I am sorry to hear that you are unhappy with The Spongebob Plan. Clearly you do not understand its purpose.
It is intended for directors of small companies who find themselves in the stressful and distressing situation of being insolvent. It is not intended as a way of shafting creditors or phoenixing a company. I am very proud that many hundreds of small company owners have benefitted from it, allowing them to rebuild their lives.
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