Resolving Insolvency

This topic identifies weaknesses in existing bankruptcy law and the main procedural and administrative bottlenecks in the bankruptcy process. The most recent round of data collection for the project was completed in June 2012. Read the methodology.

Use the tabs to view Resolving Insolvency data and analysis, reform summaries, frequent questions and related resources. Click on economy name for detailed information. Click on column headers to sort.

subnational = Subnational Doing Business data available.

About Doing Business

The data and analysis appearing on this page was collected as part of the Doing Business project, which measures and compares regulations relevant to the life cycle of a small to medium-sized domestic business in 185 economies.

The average time to close a business. Information is collected on the sequence of procedures and on whether any procedures can be carried out simultaneously.

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Time (years)

The average cost of bankruptcy proceedings. The cost of the proceedings is recorded as a percentage of the estate’s value.

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Cost (% of estate)

The recovery rate calculates how many cents on the dollar claimants (creditors, tax authorities, and employees) recover from an insolvent firm.

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Recovery rate (cents on the dollar)
East Asia & Pacific..2.921..34.7
Eastern Europe & Central Asia..2.413..36.9
Latin America & Caribbean..3.116..34.1
Middle East & North Africa..3.413..33.7
OECD high income..1.79..70.6
South Asia..3.010..33.3
Sub-Saharan Africa..3.423..22.4
Afghanistan1152.025026.4
Albania662.010039.6
Algeria622.57041.7
Angola1626.22208.0
Antigua and Barbuda853.07035.2
Argentina942.812030.8
Armenia631.94041.2
Australia181.08180.8
Austria121.110183.3
Azerbaijan952.78030.6
Bahamas, The355.04155.9
Bahrain272.510166.2
Bangladesh1194.08025.5
Barbados281.815165.1
Belarus563.022143.0
Belgium70.94188.7
Belize301.023164.0
Benin1324.022020.2
Bhutan185no practiceno practiceno practiceno practice
Bolivia681.815039.0
Bosnia and Herzegovina833.39035.4
Botswana291.715164.8
Brazil1434.012115.9
Brunei Darussalam462.54047.2
Bulgaria933.39031.7
Burkina Faso1134.09027.3
Burundi1615.03008.0
Cambodia1526.015012.8
Cameroon1503.234013.6
Canada40.84190.7
Cape Verde185no practiceno practiceno practiceno practice
Central African Republic1854.87600.0
Chad1854.06000.0
Chile983.215030.0
China821.722035.7
Colombia211.36176.2
Comoros185no practiceno practiceno practiceno practice
Congo, Dem. Rep.1685.22901.6
Congo, Rep.1363.325017.8
Costa Rica1283.515022.5
Côte d'Ivoire762.218037.6
Croatia973.115030.1
Cyprus251.515170.7
Czech Republic343.217156.3
Denmark101.04187.1
Djibouti1425.018016.5
Dominica1044.010028.5
Dominican Republic1563.53808.7
Ecuador1375.318017.8
Egypt, Arab Rep.1394.222017.6
El Salvador894.09032.2
Equatorial Guinea185no practiceno practiceno practiceno practice
Eritrea185no practiceno practiceno practiceno practice
Estonia723.09038.5
Ethiopia1173.015025.9
Fiji481.810045.2
Finland50.94189.7
France431.99048.4
Gabon1455.015015.2
Gambia, The1082.015027.8
Georgia812.04035.7
Germany191.28178.1
Ghana1141.922026.9
Greece502.09044.5
Grenada185no practiceno practiceno practiceno practice
Guatemala1093.015027.8
Guinea1413.88017.1
Guinea-Bissau185no practiceno practiceno practiceno practice
Guyana1383.029017.6
Haiti1605.73008.3
Honduras1333.815019.4
Hong Kong SAR, China171.19181.2
Hungary702.015038.8
Iceland111.04185.0
India
1164.39026.0
Indonesia1485.518014.2
Iran, Islamic Rep.1264.59023.1
Iraq185no practiceno practiceno practiceno practice
Ireland90.49187.5
Israel474.023145.9
Italy311.822163.4
Jamaica321.118163.1
Japan10.64192.8
Jordan1124.39027.4
Kazakhstan551.515043.1
Kenya1004.522129.5
Kiribati185no practiceno practiceno practiceno practice
Korea, Rep.141.54181.8
Kosovo872.015034.7
Kuwait924.210031.7
Kyrgyz Republic1554.01509.1
Lao PDR185no practiceno practiceno practiceno practice
Latvia333.013159.8
Lebanon1314.022020.9
Lesotho752.68037.6
Liberia1593.04308.5
Lithuania401.57051.0
Luxembourg522.015043.5
Macedonia, FYR602.010042.2
Madagascar1512.030012.9
Malawi1342.625018.5
Malaysia491.515044.7
Maldives411.54050.6
Mali1203.618025.0
Malta673.010039.2
Marshall Islands1402.038017.4
Mauritania1538.09010.3
Mauritius641.715040.9
Mexico261.818167.3
Micronesia, Fed. Sts.1665.33803.4
Moldova912.89032.0
Mongolia1274.08022.7
Montenegro441.48048.3
Morocco861.818035.1
Mozambique1475.09015.0
Namibia591.515042.3
Nepal1215.09024.5
Netherlands61.14188.8
New Zealand131.34183.0
Nicaragua802.215036.0
Niger1305.018021.7
Nigeria1052.022028.2
Norway30.91190.8
Oman774.04036.6
Pakistan782.84036.2
Palau711.023038.6
Panama1102.525027.5
Papua New Guinea1253.023023.5
Paraguay1443.99015.3
Peru1063.17028.1
Philippines1655.73804.9
Poland373.015154.5
Portugal232.09174.6
Puerto Rico (U.S.) 242.58173.4
Qatar362.822155.5
Romania1023.311029.2
Russian Federation532.09043.4
Rwanda1673.05003.1
Samoa1462.538015.2
São Tomé and Príncipe 1646.22205.2
Saudi Arabia1072.822028.0
Senegal903.07032.0
Serbia1032.020029.1
Seychelles652.011039.6
Sierra Leone1542.64209.2
Singapore20.81191.3
Slovak Republic384.018153.6
Slovenia422.04049.8
Solomon Islands1231.038023.9
South Africa842.018035.4
Spain201.511176.5
Sri Lanka511.710043.9
St. Kitts and Nevis185no practiceno practiceno practiceno practice
St. Lucia612.09042.0
St. Vincent and the Grenadines185no practiceno practiceno practiceno practice
Sudan882.020033.2
Suriname1585.03008.6
Swaziland742.015038.3
Sweden222.09174.7
Switzerland453.04047.5
Syrian Arab Republic1114.19027.5
Taiwan, China151.94181.8
Tajikistan791.79036.0
Tanzania1293.022021.7
Thailand582.736142.4
Timor-Leste185no practiceno practiceno practiceno practice
Togo963.015030.5
Tonga1182.722025.7
Trinidad and Tobago1354.025018.4
Tunisia391.37052.0
Turkey1243.315023.6
Uganda692.230138.9
Ukraine1572.94208.7
United Arab Emirates1013.220029.4
United Kingdom81.06188.6
United States161.57181.5
Uruguay542.17043.3
Uzbekistan732.010038.5
Vanuatu572.638142.7
Venezuela, RB1634.03806.4
Vietnam1495.015013.9
West Bank and Gaza185no practiceno practiceno practiceno practice
Yemen, Rep.1223.08024.1
Zambia992.79029.8
Zimbabwe1693.32200.1

Notes: Click on economy name for detailed information. Click on column headers to sort.

subnational = Subnational Doing Business data available.

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