The nature of bankruptcy reconstruction approaches in Iran and the United States.

Document Type : Original Article

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Abstract

The process of rebuilding and forming a bankruptcy rebuilding institution in legal systems is to help individuals and legal entities go bankrupt, which, by presenting a plan, prohibits the seizure of the debtor's property and helps him to continue his business activity to pay off debts. Given the positive effects that this institution will have on the economic system of countries, therefore, the explanation and analysis of approved laws in the field is important and necessary. This research intends to examine the laws related to bankruptcy and the formation of a reconstruction institution in the Iranian and American legal systems with a descriptive-analytical method and a comparative approach. Examining the approaches and process of presenting the reconstruction plan and also the effects of the bankruptcy reconstruction institution in the Iranian and American legal systems shows that the commonalities of the reconstruction institution in these two legal systems include: participation in substantive and formal conditions, sharing in contractual characteristics and effects and differences The institution of reconstruction in the two mentioned legal systems refers to the powers of creditors, how to supervise the legal authorities and determine specific deadlines in submitting the reconstruction plan, as well as how to protect the debtor and creditors in pursuing or preventing the prosecution of their claims.

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