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3. B-READY: Business Insolvency Pillar 3: Operational Efficiency of Resolving Judicial Insolvency Proceedings

B-READY: Business Insolvency Pillar 3: Operational Efficiency of Resolving Judicial Insolvency Proceedings

B-READY focuses on ten topics that are organized following the life cycle of the firm and its participation in the market while opening, operating (or expanding), and closing (or reorganizing) a business. The Business Insolvency topic measures key features of insolvency systems on a regulatory level. It also assesses the institutional and operational infrastructure associated with insolvency proceedings (judicial services), as well as the operational efficiency of insolvency proceedings across three different dimensions, or pillars. The third pillar measures the time and cost required to resolve in-court liquidation and reorganization proceedings.