Currency Value
Sir,—You recently published a most interesting article on the prospects and results of devaluation of sterling and (U.S.A.) dollar currency. The following view may be correct. A limited liability concern that cannot meet it's commitments or liabilities can, by going into voluntary liquidation, legally (if not morally) discharge its liabilities. An individual, similarly placed, files a petition in bankruptcy, with similar results. The assets in each case become the property of the creditors, via a liquidator or the Official Assignee and realise say 5s in the pound. Is this not the same effect as, say, a 75 per cent de-valuation? I look forward to learning where I err.— Yours, etc., BUNG. August 18, 1966.
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Press, Volume CVI, Issue 31143, 20 August 1966, Page 14
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116Currency Value Press, Volume CVI, Issue 31143, 20 August 1966, Page 14
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