On this episode of The Dismal Science, Stephen and Ivan talk Brexit and welcome their first guest, AICD Senior Policy Adviser Lysarne Pelling, who came in to discuss proposed safe harbour laws that could save companies from painful insolvencies.
Discussed in this episode:
[0:59] UK triggers article 50
[1:15] Stephen's reaction the day of the Brexit vote
[1:35] Maastricht Treaty
[2:09] >50% of UK trade is with the EU
[2:24] Gloomy forecasts for UK economy
[3:58] Requirement EU 27 unanimity
[4:11] Nationalist parties on the rise in Europe
[4:58] Impact on UK financial services
[9:55] Draft insolvency law reforms
[10:41] When does safe harbour apply?
[10:52] Severe penalties for insolvent trading
[12:27] Insolvency law in UK and Singapore
[13:24] Arrium administration's effect on Whyalla
[15:43] Distressed debt funds
[15:55] US Chapter 11 provision
[16:51] Productivity Commission on an Australian Chapter 11
[19:20] Email Lysarne your thoughts
[20:00] RBA cash rate
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