["International Insolvency Review, EarlyView. ", "\nAbstract\nInsolvency law is one of the mechanisms uniformly used by nations to protect creditors from the ex post risk of non‐payment of their debts emanating from the debtors' insolvency. With the substantial increase in the risk of creditors during insolvency, stronger protection should be accorded to creditors' interests. The complete protection of creditors' interests during insolvency requires not only the safeguarding of creditors' rights in insolvency law but also the correct interpretation and application of the law by insolvency courts, as well as the efficient execution of court decisions resolving the debtor's affairs and guaranteeing creditors' rights to recover their debts. This study, for the first time, evaluates whether the practice of insolvency in Ethiopia effectively protects creditors' interests by critically analysing qualitative interview data and a 25‐year dataset of insolvency court decisions. The study highlights that the practice of insolvency in Ethiopia is inadequate in protecting creditors' interests due to the entrenched deficiencies in the country's institutional and procedural mechanisms, which hinder the correct interpretation and implementation of the law and the execution of court decisions on the ground to protect creditors' interests. There is also a considerable misalignment with international best practices in insolvency applications. Accordingly, the study proposes solutions and reforms (both legal and institutional) to eradicate or mitigate the deficiencies in insolvency practice in Ethiopia, thereby enhancing the protection of creditors' interests.\n"]