Barbados enacted the Bankruptcy and Insolvency Act in the year 2001. This Act is based entirely on the Canadian Bankruptcy and Insolvency Act. Barbados reformed its bankruptcy and insolvency laws in order to offer greater protection to debtors while simultaneously protecting creditors from fraud. Additionally, the new reforms were designed to remove the stigma that attaches to insolvent and bankrupt individuals and businesses and to make Barbados a more attractive destination for the creation of and investment in new businesses. Despite the existence of a legislative framework designed to assist debtors and creditors only five matters have been initiated under the Barbados Act. In this thesis I examine why there has been reluctance to rely on the Act. Ultimately, I conclude that the bankruptcy and insolvency regime that exists in Barbados is ineffective and lacks many of the features that are necessary for the efficient administration of bankruptcies and insolvencies.
| Identifer | oai:union.ndltd.org:TORONTO/oai:tspace.library.utoronto.ca:1807/42810 |
| Date | 22 November 2013 |
| Creators | Dear, Amiri |
| Contributors | Duggan, Anthony |
| Source Sets | University of Toronto |
| Language | en_ca |
| Detected Language | English |
| Type | Thesis |
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