CEU Electronic Theses and Dissertations, 2023
| Author | Managadze, Irakli |
|---|---|
| Title | Individual Bankruptcy in the United States and Germany: Recommendations for Georgia |
| Summary | Georgia possesses no individual bankruptcy law in its legal system notwithstanding that with the availability of affordable credit and the resulting increasing number of defaults there would be a need for it. The main research question of this thesis therefore is whether and why Georgia should introduce individual bankruptcy law and to highlight why having a modern individual bankruptcy system and giving second chance (fresh start) to individuals is advantageous. A related goal is to draw recommendations how to introduce individual bankruptcy provisions in Georgia. The model of individual bankruptcy laws developed in the United States (U.S.) and Germany are used as an inspiration for the recommendations. While US law works successfully in practice and is the most tested system globally, the German legal system is one of the most impactful civil law systems and it has the biggest impact on Georgian legislation today. Based on the analyses of these two jurisdictions, I will give recommendations to Georgian legislator about what main policies, rules and features should be taken into consideration while implementing individual bankruptcy provisions. The thesis uses the mix of doctrinal and policy-oriented research methods. First, it will analyze the regulatory frameworks of individual bankruptcy in U.S. and Germany by scrutinizing the statutory framework, available case law and scholarly materials. Also, an interview with Emeritus Professor Reinhard Bork about German consumer insolvency law will be used to enrich the discussion on German the consumer insolvency system and its use in practice. Based on that, the Georgian individual debt collection system will be overviewed along with recommendations related to the individual bankruptcy system Georgia is to introduce. |
| Supervisor | Tibor Tajti |
| Department | Legal Studies LLM |
| Full text | https://www.etd.ceu.edu/2023/managadze_irakli.pdf |
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