Bankruptcy Reform Slumps, World Bank Charges

Law360 (September 6, 2006, 12:00 AM EDT) -- Calling the process “more painful than it needs to be,” the World Bank Group has blasted nations worldwide for failing to improve their business-restructuring systems over the past year.

On Wednesday, the World Bank, an arm of the United Nations that is devoted to economic development, released the results of its annual report studying the ease of doing business in 175 countries.

"The report points out that in many economies the costs of doing business are so prohibitive that most entrepreneurs are forced to operate outside...
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