One of Australia’s most experienced insolvency experts has thrown a cat among the pigeons that dominate the corporate restructuring game.
Bill Hamilton, who managed several high profile external administrations in the 1960s, has lifted the lid on a topic that is rarely discussed publicly.
Hamilton says that the big firms handling the bulk of work handed out by the major banks don’t have enough qualified staff.
He says there are two important ramifications from this lack of resources.
Firstly, companies that are under external administration are not being managed efficiently and the additional costs are being borne by creditors.
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James was the editor and publisher of SmartCompany and LeadingCompany for five years. He is now the Australian Financial Review‘s companies & markets editor, and a former BRW editor.
