|
Browse Profiles > Jordan > Effective Insolvency and Creditor Rights Systems |
| Score | Rank | |
| Standards Compliance Index | 27.50 out of 100 | 58 |
| Business Indicator Index | 9.15 out of 12 | 35 |
Jordan|
Effective Insolvency and Creditor Rights Systems
As stated in the 2004 Country Commercial Guide prepared by the U.S. Department of Commerce, bankruptcy and insolvency proceedings in Jordan are regulated by the Commercial Code, the Civil Code, and the Companies Act. In 2002, a bankruptcy law came into force. However, there is no publicly available information regarding Jordan's compliance with the Principles and Guidelines for Effective Insolvency and Creditor Rights Systems developed by the World Bank. General Overview There is no publicly available information regarding Jordan's compliance with the Principles and Guidelines for Effective Insolvency and Creditor Rights Systems developed by the World Bank. As stated in the 2004 Country Commercial Guide prepared by the U.S. Department of Commerce, Bankruptcy and insolvency proceedings in Jordan are regulated by the Commercial Code, the Civil Code, and the Companies Act. In 2002, a bankruptcy law came into force. (U.S. DoS 2004) |
Jump to other standards 
Sources of Assessment U.S. Department of Commerce, "Jordan: Country Commercial Guide 2004," U.S. & Foreign Commercial Service and U.S. Department of State, September 2004. Available from U.S. Department of Commerce website. Accessed on May 4, 2007. (U.S. DoC 2004) Relevant Organizations Ministry of Industry and Trade (MIT) Relevant Legislation/Regulation Companies Act No. 22, 1997 Commerce Act No. 12, 1966 Civil Code 1976 Supplementary Sources |