Bankruptcy administrator

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The obsequious[1] fellow who comes in when all your employees are wandering around the plaza outside the office clutching an Iron Mountain box full of gonks, tombstones, photos of pets, and out-of-date copies of that shitty FT book about derivatives. his, or her, job is to sort out all your contracts, close out the derivatives (cherry-picking where possible of course!), liquidate all assets and distribute the proceeds to credits.

Your whole 25 year professional career boiled down, yesterday.

It sounds easy but there is a lot of devil in the detail.


References

  1. He’s not really obsequious but it just seemed like the right word. It flowed. You know?