As a former financial counsellor and former consumer credit educator for ASIC, here’s what I think you need to know if you’re considering mortgage deferral, rent relief or bankruptcy.
Robert Earle, University of Zurich; Jung Park, International Institute for Management Development (IMD), and Karl Schmedders, International Institute for Management Development (IMD)
They stumble around, baying for assistance, hoping to drink the lifeblood of other companies’ financial aid.
The bankruptcy system has always been difficult to navigate, especially for minorities and other vulnerable groups. The pandemic is making it a lot harder.
While critics accuse companies facing lots of lawsuits of using bankruptcy as a sort of ‘get of jail free card,’ the reality of the legal procedure is more complicated.
Once-leading firms such as Chrysler, Citigroup, Dunlop and Nokia have one thing in common: they failed. While each case seems unique, research points to key processes that lead to corporate failures.
OxyContin maker Purdue has reportedly been mulling a bankruptcy filling, just as the first of around 2,000 lawsuits against it prepares to go to trial.
A lucky South Carolinian came forward to claim the $1.5 billion Mega Millions jackpot. Academic research has some suggestions about what the winner should do next.