Insolvency Law

1- Oscala referencing style.
2- The word count (3300) is excluded the footnotes and bibliography.
The existing law allows a creditor, by private agreement with the debtor, to promote the priority of its claim over and above those of the debtor’s unsecured creditors. The economic efficiency of the recognition of secured credit has been intensely contested in academic writing both in the United States and elsewhere.
To what extent is the recognition of secured credit economically efficient.