The failure of bank bankruptcy system in Iranian legal system

The financial crisis causes many writers to have become concerned about the effectiveness of existing bankruptcy laws، which encompasses both the usefulness of reorganization and liquidation laws، as well as efficiency of the judicial system to uphold the laws in court. This concern is accompanied in our legal system with the privatization movement has resulted many banks owned by the government to be privatized. This let us to conclude that the previous system of bankruptcy may fail to respond to new challenges as overcome by different legal systems around the word. The aim of this paper is scrutinize the bankruptcy of banks in our legal system and propose the amendments required to make an efficient and effective system of bank bankruptcy.