The appointment of administrators too often leads to the demise of a company anyway. Salvaging rather than saving might be best.
- Senior Lecturer in Business Law and Corporations Law, Griffith University
The majority of bankruptcies occur due to unemployment and excessive credit, rather than business failure.
Proposed laws to reform the insolvency industry are long overdue. Under the changes, liquidators will require a licence and creditors will be able to remove poorly performing practitioners. The reforms…
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