It is a fact that those who failed in business enjoy an incredibly enhanced rate of business success on re-entering the world of commerce by comparison with those who never experienced such failure. They have learned valuable lessons and have experienced the taste of failure. They have been introduced to the world of closed bank doors and disappearing friends, and they have become aware of the dangers of exposure on a number of fronts. The membership of this club boasts such international household names as Abraham Lincoln, Henry Ford, founder of Ford Motor Company, William Durant, founder of General Motors, and our own Oscar Wilde. How poor would the world be if such luminaries and thousands of other lesser known progressive individuals were consigned to the margins? It is imperative, especially in light of the unprecedented decline in economic circumstances that prevailed when these individuals were endeavouring to establish businesses or homes, that we legislate to ensure the talents and progressive abilities of these people will not be lost to the economy, that they will not be forced out, that their potential contribution will be recognised and embraced and that we will move forward together to build a better future for the generations to come. We have a small country with limited personnel and we cannot afford to expel some of our brightest and most progressive from commerce, which is occurring on foot of our current bankruptcy laws.

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