Managing Failure: American Bankruptcy Law at a Crossroads

Case Solution

David A. Moss, Mary Oey, Jonathan Lackow
Harvard Business School ()

It introduces the basic principles and challenges of bankruptcy law (for both individuals and businesses) in the early 1970s, when the US bankruptcy system seemed to be failing. With record personal bankruptcy records and relatively rare successful corporate reorganizations, lawmakers had to decide whether the time was right to review the country’s bankruptcy law and, if so, how the new system should be designed.

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