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Ramezani Akerdi, H. (2020). THE PURPOSE OF BANKRUPTCY LAW. , 50(2), 225-241. doi: 10.22059/jlq.2020.291685.1007295
Habib Ramezani Akerdi. "THE PURPOSE OF BANKRUPTCY LAW". , 50, 2, 2020, 225-241. doi: 10.22059/jlq.2020.291685.1007295
Ramezani Akerdi, H. (2020). 'THE PURPOSE OF BANKRUPTCY LAW', , 50(2), pp. 225-241. doi: 10.22059/jlq.2020.291685.1007295
Ramezani Akerdi, H. THE PURPOSE OF BANKRUPTCY LAW. , 2020; 50(2): 225-241. doi: 10.22059/jlq.2020.291685.1007295

THE PURPOSE OF BANKRUPTCY LAW

مطالعات حقوق خصوصی
Article 4, Volume 50, Issue 2, August 2020, Pages 225-241    PDF (516.79 K)
Document Type: Research Paper
DOI: 10.22059/jlq.2020.291685.1007295
Author
Habib Ramezani Akerdi*
Assistant professor, Department of Law, Faculty of Social Science, Imam Khomeini International University, Qazvin, Iran
Abstract
The bankruptcy law is born in financial crisis. The legal rules of bankruptcy change the rule of nonbankruptcy law to reduce its negative effects. The main question is that what should be the basic purposes of bankruptcy law? We seek "what it should be?" Therefore, this research has an analytical method. The theories “Creditors bargain”, “Bankruptcy policy”, “Risk sharing” and “Rehabilitating values” has been raised in answer to this question. Study of these theories show that the purpose of bankruptcy law must be defined in two economic and social dimensions. The maximization of wealth is the purpose of economic dimension of bankruptcy law which emerges in the maximizing the value of existing property and maintaining the enterprise. In the social dimension, the optimal distribution of property is the purpose of bankruptcy law. There are two approaches to social dimension of bankruptcy. The first approach is that the distribution must comply with the agreement before the bankruptcy procedure begins. The second approach considers the distributive approach to the weak party of the bankruptcy.
Keywords
Optimal Distribution; Maximization of Wealth; Risk Sharing Theory; Creditors Bargains Theory; Bankruptcy Policy Theory
References

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