Armour, John (contributor); … - 2004
usually in the best
position to sense impending crisis. There is great value in providing incentives –
‘sticks and carrots … costs of resolving disagreements.43 As for healthy companies, so for sick:
whilst the creditors have become the ‘residual …
nearly, factually insolvent the opportunity to replace the board with a ‘crisis’
organ who is accountable to them rather …