Business failure in Australia requires liquidators to maximise the return for the creditors. Chapter 11 in America is a debtor driven system. What could possibly be wrong with that? Watch the Thought Bubble #2 video (below) to find out.
Is this an American business import Good for Australia? Chris Baskerville and Bill Cotter chat through the issues.
Business owners need to understand some of the proposals being made by some in the name of ‘getting things back on track’.
Back in August in the Australian Financial Review Michael Cranston outlines the need to be cautious about an idea of adopting an American style regime for Small Business Insolvency.
These ideas may seem great on the face of then. Important too, however, as we navigate out of the Crisis – we must understand the motives of those who put these ideas forward and what might happen if we don’t consider the knock on effects.
Chris and Bill talk about the challenges they see with changing things midstream and applying a completely different way of thinking. What are the implications for small business credit?
