The happy bankrupt

In New Zealand, dozens of people are made bankrupt every week. (Image: Getty)

Sat, 27 Aug 2022

For decades, Dad was a boom-and-bust businessman in the shark-infested waters of Aussie commercial real estate. He once said to me: “Son, never be afraid of your third bankruptcy!” I laughed. I wasn’t in a dodgy industry like his and didn’t anticipate bankruptcy.Anyone I knew who’d been bankrupted seemed diminished by the experience. It was often because of some disastrous business decision. After the fall, they’d drop out of sight for a long while. Most ended up in less-demanding employment. Others...

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