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Ease of Doing Business in

Denmark

Denmark Download Profile (1691.4KB, pdf)
Region OECD high income
Income Category High income
Population 5,676,002
GNI Per Capita (US$) 58,590
City covered Copenhagen

190

1

DB 2017 Rank

1

100

DB 2017 DTF (% points)

  • local_library
  • group
Topics DB 2017 Rank DB 2016 Rank info_outline Change in Rank DB 2017 DTF (% points) info_outline DB 2016 DTF (% points) info_outline Change in DTF (% points) info_outline
Overall 3 2 down
1
84.87 84.85 down
0.02
Starting a Business 24 22 down
2
94.07 94.04 up
0.03
Dealing with Construction Permits 6 6
-
84.69 84.63 up
0.06
Getting Electricity 14 12 down
2
90.20 90.19 up
0.01
Registering Property 12 9 down
3
89.88 89.88
-
Getting Credit 32 29 down
3
70.00 70.00
-
Protecting Minority Investors 19 15 down
4
71.67 71.67
-
Paying Taxes 7 7
-
92.11 92.11
-
Trading across Borders 1 1
-
100.00 100.00
-
Enforcing Contracts 24 25 up
1
71.23 71.23
-
Resolving Insolvency 8 9 up
1
84.86 84.78 up
0.08

DB 2017 Rank:

8

DB 2016 Rank:

9

Change in Rank:

up1

DB 2017 DTF (% points):

84.86

DB 2016 DTF (% points):

84.78

Change in DTF (% points):

up0.08

Indicator Denmark OECD high income
Recovery rate (cents on the dollar) info_outline 88 73.0
Time (years) info_outline 1 1.7
Cost (% of estate) info_outline 4 9.1
Outcome (0 as piecemeal sale and 1 as going concern) info_outline 1 ..
Strength of insolvency framework index (0-16) info_outline 12 12.1
  • Indicator Explanation Answer
    Recovery rate (cents on the dollar) 88.0
    Proceeding Mirage's management will initiate reorganization proceedings in order to keep the hotel operating. reorganization
    Outcome Provided that Bizbank and/or more than 25 % of the unsecured creditors approve of the reconstruction plan, the business will be restructured according to section 13 of the Bankruptcy Act. going concern
    Time (in years) It takes one year to complete reorganization proceedings in Denmark. 1.0
    Cost (% of estate) The majority of the expenses are comprised of legal fees (up to 2%), fees of insolvency representatives (up to 2%) and other professionals involved in the insolvency proceedings (up to 1%). 4.0
    Answer Score
    Strength of insolvency framework index (0-16) 12.0
    Commencement of proceedings index (0-3) 3.0
    What procedures are available to a DEBTOR when commencing insolvency proceedings? (a) Debtor may file for both liquidation and reorganization 1.0
    Does the insolvency framework allow a CREDITOR to file for insolvency of the debtor? (a) Yes, a creditor may file for both liquidation and reorganization 1.0
    What basis for commencement of the insolvency proceedings is allowed under the insolvency framework? (a) Debtor is generally unable to pay its debts as they mature 1.0
    Management of debtor's assets index (0-6) 6.0
    Does the insolvency framework allow the continuation of contracts supplying essential goods and services to the debtor? Yes 1.0
    Does the insolvency framework allow the rejection by the debtor of overly burdensome contracts? Yes 1.0
    Does the insolvency framework allow avoidance of preferential transactions? Yes 1.0
    Does the insolvency framework allow avoidance of undervalued transactions? Yes 1.0
    Does the insolvency framework provide for the possibility of the debtor obtaining credit after commencement of insolvency proceedings? Yes 1.0
    Does the insolvency framework assign priority to post-commencement credit? (b) Yes over ordinary unsecured creditors but not over secured creditors 1.0
    Reorganization proceedings index (0-3) 1.0
    Which creditors vote on the proposed reorganization plan? (b) Only creditors whose rights are affected by the proposed plan 1.0
    Does the insolvency framework require that dissenting creditors in reorganization receive at least as much as what they would obtain in a liquidation? No 0.0
    Are the creditors devided into classes for the purposes of voting on the reorganization plan, does each class vote separately and are creditors in the same class treated equally? No 0.0
    Creditor participation index (0-4) 2.0
    Does the insolvency framework require approval by the creditors for selection or appointment of the insolvency representative? Yes 1.0
    Does the insolvency framework require approval by the creditors for sale of substantial assets of the debtor? No 0.0
    Does the insolvency framework provide that a creditor has the right to request information from the insolvency representative? No 0.0
    Does the insolvency framework provide that a creditor has the right to object to decisions accepting or rejecting creditors' claims? Yes 1.0

Note: Even if the economy’s legal framework includes provisions related to insolvency proceedings (liquidation or reorganization), the economy receives 0 points for the strength of insolvency framework index, if time, cost and outcome indicators are recorded as “no practice”.