Commentary on Boshkoff, Some Gloomy Thoughts Concerning Cross-Border Insolvencies

The fruits of long experience suggest that caution and skepticism are essential qualities of mind with which to approach the phenomenon of cross-border insolvency and the multiple problems generated thereby. Pessimism may thus be acknowledged as closely akin to realism for the current purpose

Commentary on Aghion, Hart, and Moore, Improving Bankruptcy Procedure

I would consider it most unlikely that their radical model for determining the fate of insolvent companies will be incorporated into any legislative proposals that emerge from the current review. From the standpoint of most of the interested parties involved in the operation of U.K. insolvency law, Aghion, Hart, and Moore\u27s suggested process of mandatory transubstantiation, whereby debt is converted into equity on the stroke of midnight, as it were, is likely to prove too daunting both in conceptual and in practical terms