Journal of Business Ethics 55 (1):31 - 42 (2004)
|Abstract||This paper explores the American bankruptcy system - especially the Chapter 11 code - which since 1978 has allowed insolvent companies the opportunity to restructure and reorganise with the benefit of court protection from creditors. Particular attention is focused on asbestos companies, such as Johns-Manville, which have been among the most consistent and controversial filers for bankruptcy under Chapter 11. The history of asbestos and Chapter 11 is explored, against the backdrop of the burgeoning asbestos "crisis", caused by increasing mortality and litigation. Some of the business and ethical issues involved are highlighted by examining in detail a recent bankruptcy (Federal Mogul/T&N in 2001) that has implications in both Britain and America. Chapter 11 bankruptcy is evaluated, particularly in the light of the trend towards similar mechanisms of insolvency in the UK, Europe and the rest of the world. It is concluded that, certainly as regards the experience with asbestos, Chapter 11 offers an inefficient and inequitable method of rehabilitating or rescuing failing businesses.|
|Keywords||No keywords specified (fix it)|
|Categories||categorize this paper)|
|Through your library||Configure|
Similar books and articles
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.
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.
Dinah Payne & Michael Hogg (1994). Three Perspectives of Chapter 11 Bankruptcy: Legal, Managerial and Moral. [REVIEW] Journal of Business Ethics 13 (1):21 - 30.
A. R. Gini (1984). Manville: The Ethics of Economic Efficiency? [REVIEW] Journal of Business Ethics 3 (1):63 - 69.
H. Nico Plomp (2013). The Contribution of Health Professionals to the Creation of Occupational Health Standards: The Impact of Professional Ethics in the Case of Asbestos. Public Health Ethics 6 (1):73-89.
Geoffrey Tweedale & Richard Warren (1998). A Case in Point: Morality and Paternalism in the Asbestos Industry: A Functional Explanation. Business Ethics 7 (2):87–96.
Janis Wardrop, Tracy Wilcox & Peter Sheldon (2007). The James Hardie Group and Asbestos Compensation (Abridged). Proceedings of the International Association for Business and Society 18:513-515.
Katrina A. Bramstedt (2011). Finding Your Way: Through the Maze of Medical Ethics in Modern Health Care. Hilton Pub..
Mahmoud Salem & Opal-Dawn Martin (1994). The Ethics of Using Chapter XI as a Management Strategy. Journal of Business Ethics 13 (2):95 - 104.
Linda Klebe Treviño (2010). Managing Business Ethics: Straight Talk About How to Do It Right. Wiley.
Veronica Boutte (2002). The Phenomenology of Compassion in the Teachings of Jiddu Krishnamurti, 1895-1986. Edwin Mellen Press.
Danielle S. Allen (2010). Why Plato Wrote. Wiley-Blackwell.
Stuart Firestein (2012). Ignorance: How It Drives Science. Oxford University Press.
Michael Bell (2011). An Invitation to Environmental Sociology. Pine Forge Press.
Added to index2011-05-29
Total downloads3 ( #212,976 of 722,700 )
Recent downloads (6 months)0
How can I increase my downloads?