External Administration in Times of Uncertainty

Abstract

The current and ongoing economic environment in Australia is uncertain and challenging. The Australian economy is suffering from a general decline in economic outlook both in the short and medium term. The current economic climate of wildly fluctuating values and returns poses the question of how external administrators are to deal with those circumstances. Is it, for example, reasonable for them to assume that it is "business as usual"?

Keywords: insolvency, financial uncertainty, global financial crisis, external administration

JEL Classification: K00, K39