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 2013. 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 189 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..2.821..30.7
Europe & Central Asia..2.313..37.2
Latin America & Caribbean..2.916..31.4
Middle East & North Africa..3.214..29.4
OECD high income..1.79..70.6
South Asia..3.010..29.1
Sub-Saharan Africa..3.123..19.0
Afghanistan1152.025026.5
Albania622.010040.7
Algeria602.57041.7
Angola189no practiceno practiceno practice0.0
Antigua and Barbuda803.07035.9
Argentina972.812030.8
Armenia761.911036.4
Australia181.08181.3
Austria141.110182.4
Azerbaijan862.38034.0
Bahamas, The323.012163.5
Bahrain272.510167.4
Bangladesh1194.08025.8
Barbados281.815165.1
Belarus743.022136.9
Belgium60.94189.0
Belize301.023164.5
Benin1404.022018.1
Bhutan189no practiceno practiceno practice0.0
Bolivia671.815038.9
Bosnia and Herzegovina773.39036.0
Botswana341.718161.9
Brazil1354.012119.5
Brunei Darussalam482.54047.2
Bulgaria923.39032.6
Burkina Faso1174.09026.1
Burundi1645.03007.7
Cabo Verde189no practiceno practiceno practice0.0
Cambodia1636.02808.2
Cameroon1512.834015.4
Canada90.87187.3
Central African Republic1894.87600.0
Chad1894.06000.0
Chile1023.215029.1
China781.722036.0
Colombia251.76170.3
Comoros189no practiceno practiceno practice0.0
Congo, Dem. Rep.1675.22904.5
Congo, Rep.1423.325017.9
Costa Rica1243.015024.5
Côte d'Ivoire952.218031.8
Croatia983.115030.3
Cyprus241.515170.5
Czech Republic292.117165.0
Denmark101.04187.0
Djibouti1475.018016.8
Dominica1054.010028.3
Dominican Republic1593.53808.8
Ecuador1435.318017.9
Egypt, Arab Rep.1464.222016.9
El Salvador903.512032.8
Equatorial Guinea189no practiceno practiceno practice0.0
Eritrea189no practiceno practiceno practice0.0
Estonia663.09038.9
Ethiopia751.815036.9
Fiji501.810045.6
Finland30.94190.2
France461.99048.3
Gabon1535.015015.2
Gambia, The1082.015027.8
Georgia882.010033.6
Germany131.28182.9
Ghana1161.922026.2
Greece873.59034.0
Grenada189no practiceno practiceno practice0.0
Guatemala1093.015027.7
Guinea1453.88017.6
Guinea-Bissau189no practiceno practiceno practice0.0
Guyana1413.029018.0
Haiti189no practiceno practiceno practice0.0
Honduras1363.815019.5
Hong Kong SAR, China191.19181.2
Hungary702.015038.3
Iceland111.04184.5
India
1214.39025.6
Indonesia1444.518017.9
Iran, Islamic Rep.1294.59022.4
Iraq189no practiceno practiceno practice0.0
Ireland80.49187.6
Israel352.023160.6
Italy331.822162.7
Jamaica311.118164.2
Japan10.64192.8
Jordan1133.020027.2
Kazakhstan541.515043.2
Kenya1234.522124.7
Kiribati189no practiceno practiceno practice0.0
Korea, Rep.151.54182.3
Kosovo832.015035.3
Kuwait944.210032.0
Kyrgyz Republic1324.015021.7
Lao PDR189no practiceno practiceno practice0.0
Latvia431.510048.4
Lebanon933.015032.4
Lesotho1042.620028.6
Liberia1613.04308.5
Libya189no practiceno practiceno practice0.0
Lithuania441.97048.4
Luxembourg532.015043.5
Macedonia, FYR521.810043.8
Madagascar1572.030011.7
Malawi1502.625015.6
Malaysia421.510048.9
Maldives401.54050.4
Mali1313.618022.2
Malta643.010039.2
Marshall Islands1382.038018.6
Mauritania189no practiceno practiceno practice0.0
Mauritius611.715041.0
Mexico261.818167.6
Micronesia, Fed. Sts.1685.33803.4
Moldova912.89032.8
Mongolia1334.08021.6
Montenegro451.48048.4
Morocco691.818038.3
Mozambique1485.09016.6
Myanmar1555.018014.7
Namibia852.515034.9
Nepal1255.09024.5
Netherlands51.14189.2
New Zealand121.34183.3
Nicaragua842.215034.9
Niger1545.018014.9
Nigeria1072.022027.9
Norway20.91191.3
Oman724.04037.3
Pakistan712.84037.7
Palau962.023031.0
Panama1122.525027.5
Papua New Guinea1283.023023.5
Paraguay1523.99015.2
Peru1103.17027.7
Philippines1002.722029.9
Poland373.015154.8
Portugal232.09171.6
Puerto Rico (U.S.)212.58173.4
Qatar362.822155.6
Romania993.311030.0
Russian Federation552.09042.8
Rwanda1372.529019.0
Samoa1392.038018.2
San Marino492.35046.6
São Tomé and Príncipe1666.22205.4
Saudi Arabia1062.822028.3
Senegal1223.020025.3
Serbia1032.020029.0
Seychelles652.011038.9
Sierra Leone1582.342010.5
Singapore40.83189.4
Slovak Republic384.018154.1
Slovenia412.04050.1
Solomon Islands1271.038024.3
South Africa822.018035.5
South Sudan189no practiceno practiceno practice0.0
Spain221.511172.3
Sri Lanka591.710041.9
St. Kitts and Nevis189no practiceno practiceno practice0.0
St. Lucia562.09042.5
St. Vincent and the Grenadines189no practiceno practiceno practice0.0
Sudan892.020033.2
Suriname1605.03008.6
Swaziland682.015038.5
Sweden202.09175.5
Switzerland473.04047.6
Syrian Arab Republic1204.19025.7
Taiwan, China161.94181.8
Tajikistan811.79035.8
Tanzania1343.022021.4
Thailand582.736142.2
Timor-Leste189no practiceno practiceno practice0.0
Togo1113.015027.6
Tonga1182.722026.1
Trinidad and Tobago1142.525026.9
Tunisia391.37052.0
Turkey1303.315022.3
Uganda792.230136.0
Ukraine1622.94208.2
United Arab Emirates1013.220029.4
United Kingdom71.06188.6
United States171.57181.5
Uruguay511.87045.1
Uzbekistan632.010039.9
Vanuatu572.638142.2
Venezuela, RB1654.03806.5
Vietnam1495.015016.2
West Bank and Gaza189no practiceno practiceno practice0.0
Yemen, Rep.1263.08024.4
Zambia732.49037.1
Zimbabwe1563.322013.1

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