010
Publication title -
international insolvency review
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.125
H-Index - 7
eISSN - 1099-1107
pISSN - 1180-0518
DOI - 10.1002/iir.180
Subject(s) - insolvency , creditor , debtor , estate , property (philosophy) , business , law and economics , work (physics) , law , accounting , actuarial science , debt , economics , political science , finance , engineering , philosophy , mechanical engineering , epistemology
Insolvency practitioners in charge of certain insolvency procedures have a facility open to them to disclaim property deemed to be onerous and whose retention as part of the debtor's estate may affect the mass of creditors. This article takes a comparative survey of a number of jurisdictions in the common‐law and civil‐law worlds. Its purpose is to assess whether work carried out at international level seeking to benchmark insolvency procedures generally should be revised to take into account enviornmental concerns in relation to such disclaimed property. Copyright © 2010 John Wiley & Sons, Ltd.