Johann Hüthmair
Bury the Debt
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Bury the Debt
Foreword
One of the most stressful experiences in the lifetime of a businessman is that of insolvency, or for the owner-businessman, personal bankruptcy. Yet, when reading the small advertisements in the newspapers, it is clear that it is a fate reserved for numerous people in business.
I clearly recall the angst experienced by a friend who lost his life-savings in a pizza parlour. At three in the morning he would wake up in a sweat after hearing bells ringing in his troubled dreams – the bells clanging out his financial funeral.
Dr. Johann Hüthmair, through his first book "Back from the Brink", has assisted numerous business people to turn around their businesses.
In this latest book "Bury the Debt", he moves even closer to the brink and advises on the debt restructuring of the troubled firm by a detailed analysis of the court’s views on debt restructuring, by analyzing assets and liabilities in a framework of bankruptcy law, by analyzing the role of financial institutions as providers of liquidity and by spelling out alternatives in debt-settlement through out-of-court proceedings.
The book is highly readable in so far as it personally addresses the reader in clear unacademic language. Those with troubled businesses may find it a life-line, the rest of the readers will enjoy the easily-approachable content as imperative business reading.
Eon Smit
Professor and Director
Stellenbosch Business School