Our name
A legacy of leadership.
Mackay Goodwin is named after two British liquidators, Rod Mackay and William Goodwin.
In the late 19th century, an iron and armour plate manufacturer in Millwall, and a leather bootmaker in Whitechapel Street, London, went bankrupt. Mackay and Goodwin liquidated the two businesses, and the two cases (the Jeavons Case and the Salomon Case, respectively) went on to form powerful legal precedents, including the pari passu or 'equal footing' rule.
Thanks to Mackay's work on the Jeavons Case, these insolvency laws still apply today. They make sure all creditors in the same class are treated the same, repaid at the same time and at the same fractional amount as every other creditor in that class.
From the Salomon Case, Goodwin contributed to 19th century insolvency reform, establishing that any person, even the smallest business, will be protected from hardship following business insolvency.