The ethics of using Chapter XI as a management strategy  

Oleh:

Salem, Mahmoud ; Martin, Opal-Dawn

Jenis: Article from Journal - ilmiah internasional
Dalam koleksi: Journal of Business Ethics vol. 13 no. 2 (Feb. 1994), page 95.
Topik: Ethics; Chapter XI; Management Strategy; Bankruptcy Law

Ketersediaan

Perpustakaan Pusat (Semanggi) Nomor Panggil: BB27.19 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada

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Isi artikel

In the past decade, the use of the Chapter XI has soared to the detriment of many creditors, workers, and consumers. A good number of cases were not based on imminent insolvency, but on firms attempts to avoid litigation claims against them, to terminate labor or other contractual obligations, or to gain new financing. These filings for Chapter XI highlight the use of bankruptcy as a strategic option used by management in running a viable organization. This usage is even advised by some academics and management consultants. While such uses may not be illegal, this paper questions the seeming ease with which a firm may use bankruptcy to escape contractual obligations to customers, suppliers, and other stakeholders. It also questions the "ethics" of the academics and management consultants who recommend such usage. Finally, the paper calls for a change in the law in order to minimize the opportunity for the unethical abuse of the bankruptcy law.

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