NewsWhore
10-18-2011, 01:40 PM
The director of the National Competitiveness Council (CNC), Andres Vanderhorst Alvarez urged that Congress pass the bankruptcy bill. He complained that business and financial associations are lobbying to impede the passing of the bill.
Vanderhorst explained that the absence of the bill only benefits large corporations but affects small companies. He said that if the country does not pass the bill, it will be "among the most backward in the world" in this regard. He said the country has been wanting a business restructuring legislation for years.
Vanderhorst made the point if the bill is not passed, the country will drop further in the Doing Business Index of the World Bank.
The bill is known locally as Proyecto de Ley de Reestructuracion Mercantil y Liquidacion Judicial.
http://competitividad.org.do/wp-content/uploads/2008/12/propuesta-de-ley-de-reestructuracion-mercantil.pdf
More... (http://www.dr1.com/index.html#1)
Vanderhorst explained that the absence of the bill only benefits large corporations but affects small companies. He said that if the country does not pass the bill, it will be "among the most backward in the world" in this regard. He said the country has been wanting a business restructuring legislation for years.
Vanderhorst made the point if the bill is not passed, the country will drop further in the Doing Business Index of the World Bank.
The bill is known locally as Proyecto de Ley de Reestructuracion Mercantil y Liquidacion Judicial.
http://competitividad.org.do/wp-content/uploads/2008/12/propuesta-de-ley-de-reestructuracion-mercantil.pdf
More... (http://www.dr1.com/index.html#1)