The Models of Personal Bankruptcy in Western Europe

Abstract

Personal bankruptcy is regulated in all the countries from Western Europe. We selected a groupof three countries: France, Ireland and Germany, to analyze the ways in which physical personsare put under bankruptcy law protection, while considering that implementation of the personalbankruptcy law is constantly delayed in Romania. Taking into account some comparative studies,we have found out that in all three countries is applied the principle of “consumer-friendlylegislation”.

Keywords

• personal bankruptcy
• insolvency proceedings
• amicable settlement
• judicial settlement