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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, 2022. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in OSO for personal use.date: 27 January 2022

The Role and Position of Other Key Stakeholders Interacting with or Affected by the Distressed MSME

The Role and Position of Other Key Stakeholders Interacting with or Affected by the Distressed MSME

Chapter:
(p.127) 6 The Role and Position of Other Key Stakeholders Interacting with or Affected by the Distressed MSME
Source:
Micro, Small, and Medium Enterprise Insolvency
Author(s):

Mokal et

Publisher:
Oxford University Press
DOI:10.1093/oso/9780198799931.003.0006

This chapter looks at other stakeholders that have an important role in the proper functioning of the MSME insolvency system and that may interact with the debtor during its distress situation in important ways. Both the inception and the ensuing solution for the business in distress may be heavily influenced by the behaviour of creditors, particularly financial creditors, and by the involvement of tax authorities. The fair and efficient handling of the MSME insolvency process may also require dealing with the position of the entrepreneur or the entrepreneur’s family members as guarantors. The MSME insolvency system must also have regard to the position of a MSME’s employees. Finally, the chapter proposes ways and options to address the issues arising for MSMEs as a result of the interaction between the debtor and these other stakeholders.

Keywords:   financial creditors, tax authorities, guarantors, fairness, MSME employee protection, creditor passivity, reckless conduct, lenders’ duties, tax incentives, exit finance

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