Spain’s recent efforts to encourage an “entrepreneurial culture” are certainly inspired by the american dream’s most renowned ideals of success and wealth. This whole social movement may also act as an influential key factor with regards to the legal treatment of personal bankruptcy, by means of establishing its ultimate goal: a fresh start (aka discharge and exemption laws) and how it must be conducted (aka its legal procedure). For this reason, it is our aim to examine from a comparative law perspective the U.S. Bankruptcy Law and its procedure rules, considering its main benefits and downsides in contrast with the Spanish Insolvency Act... [Leer más...]