The Ethics of Bankruptcy (Professional Ethics)

The fundamental ethical problem in bankruptcy is that insolvents have promised to pay their debts but can not keep their promise. The Ethics of Bankruptcy examines the morality of bankruptcy. The author compares and contrasts the Humean doctrine of promises as useful conventions with the Kantian view of autonomous agency constituting promissory obligations; he explores ethical concerns raised by forgiveness, utilitarianism and distributive justice and the moral aspects of insolvents' contractual, fiduciary, tortious and criminal liability. Finally, the author assesses recent bankruptcy law reforms. Bankruptcies severly hurt creditors and society. For the insolvents and their families the experience is painful and stigmatising, yet philosophers have paid little attention to the moral aspects of this violent social phenomenon. The Ethics of Bankruptcy is the first comprehensive study that employs the tools of ethics to examine the controversies surrounding insolvency, which makes valuable and sometimes controversial reading in a decade recovering from the Recession. 1. The Institution And The Conflicts Behind It -- 2. Natural Law, Consequentialism And Contractualism: Theories Of Promising And Their Shortfalls -- 3. In Search Of The Ultimate Obligation: Why A Metaethical Affair? -- 4. Ethics Founded On Autonomy: A Modest Objectivist Foundationalist Interpretation Of Kant -- 5. Autonomy And Promissory Obligations -- 6. Going Broke, Breaking Promises -- 7. Deontological Ethics And Insolvency -- 8. What Kind Of Discharge? -- 9. Propping Up Civil Liability: Contract, Breach Of Trust And Tort -- 10. Punishment -- 11. Bankruptcy Law Reform: An Ethical Perspective -- 12. Gearing Up, Crashing Loud: Should High-flyers Be Punished For Insolvency? -- 13. Corporate Moral Personhood -- 14. Moral Responsibility For Corporate Debts. Jukka Kilpi. Includes Bibliographical References (p. [208]-213) And Index. The Ethics of Bankruptcy examines the morality of bankruptcy. The author explores ethical concerns raised by forgiveness, utilitarianism and distributive justice and the moral aspects of insolvents' contractual, fiduciary, tortious and criminal liability. This is the first comprehensive study that employs the tools of ethics to examine the controversies surrounding insolvency, which makes valuable and sometimes controversial reading in a decade recovering from the Recession. This text compares and contrasts the Humean doctrine of promises as useful conventions with the Kantian view of autonomous agency constituting promissory obligations. Finally, the author assesses recent bankruptcy law reforms, examining British and European modes of dealing with bankruptcy as opposed to American methods.