I also practised corporate and commercial law for many years, and I always felt that it was easier to tell my clients they were right. That's a good starting point and I understand where you are coming from. But if you look further into the matter, and this is something I have brought to the attention of many of our fellow lawyers who have made the same argument, there are many countries where our clients do business and where the creditor hierarchy is different in case of bankruptcy. Yet that hasn't stopped those companies from getting financing in those countries.
That statement is perceived as a truism, but I am asking you to elaborate on it. As sure as my name is Thomas, you still haven't managed to convince me.