A review on the efficient management of court receivership

Abstract

The constant maintenance, growth and development of the corporation is the basic motto and objective of a corporation. The recent intensification of the limitless competition across the national borders has resulted in signifiant changes in management environment. Differences in corporations's abilities to face such rapid environmental changes can now critically determine their corporate destiny. Some will prosper while others will go bankrupt For example, stagnation of real estate economy for recent 2 years has brought about the bankruptcy of many major construction companies such as Hanyang, Yuwon, Woosung, Kunyoung and Dongshin. This year, even big conglomerates such as Jinro, Daenong and Kia are experiencing serious debt problems. The reasons for this bankruptcy parade vary. First, the increasing unpredictability in the market can be pointed out as the external reason for bankruptcy. The corporation's reckless expansion policy without developing its ability to manage the coming crises should be listed as the second reason. The bankruptcy of a corporation having a certain size and gravity can lead to a huge social and economic consequences. This not only results in an imbalance of the industrial sector where the company belongs to but also threatens the survival of the companies having a relationship with it. Not to mention the conflicts among different interest owners.