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Ease of Doing Business in

Jamaica

Jamaica Download Profile (1769.7KB, pdf)
Region Latin America & Caribbean
Income Category Upper middle income
Population 2,725,941
GNI Per Capita (US$) 5,010
City covered Kingston

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 67 65 down
2
67.54 66.73 down
0.81
Starting a Business 12 6 down
6
95.61 97.28 down
1.67
Dealing with Construction Permits 75 71 down
4
71.15 71.10 up
0.05
Getting Electricity 101 81 down
20
68.00 71.09 down
3.09
Registering Property 123 120 down
3
53.70 53.67 up
0.03
Getting Credit 16 14 down
2
80.00 80.00
-
Protecting Minority Investors 63 62 down
1
58.33 58.33
-
Paying Taxes 116 155 up
39
65.18 53.52 up
11.66
Trading across Borders 131 133 up
2
60.70 59.61 up
1.09
Enforcing Contracts 117 114 down
3
53.60 53.60
-
Resolving Insolvency 38 36 down
2
69.15 69.08 up
0.07

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

DB 2017 Rank:

38

DB 2016 Rank:

36

Change in Rank:

down2

DB 2017 DTF (% points):

69.15

DB 2016 DTF (% points):

69.08

Change in DTF (% points):

up0.07

Indicator Jamaica Latin America & Caribbean OECD high income
Recovery rate (cents on the dollar) info_outline 64.6 31.0 73.0
Time (years) info_outline 1.1 2.9 1.7
Cost (% of estate) info_outline 18 16.7 9.1
Outcome (0 as piecemeal sale and 1 as going concern) info_outline 1 .. ..
Strength of insolvency framework index (0-16) info_outline 11 7.1 12.1
  • Indicator Explanation Answer
    Recovery rate (cents on the dollar) 64.6
    Proceeding After Mirage default on payment, BizBank is likely to file for a in-Court receivership before the Supreme Court. The process would generally involve an initial application for an order for the appointment of the receiver which may include, among other thing , directions for the filing of interim and final accounts. the Court will then appoint the receiver and thereafter (assuming no opposition or other complication), the receiver will try to sell Mirage as a going concern in order to maximize the return to BizBank. receivership
    Outcome The hotel will continue operating as a going concern after the receivership procedure as the receiver will seek to sell Mirage as a going concern to maximize the return for BizBank. going concern
    Time (in years) The receivership procedure takes approximate 1.1 years until BizBank is repaid some or all the money owed to it. 1.1
    Cost (% of estate) The costs associated with the case would amount to approximately 18% of the value of the debtor's estate. Cost incurred during the entire insolvency process mainly include court or government agency fees (0.5%), attorney fees (5%), receiver fees (9%), fees of accountants, assessors, inspectors and other professionals (3%), fees of service providers (0.5%) 18.0
    Answer Score
    Strength of insolvency framework index (0-16) 11.0
    Commencement of proceedings index (0-3) 2.5
    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? (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? (c) Both (a) and (b) options are available, but only one of them needs to be complied with 1.0
    Management of debtor's assets index (0-6) 4.5
    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? 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? (a) Yes over all pre-commencement creditors, secured or unsecured 0.5
    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) 3.0
    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? Yes 1.0
    Does the insolvency framework provide that a creditor has the right to request information from the insolvency representative? Yes 1.0
    Does the insolvency framework provide that a creditor has the right to object to decisions accepting or rejecting creditors' claims? No 0.0

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”.