External administration in corporate insolvency and reorganisation: The insider alternative


Autoria(s): Chapple, Larelle; Routledge, James
Data(s)

01/07/2015

Resumo

This article considers the merits of alternative policy approaches to management of companies in insolvency administration, in particular from an identity economics theoretical perspective. The use of this perspective provides a novel assessment of the policy alternatives for insolvency administration, which can be characterized as either following the more flexible United States Chapter 11-style debtor-in-possession arrangement, or relying on the appointment of an external administrator or trustee to manage the insolvent company who automatically displaces incumbent management. This analysis indicates that stigma and reputational damage from automatic removal of managers in voluntary administration leaders to "identity loss" and that an insider alternative to the current external administration approach could be a beneficial policy change.

Formato

application/pdf

Identificador

http://eprints.qut.edu.au/91137/

Publicador

Lawbook Co.

Relação

http://eprints.qut.edu.au/91137/1/accepted%20versionLAWREP-023-INSOLVL-JL-0069.pdf

http://sites.thomsonreuters.com.au/journals/2015/07/22/insolvency-law-journal-update-july-2015/

Chapple, Larelle & Routledge, James (2015) External administration in corporate insolvency and reorganisation: The insider alternative. Insolvency Law Journal, 23, pp. 69-80.

Direitos

Copyright 2015 Thomson Reuters (Professional) Australia Limited

Fonte

QUT Business School; School of Accountancy

Palavras-Chave #180105 Commercial and Contract Law #corporate insolvency #insolvency administration #identity loss
Tipo

Journal Article