Report on the Treatment of the Insolvency of Natural Persons

This report addresses the insolvency of
natural persons following this structure: a first part
introduces the objectives and nature of the report, deals
with general issues, and describes the foundations of a
system for the treatment of the insolvency of natural
persons. The second part of the report analyzes the core
legal attributes of system for the treatment of the
insolvency of natural persons: within this system, the most
relevant questions are analyzed in depth, namely the design
of the system and the institutional framework, access to the
system, the participation of creditors, the solutions to the
insolvency process, and discharge. The main objective of
this report is to provide guidance on the characteristics of
an effective insolvency regime for natural persons and on
the opportunities and challenges encountered in the
development of such a regime. In this regard, the report
raises awareness about the importance of a regime for the
treatment of the insolvency of natural persons, and explores
the advantages and disadvantages of the solutions to the
numerous practical issues that have to be confronted in the
design of an insolvency regime for natural persons.