The main motivation for the workshop is to shed more light on insolvencies, which as the dark side of firm dynamics have so far received little scientific attention despite their important role for a functioning economy. The insolvency law should set the selection framework that liquidates inefficient companies to reallocate resources and protect creditors. By contrast, companies which are actually efficient and are only suffering a temporary crisis should have the option to restructure and continue their business. This workshop will focus on the economic effects of different insolvency laws and their reforms.