Informing the Vote: The Business Rescue vs Liquidation Decision

Background: Non-unitary insolvency systems require an initial choice between liquidation and rehabilitation. For those systems, the decision to further support rehabilitation is often reinforced by estimate of a lesser return in liquidation. The creditors’ either accept or reject business rescue plan depends substantially on comparing proposed value with that mandated plan. Purpose: purpose this study compare actual firms had commenced proceedings but were subsequently liquidated. This exploratory; therefore, our aim use findings derive future research opportunities for scholars explore. Methodology: adopted content analysis approach collecting documents such as plans accounts, which are qualitative nature, describing these through quantitative data analysis. Findings: revealed secured sample, there was significant difference value. unsecured found no Limitations: major limitation access data; huge decline sample size comparison expected size. Value: To researchers’ knowledge, first order determine whether differences exist. As result, tackles novel perspective one influences can affect vote. may be particular importance creditors, who find results useful. Lastly, derived