Quote:
Originally Posted by Peter Ward
Meade have gone broke before.
As to whether they go chapter 11 will be interesting.
BTW Chapter 11 is a farce IMHO, it effectively allows their (USA) Companies to trade while insolvent....free trade? Hardly !  |
Hi Peter, you can look at this two ways. In Australia if you go bankrupt, essentially it is over. All your hard work building the business, and the livelihoods of your employees come to an end.
The American system is somewhat more tolerant of failure. Bankruptcy allows you to try and negotiate a way out with your creditors to save the business as a going concern. If the US system was like Australia, many major US businesses would not be here today (GM, Airlines etc).
There are a lot strong views either way.