External administration in corporate insolvency and reorganisation: The insider alternative
Chapple, Larelle & Routledge, James (2015) External administration in corporate insolvency and reorganisation: The insider alternative. Insolvency Law Journal, 23, pp. 69-80.
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.
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|Item Type:||Journal Article|
|Keywords:||corporate insolvency, insolvency administration, identity loss|
|Subjects:||Australian and New Zealand Standard Research Classification > LAW AND LEGAL STUDIES (180000) > LAW (180100) > Commercial and Contract Law (180105)|
|Divisions:||Current > QUT Faculties and Divisions > QUT Business School
Current > Schools > School of Accountancy
|Copyright Owner:||Copyright 2015 Thomson Reuters (Professional) Australia Limited|
|Deposited On:||10 Dec 2015 02:07|
|Last Modified:||12 Dec 2015 16:04|
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