Economics, Econometrics and Finance
8 years ago

American corporate bankruptcy system preserves assets and prevents creditor chaos.

Cambridge University Press eBooks
Financial and political theories of American corporate bankruptcy
Barry E. Adler

Paper Summary

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American corporate bankruptcy is a process that protects a company's assets from creditors trying to collect debts. This process helps keep the company intact and prevents chaos among creditors. The bankruptcy system is seen as a necessary evil to avoid a destructive race among creditors.