The World Bank

Effective insolvency and creditor rights systems are an important element of financial system stability. The Bank accordingly has been working with partner organizations to develop principles on insolvency and creditor rights systems. Those principles will be used to guide system reform and benchmarking in developing countries. The Principles and Guidelines are a distillation of international best practice on design aspects of these systems, emphasizing contextual, integrated solutions and the policy choices involved in developing those solutions.