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Ease of Doing Business in

Fiji

Fiji Download Profile (1740.7KB, pdf)
Region East Asia & Pacific
Income Category Upper middle income
Population 892,145
GNI Per Capita (US$) 4,800
City covered Suva

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 97 84 down
13
60.71 62.47 down
1.76
Starting a Business 159 166 up
7
73.13 68.18 up
4.95
Dealing with Construction Permits 101 100 down
1
67.88 67.85 up
0.03
Getting Electricity 82 79 down
3
71.92 71.26 up
0.66
Registering Property 55 55
-
71.86 71.86
-
Getting Credit 157 78 down
79
25.00 50.00 down
25.00
Protecting Minority Investors 106 108 up
2
50.00 48.33 up
1.67
Paying Taxes 110 108 down
2
67.55 67.46 up
0.09
Trading across Borders 75 76 up
1
77.57 77.57
-
Enforcing Contracts 86 84 down
2
58.44 58.44
-
Resolving Insolvency 90 87 down
3
43.75 43.76 down
0.01

Positive= Doing Business reform making it easier to do business.Negative= Change making it more difficult to do business.

DB 2017 Rank:

90

DB 2016 Rank:

87

Change in Rank:

down3

DB 2017 DTF (% points):

43.75

DB 2016 DTF (% points):

43.76

Change in DTF (% points):

down0.01

Indicator Fiji East Asia & Pacific OECD high income
Recovery rate (cents on the dollar) info_outline 46.4 33.9 73.0
Time (years) info_outline 1.8 2.6 1.7
Cost (% of estate) info_outline 10 20.6 9.1
Outcome (0 as piecemeal sale and 1 as going concern) info_outline 0 .. ..
Strength of insolvency framework index (0-16) info_outline 6 7.1 12.1
  • Indicator Explanation Answer
    Recovery rate (cents on the dollar) 46.4
    Proceeding After Mirage's default, BizBank will file an application to appoint a receiver as the debenture holder. The court would then appoint an official receiver, who would collect statement of affairs, finalize creditors' claims, and try to sell Mirage's business as a going concern. Sale proceeds will be paid to Mirage then. This is the most likely in-court procedure in Fiji. receivership
    Outcome No, the hotel will stop operating and Mirage assets will be sold piecemeal as a result of the receivership proceeding. In Fiji, businesses do not generally continue to operate as a going concern at the end of the proceedings. piecemeal sale
    Time (in years) It takes 1.8 years from Mirage's default until BizBank is repaid some of the money owed to it through the receivership proceeding. The delay in the completion of receivership is resulted from the advertisement of the sale and execution of the sale. 1.8
    Cost (% of estate) The costs associated with the receivership case would amount to approximately 10% of the value of the debtor's estate (FJD 754,782). Costs incurred mainly include court or government agency fees (FJD 400), attorney fees (FJD 2,500), costs of notification and publication (FJD 200), variable receiver fees, variable fees of accountants, assessors, inspectors and other professionals, and variable fees of auctioneers. 10.0
    Answer Score
    Strength of insolvency framework index (0-16) 6.0
    Commencement of proceedings index (0-3) 2.0
    What procedures are available to a DEBTOR when commencing insolvency proceedings? (b) Debtor may file for liquidation only 0.5
    Does the insolvency framework allow a CREDITOR to file for insolvency of the debtor? (b) Yes, but a creditor may file for liquidation only 0.5
    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) 2.0
    Does the insolvency framework allow the continuation of contracts supplying essential goods and services to the debtor? No 0.0
    Does the insolvency framework allow the rejection by the debtor of overly burdensome contracts? No 0.0
    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? No 0.0
    Does the insolvency framework assign priority to post-commencement credit? (c) No priority is assigned to post-commencement creditors 0.0
    Reorganization proceedings index (0-3) 0.0
    Which creditors vote on the proposed reorganization plan? N/A 0.0
    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”.