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Small businesses, the majority of Spanish firms, rarely file for formal bankruptcy when dealing with financial distress …. This is why business bankruptcy rates in Spain are among the lowest in the world, even during the current economic crisis …. To explain this fact we present the following hypothesis. Filing for bankruptcy in Spain is very costly for both small …
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The duty imposed on company directors under Australian law to not have the company of which they are a director trade while it is insolvent is controversial. The recent introduction of a safe harbour for directors' personal liability for breach of the duty to prevent insolvent trading highlights...
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This article compares reforms to directors' liability for insolvent trading in Singapore and in Australia. The authors analyse the law in these two countries because they are important Asia-Pacific trading partners and their laws were originally largely the same – Singapore's law on insolvent...
Persistent link: https://www.econbiz.de/10012844974
While the majority of those who declare bankruptcy do so voluntarily, a significant proportion are forced into … bankruptcy as a result of legal action. This paper interrogates data obtained from the Australian Financial Security Authority to … venture or a managerial or professional occupation – meaning that they are more likely to resist bankruptcy until they are …
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This article presents the results of the first empirical study focused on older Australians in bankruptcy. Our study … — based on the examination of a large and unique dataset obtained by the authors from the bankruptcy regulator — provides a … most significant causes of bankruptcy for older Australians as well as some possible explanations for their financial …
Persistent link: https://www.econbiz.de/10012897411
In May 2015 the Productivity Commission released its Draft Report ‘Business Set-up, Transfer and Closure'. This research note does not deal with the broad range of issues touched on by the Productivity Commission. Instead, it concentrates on those matters relating to corporate insolvency and...
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Bankruptcy has always been a source of significant stigma. The first Elizabethan statutes regarded bankruptcy as a … recognised that bankruptcy serves important economic objectives, by encouraging entrepreneurial risk-taking and offering …. The early laws of the Australian colonies took a similarly pragmatic approach, and the current federal Bankruptcy Act 1966 …
Persistent link: https://www.econbiz.de/10013002755