Rescuing Business: The Making of Corporate Bankruptcy Law in England and the United States

Hardcover | July 1, 1998

byBruce G. Carruthers, Terence C. Halliday

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Corporate bankruptcy is a defining characteristic of the market economy. It encapsulates the fundamental conflicts between capital and labour, owners and managers, debtors and creditors, the state and the market. Yet, with one or two notable exceptions, the political and social dynamics ofbankruptcy law and practice have been overlooked by serious socio-legal scholars. This book remedies that neglect. Adopting an approach that compares English and American law, the authors identify the underlying political forces that established corporate bankruptcy law on both sides of the Atlantic. The book demonstrates how, by a recursive loop of professional self-interest,corporate insovency regulation is the creation of the lawyers who interpret and administer it. This book will be welcomed as an important sociological study and advances our understanding of how substantive law results from conflicts among the professionals who help to create it.

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Corporate bankruptcy is a defining characteristic of the market economy. It encapsulates the fundamental conflicts between capital and labour, owners and managers, debtors and creditors, the state and the market. Yet, with one or two notable exceptions, the political and social dynamics ofbankruptcy law and practice have been overlook...

Bruce G Carruthers is Associate Professor in the Department of Sociology of Northwestern University. He was educated in Canada and the USA. He received his doctorate from the University of Chicago and has taught at Northwestern University since 1990, where he is Graduate Director of the sociology program. He is a consulting editor ...

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Kobo ebook|Nov 1 1999

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Format:HardcoverDimensions:598 pages, 8.5 × 5.43 × 1.46 inPublished:July 1, 1998Publisher:Oxford University Press

The following ISBNs are associated with this title:

ISBN - 10:0198264720

ISBN - 13:9780198264729

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Table of Contents

Part 1. The Balance of Power in the Corporate Credit Network1. Meta-bargaining over Property Rights2. Professional Innovation and the Recursivity of Law3. The Structure of Influence in Bankruptcy Law-makingPart 2. Reconstituting Property RightsIntroduction4. Weakening the Strong: Banks and Secured Lenders (with J Scott Parrott)5. Restraining the State and Utilities6. Enabling Managers7. Empowering the Weak: The Forgotten ClassPart 3. Reconstituing Jurisdictional RightsIntroduction8. Privatization and Nationalization of Bankruptcy Administration9. Jurisdictional Conflicts in the Market10. Jurisdictional Struggles within the StatePart 4. Conclusion11. Professions in the Institutionalization of Business Rescue

Editorial Reviews

`a rich and multifaceted study of corporate bankruptcy reform ... This comprehensive book offers something for almost anyone'Stefanie A Lindquist, The Law and Politics Book Review