» » »

Insolvency Inverness

As globalisation has created international bankruptcies, insolvency courts in different countries have had to deal with each other more often and have begun to see the advantages in making their systems more compatible – and they are tending to chose the US approach.

Mckenzie Law Practice
01463 713718
6 Queensgate
Inverness

Data Provided by:
Anderson Shaw & Gilbert
01463 236123
20 Church Street
Inverness

Data Provided by:
Highland Solicitors Property Centre Ltd
01463 231173
30 Queensgate
Inverness

Data Provided by:
Crown Law Practice
01463 667850
3 Crown Circus
Inverness

Data Provided by:
Ferguson & Wilson
01463 222221
24 Union Street
Inverness

Data Provided by:
Ledingham Chalmers Solicitors
01463 713071
Kintail House
Inverness

Data Provided by:
Macarthur & Co
01463 234445
7 Ardross Street
Inverness

Data Provided by:
Craig Wood Solicitors
01463 225544
16 Union Street
Inverness

Data Provided by:
Fleetwood & Robb
01463 226232
11 Queensgate
Inverness

Data Provided by:
James Stewart & Co
01463 718867
2 Ardross Street
Inverness

Data Provided by:
Data Provided by:

Insolvency

Provided by: 

insolvencyThe issue of insolvency shows how different attitudes to business in the US can be to those in Europe. In America, going bust can carry no stigma at all – people can even get plaudits for having tried their hand at entrepreneurship. In Europe, bankruptcy has traditionally been associated with failure, shame and punishment.

But the US is winning the argument and the rest of the world is starting to copy its approach. Broadly speaking, territories can be divided into two types on the subject of insolvency – those that favour the debtor and those that favour the creditors. The US has been a great exponent of favouring the debtor and US law is much more about trying to reach a resolution and letting the debtor go forward again.

As globalisation has created international bankruptcies, insolvency courts in different countries have had to deal with each other more often and have begun to see the advantages in making their systems more compatible – and they are tending to chose the US approach. In Sweden, for example, one of the biggest company restructurings in 2006 ended up not with the death of the business, but with it doubling size (after acquiring another) and with the original owners keeping 25% of the shares.

In the past decade, several countries have revamped their insolvency laws, including Germany, Belgium, England, Spain and France.

Click here to read the rest of this article from TakeLegalAdvice