Make insolvency great again

One of the great criticisms of the new President of the United States of America is that his companies filed for bankruptcy four times when he was a business mogul.

In truth Donald Trump utilised various provisions of Chapter 11 of the US Bankruptcy Code to restructure his businesses. In an effort to encourage a similar level of entrepreneurial spirit, a mere 14 days after his election the EU Commission unveiled plans to adopt a pan-European regime which closely mirrors much of the US’s Chapter 11.