The European Commission has proposed a directive on ‘preventive restructuring frameworks' for financially distressed firms. I demonstrate that the proposal is flawed because it creates a refuge for failing firms that should be liquidated, because it rules out going concern sales for viable...

The buoyant computer and information technology (IT) industry has been long plagued by the problem of having to re-invent the wheel each time the occasion arises for the construction of legal contracts for IT projects. Each time, much time is expended by managers in the negotiation and...