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receivership Tagged Articles
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Should the UK and the Eurozone adopt America’s Chapter 11 format for bankruptcy?
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| In America, when a company gets into difficulty it can file for what is called Chapter 11 which is named after the U.S. bankruptcy code 11. Chapter 11 is a form of bankruptcy that involves a reorganisation of a company's business affairs and assets and it generally filed by corporations that require time to restructure their debts.
In essence, Chapter 11 gives the company a fresh start, subject to the company's fulfillment of the obligations under its plan of reorganisation. Whereas in the UK, for example, a company has to either go into receivership or liquidation.
Where a company goes into liquidation the business ceases and the company's directors appoint a liquidator to sell the assets of the company in order to pay off as many of it's creditors as is possible. |
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The Bygone Era of If You Build It They Will Come
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| The author discusses how companies in industries that have traditionally relied on being the only game in town (sports) or the "newest, nicest, biggest, best" (high end golf) have had to invest in a renewed focus on service and "customer experience" in order to differentiate themselves from the competition. |
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Other receivership Related Articles
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Should the UK and the Eurozone adopt America’s Chapter 11 format for bankruptcy?
| |
| In America, when a company gets into difficulty it can file for what is called Chapter 11 which is named after the U.S. bankruptcy code 11. Chapter 11 is a form of bankruptcy that involves a reorganisation of a company's business affairs and assets and it generally filed by corporations that require time to restructure their debts.
In essence, Chapter 11 gives the company a fresh start, subject to the company's fulfillment of the obligations under its plan of reorganisation. Whereas in the UK, for example, a company has to either go into receivership or liquidation.
Where a company goes into liquidation the business ceases and the company's directors appoint a liquidator to sell the assets of the company in order to pay off as many of it's creditors as is possible. |
|
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