Creditors' Winding Up in Bangladesh: A Critical Study on the Legal Framework

Abstract

This study aims to analyze the legal framework for creditors' winding up in Bangladesh, identify the practical challenges faced by creditors during the process, and compare Bangladesh's framework with other jurisdictions. The research employs a qualitative methodology, including a comprehensive review of relevant literature, case studies, and interviews with key stakeholders. The findings suggest that while Bangladesh's insolvency laws provide for creditors' winding up, there are significant practical challenges, such as delays in court procedures, lack of coordination among stakeholders, and inadequate enforcement mechanisms. The study concludes with policy recommendations to improve the creditors' winding up process in Bangladesh.