Bankruptcy, or more precisely insolvency, is a normal part of corporate life, though not an inevitable one. So it is good to know that a new draft law has been introduced, intended to make the process more efficient while reducing the associated social stigma and legal penalties. The next challenge is to consult the various stakeholders and get the new rules into effect.
Around the world, plenty of respectable companies have had to declare bankruptcy over the years, after changing conditions eroded markets or raised costs, or when bad decisions led to grim consequences.
Going bankrupt is in fact a key element of capitalism: competition means some firms prosper, some struggle along, and some go broke.
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