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ICR Seminars of the World Bank


Recent and Upcoming Seminars Hosted by the Insolvency and Creditor Rights Initiative of the World Bank


Periodically, the ICR Initiative hosts informative and innovative seminars on a variety of leading-edge ICR topics.   If you would like to attend any of the events listed below, please send your name and the name of the organization you are affiliated with to



June 26, 2006



Closing the Implementation Gap:

Why Good Laws Fail and How We Can Help Them Succeed

Dr. Terence Halliday


After over half a century of legal reform initiatives by multilateral and bilateral organizations, a marked improvement in the quality of insolvency, debtor-creditor and secured transactions legislation in developing and middle-income countries can be reported.   Far too often, however, the institutions (regulatory, judicial and otherwise) needed to successfully implement such legislation fall far short of established goals and benchmarks as modern laws in these areas are inherently dependent upon institutional support.   The result can be a ‘good law’ that is poorly implemented which, often, can have disastrous results.  This disconnect between the quality of the ‘law on the books’ and the quality of its implementation is often referred to as the ‘implementation gap’ and is one of the most significant issues facing legal reformers and policy-makers today.  How and why the gap arises and, more importantly, how will we begin to close it?In June, 2006, Dr. Terence Hallidayvisited the Bank to discuss this and other related issues.  His presentation was widely attended and very well received.

Dr. Terence Hallidayis Senior Research Fellow, American Bar Foundation, and Adjunct Professor of Sociology, Northwestern University. A specialist on lawmaking and institution-building, he is currently directing two international research programs on globalization and law, both funded by the National Science Foundation: (1) the globalization of law and markets treats the diffusion of global models for corporate bankruptcy systems, with special emphasis on East Asia; and (2) lawyers and political liberalism, an international collaboration of legal scholars and social scientists that undertakes research on transitions to and from political liberalism, including basic legal freedoms. He has published many books and articles on legal change, including Rescuing Business: Reform of Bankruptcy Law in England and the United States (Oxford, 1998, with Bruce Carruthers) and “The Recursivity of Law: Global Normmaking and National Lawmaking in the Globalization of Bankruptcy Regimes,” (American Journal of Sociology 2006). He is currently completing books on Law, Globalization and Markets and Creating Global Norms, a study of UNCITRAL’s development of the Legislative Guide on Corporate Insolvency. He has consulted with the World Bank, Government of China, OECD, and several U.S. foundations.




September 20, 2006


Odious Debts:
Does the concept exist and, if so, what is its basis in law and utility as a defense?

Dr. Christoph Paulus



Dr. Christoph Paulus is from Berlin, Germany. He has studied law in Munich and completed his LL.M. at UC Berkeley. Since 1994, he has been a Professor of Law at Humboldt University in Berlin, Germany where he teaches civil law (including contract law, law of property, and law of succession), civil procedural law (including law of enforcement and insolvency law) and ancient Roman law. He is seen as one of Europe’s leading experts on the subject of insolvency, particularly with respect to international insolvency.   He has published more than 100 scholarly articles on insolvency and creditor rights-related issues. These articles cover issues of national, transnational, and global interest – the latter due to his active participation in the attempt to come to a statutory solution of the sovereign debt issue; in this context, he was appointed as consultant by the IMF in its efforts to cope with the SDRM.    He is one of the few scholars in the world to have published on the subject of odious debts.


Dr Paulus is a member of the International Association of Procedural Law, the International Insolvency Institute, the American College of Bankruptcy, and the International Academy of Commercial and Consumer Law. On September 26, 2006 he will complete a 6-month consulting engagement at the Bank where he has worked on, among other things, a number of bank publications relating to international insolvency.


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Updated as of: August 31, 2006

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