Governance of Distressed Firms

Governance of Distressed Firms

Corporations, Globalisation and the Law series

David Milman

The concept of a distressed firm covers businesses that are struggling, but have not yet entered formal insolvency, as well as those businesses that are undergoing a formal insolvency process. With reference primarily to English law, this study encompasses both limited liability companies and limited liability partnerships with a focus on the regulation both of company directors and insolvency practitioners. It offers recommendations for improvements in governance mechanisms and notes that many of the governance shortfalls that occur can be related to the ease of access given to those who wish to trade with the benefit of limited liability.

Appendix 2: List of selected statements of insolvency practice

David Milman

Subjects: law - academic, company and insolvency law, corporate law and governance


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