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Business Daily: Bankruptcy Brothel?

26/02/2010

Bankruptcy Brothel?

BBC World Service - Business Daily, Bankruptcy Brothel?

Is Britain at risk of becoming the 'bankruptcy brothel' of Europe?

Is Britain at risk of becoming the 'bankruptcy brothel' of Europe? The BBC's Jon Bithrey reports on the pre-packaged administration laws which have attracted foreign companies to Britain.

Recession has brought a rising toll of failing companies, with all the misery that entails for workers, owners and creditors. Reaching a fair agreement, enabling the  company to survive and retain some jobs, is always difficult. 

But globalisation and cross border operations make it even harder. There has been mounting controversy about whether some companies switch their headquarters from country to country just before they fail, only to rise again, phoenix-like.  

The main focus of the criticism is Britain. Some argue there is a risk that the UK will become the 'insolvency brothel' of Europe.  The BBC's Jon Bithrey reports on the British bankruptcy laws which attract foreign interest.

Plus author Tony Buzan explains his concept of Mind-Maps, designed to help people think clearly.

And our Washington-based commentator James Srodes wonders whether companies can ever  become too big.

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