A critical analysis of the reasons why companies fail/go into administration/liquidation. Relevance to different

Код 322753
Дата создания 08 июля 2013
Страниц 2
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A critical analysis of the reasons why companies fail/go into administration/liquidation. Relevance to different

Фрагмент работы для ознакомления

Also I analyzed differences in law about administration/liquidation, which may be more creditor-oriented or debtor-oriented, the number of causes, their variety and significance differ from one country to another one. In the cases, where the law lets creditors and debtors to revise and review their position, bankruptcy can be on time prevented, giving the both parties a better chance to recover and get the money loaned.
In the process of investigation I came up to conclusions that in spite of the economic crisis, property rights are generally clear when a firm is functioning well. But when the firm can no longer pay its bills, the enforcement of property rights becomes more critical. Different claimants are trying to divide up an inadequate pie. This is the role of bankruptcy law. And byoverseeing the orderly dissolution of firms, bankruptcy law plays an essential part in the process of Schumpeterian creative destruction. Capital is recycled from less efficient to more efficient uses.
For example, American law has always limited the ability of creditors to use the legal process. Due process requires that a debtor should have an opportunity to be understood. A general creditor cannot unilaterally seize the debtor's property after declaring a default. The debtor must be provided with the chance to appear in court and contest the creditor's claim that there has in fact been a default.
So my investigative study topic helped me to analyze and understand the critical factors and reasons of company’s failing / going into administration/liquidation. This topic seems to me very useful and helpful from the point of view of companies getting involved in the bankruptcy process. They should clearly know what the “rules of the game” are and how the process operates.
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