Capitalism is a barbaric and unforgiving system, especially toward the working people and the planet on whose shoulders it stands—exploiting human beings and nature alike. Yet, with the help of the state and government, it designs policies and processes that help to socialise the crisis, forgiving corporations when they fail to repay their borrowings due to insolvency or bankruptcy. Insolvency is a financial situation which triggers legal process of discharging debts that cannot be repaid by the debtor. From Lehman Brothers in the US during the 2008 crisis, to Mr Subhash Chandra’s Rs 22,006-crore debt being written down to just Rs 6.5 crore in the personal insolvency proceedings recently concluded in India in…
Insolvency Guardian
Insolvency Services & Bankruptcy Advice
