![]() Cork advocated that the law should encourage a "rescue culture", to restore companies back to profitability, which would be in the longer term interests of creditors. The central argument of the report was that too many companies were simply left to die, when they could be revived, saved or brought to a close in a more orderly way. Insolvency laws were the means by which the demands of commercial morality can be met, through the investigation and the disciplinary measures and restrictions imposed on the bankrupt. ![]() ![]() Insolvency laws were treated by the trading community as an instrument in the process of debt recovery and constitute in many cases, the sanction of last resort for the enforcement of obligations ![]() The two key principles suggested by Cork were: ![]()
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