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Provide a 10 pages analysis while answering the following question: Corporate Failure Maxwell Communications. Prepare this assignment according to the guidelines found in the APA Style Guide. An abstr
Provide a 10 pages analysis while answering the following question: Corporate Failure Maxwell Communications. Prepare this assignment according to the guidelines found in the APA Style Guide. An abstract is required. In Britain rates of insolvency have risen to historic highs, punctuated quite dramatically by company failures from Rolls Royce through the Olympia and York failure (the developers of London's Docklands), and the collapse of the Maxwell communications empire. Because struggling debtor corporations frequently raid their pension funds for cash, which consequently are under-funded when companies declare bankruptcy, significant private costs have been off-loaded onto the government. Furthermore, failing firms do not pay their taxes, and so the tax authorities frequently join the list of unpaid creditors (Altman2003).
Yet bankruptcy is not without its beneficiaries. Just as a deadly epidemic is lucrative for undertakers and morticians, the vast sums of money involved in the largest corporate bankruptcies have exerted a magnetic effect on the most sophisticated--and expensive--corporate lawyers and accountants.
