Bankruptcy – Immediate Dismissal and Payment Plans: A Comparative Review, December 2015The purpose of the report is to examine whether the institution of immediate dismissal exists in the world; what are the current measures to ensure the prevention of abuse and the identity of the organization that grants the dismissal. The countries reviewed were the United States, England, Canada, Australia, France and Germany.
The study reviews, inter alia, the definition of the term “immediate dismissal”; The duration and frequency of the procedure; The conditions for receiving the exemption (including proven low earning ability, absence of bankruptcy history, substance test, lack of ownership of assets and low debts), the body that makes the decision (administrative body / court), trends (to prevent abuse of bankruptcy proceedings), and the results of the exemption (restrictions on the person that receives the exemption).
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