Should countries adopt U.S.-style provisions which allow compani

Should countries adopt U.S.-style provisions which allow companies to trade in bankruptcy?

Chapter 11 of the U.S. Bankruptcy Code governs reorganisation (as opposed to liquidation). When a business decides that it is technically insolvent (i.e. cannot meet its debts) it may choose or its creditors may force it to file for bankruptcy. Under Chapter 11 provisions, the court has the option of supervising the reorganisation of the company’s debts. This can involve reducing or writing them off, so the company can re-emerge from bankruptcy as a viable entity. There have been recent high-profile examples such as United Airlines. Some other countries see Chapter 11 as a model for how to make the most of a situation where a basically sound company is crippled by its debt burden.

In the Uk you can now start another business after 6 months bankruptcy

lol Im glad I live here now

"Wow, someone needs to get out more."

You have to admire the irony, don't you?