Troubled firms wait too long to restructure and bounce back: lawyer

Top lawyer Patrick Ang says 'fear of failure' culture has resulted in firms asking for help too late

Mr Ang's advice to beleaguered firms is to bite the bullet and deliver all the bad news at once. By coming clean quickly with stakeholders, firms can then work on moving upwards.

BT PHOTO: YEN MENG JIIN

Singapore

ASIAN societies' aversion to failure has given bankruptcy a bad name it does not deserve, according to a top lawyer.

This stigma surrounding corporate restructuring and insolvency means ailing companies often wait too long to call in the experts, says Patrick Ang, the