This review considers two recently published texts, Company Directors' Responsibilities to Creditors by Andrew Keay, hereafter identified as Keay's text, and Directors' Duties During Insolvency by Allens Arthur Robinson, hereafter identified as Allens' text. Where possible comparisons are drawn...

ENGLISH ABSTRACT: To date, there has been significant research completed on the topic of corporate financial distress. Two pioneering researchers in the field of predicting financial distress was Beaver in 1966 and Altman in 1968. More recent research, based on companies listed on the JSE has...

Why do banks remain passive? In a model of bank-firm relationship we study the trade-off a bank faces when having defaulting firms declared bankrupt. First, the bank receives a payoff if a firm is liquidated. Second, it provides information about a firm's type to its competitors. Thereby,...