Ethical issues in bankruptcy: A jewish perspective [Book Review]
David Bourget (Western Ontario)
David Chalmers (ANU, NYU)
Rafael De Clercq
Jack Alan Reynolds
Learn more about PhilPapers
Journal of Business Ethics 9 (10):785 - 789 (1990)
The ethical issues involved in bankruptcy affect the debtor, the creditor and the society in which they operate. Facing the debtor is his responsibility to pay back the loans and credit extended to him while the creditor has to decide whether or not to press his legal rights, irrespective of the consequences to the debtor. Society will have to determine to what extent, if any, it is prepared or obligated to fund the rehabilitation of the debtor and those employees, whose employment is terminated as a result of the bankruptcy. These issues will be determined according to the value structure of the particular souly in which debtor and creditor operate. This paper views the issues in a Jewish perspective. Debtors are considered to always be liable for their debts and there is a moral shame attached to bankruptcy, except in those cases where it is caused by natural disasters. While creditors are taught and encouraged to voluntarily waive their rights, this is considered charity with all its negative overtones. The courts are obligated to review the debtors assets and sell them, if necessary, to meet the creditors loans, leaving only basic necessities for minimal living of the debtor and his family. Society however, including the creditor, a part of the group, are obligated to fund the rehabilitation of the debtor either through its interest-free loan, charity or the provision of alternative employment. These may be funded out of communal taxes.
|Keywords||No keywords specified (fix it)|
|Categories||categorize this paper)|
Setup an account with your affiliations in order to access resources via your University's proxy server
Configure custom proxy (use this if your affiliation does not provide a proxy)
|Through your library|
References found in this work BETA
No references found.
Citations of this work BETA
Geoffrey Williams & John Zinkin (2010). Islam and Csr: A Study of the Compatibility Between the Tenets of Islam and the Un Global Compact. [REVIEW] Journal of Business Ethics 91 (4):519 - 533.
Similar books and articles
Thomas E. Plank, Sense and Sensibility in Securitization: A Prudent Legal Structure and a Fanciful Critique.
Dinah Payne & Michael Hogg (1994). Three Perspectives of Chapter 11 Bankruptcy: Legal, Managerial and Moral. [REVIEW] Journal of Business Ethics 13 (1):21 - 30.
Brad Johnson, B. R. Baliga & John D. Blair (1986). Chapter 11: Strategic Advantage and Social Anathema? [REVIEW] Journal of Business Ethics 5 (1):51 - 61.
Geoffrey Tweedale & Richard Warren (2004). Chapter 11 and Asbestos: Encouraging Private Enterprise or Conspiring to Avoid Liability? Journal of Business Ethics 55 (1):31 - 42.
Tweedale Geoffrey & Warren Richard (2004). Chapter 11 and Asbestos: Encouraging Private Enterprise or Conspiring to Avoid Liability? [REVIEW] Journal of Business Ethics 55 (1):31-42.
Elizabeth Anderson (2004). Ethical Assumptions in Economic Theory: Some Lessons From the History of Credit and Bankruptcy. [REVIEW] Ethical Theory and Moral Practice 7 (4):347 - 360.
Kenneth Decourcy Ferguson, Discourse and Discharge: Linguistic Analysis and Abuse of the 'Exemption by Declaration' Process in Bankruptcy.
Added to index2009-01-28
Total downloads14 ( #118,695 of 1,099,746 )
Recent downloads (6 months)2 ( #189,420 of 1,099,746 )
How can I increase my downloads?