The Effectiveness of Moroccan Insolvency Law under Law 73-17: A Critical Analysis of Creditor Protection in Light of Empirical Evidence

Law No. 73-17 on the treatment of business difficulties represents one of the most significant reforms of Moroccan business law since the adoption of the Commercial Code in 1996. Drawing inspiration from comparative experiences, particularly French insolvency law and the OHADA legal framework, this reform seeks to promote a culture of early prevention, ensure business continuity, and strengthen creditor protection. Several years after its implementation, however, questions remain regarding its actual effectiveness. Using a mixed-method approach that combines doctrinal analysis, jurisprudential examination, and empirical investigation, this article evaluates the extent to which the reform has achieved its intended objectives. The findings indicate that although Law 73-17 has substantially modernized the Moroccan insolvency framework, its effectiveness remains constrained by institutional, economic, and cultural barriers. The study highlights a significant gap between the ambitions of the legislator and the realities of practical implementation. It concludes that strengthening procedural governance, judicial specialization, and preventive business culture is essential to improving the effective protection of creditors in Morocco.