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Micro, Small, and Medium Enterprise InsolvencyA Modular Approach$
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Riz Mokal, Ronald Davis, Alberto Mazzoni, Irit Mevorach, Madam Justice Barbara Romaine, Janis Sarra, Ignacio Tirado, and Stephan Madaus

Print publication date: 2018

Print ISBN-13: 9780198799931

Published to Oxford Scholarship Online: November 2018

DOI: 10.1093/oso/9780198799931.001.0001

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PRINTED FROM OXFORD SCHOLARSHIP ONLINE (oxford.universitypressscholarship.com). (c) Copyright Oxford University Press, 2021. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in OSO for personal use. date: 07 December 2021

Annex 2

Annex 2

Lessons from One Jurisdiction on How to Identify Policy Needs of MSME Insolvency

Chapter:
(p.187) 10 Annex 2
Source:
Micro, Small, and Medium Enterprise Insolvency
Author(s):

Mokal et

Publisher:
Oxford University Press
DOI:10.1093/oso/9780198799931.003.0010

The second annex offers an example of how one jurisdiction identified the policy needs for reform of the treatment of the insolvency of MSMEs by working with individuals on the ground to develop ideas for a fairer and more effective system. In Canada, it is generally acknowledged that the insolvency system works relatively well, particularly for consumer debtors and large enterprises. However, as in other jurisdictions, regulators have had questions as to whether the system adequately serves MSMEs. A study commissioned by the Industry Canada Marketplace Policy Branch of the Canadian Government resulted in Janis Sarra conducting a study on MSME insolvency in Canada in 2015 and 2016, with the goal of identifying challenges that MSMEs face within the existing Canadian insolvency regime. Part of Sarra’s methodology was to undertake a survey of more than sixty practitioners who deal on a daily basis with MSME insolvency, including insolvency professionals and loan officers.

Keywords:   MSME insolvency, Canadian insolvency regime, MSMEs, insolvency professionals, loan officers, streamlined process, access, deemed approval, fairness

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