What is bankruptcy?
- Written by Jason Harris, Professor of Corporate Law, University of Sydney
ShutterstockCapitalism without insolvency is like Christianity without Hell.
Those were the words of former Apollo 8 commander Frank Borman, speaking as chairman of Eastern Airlines in the United States in the early 1980s.
That company later entered Chapter 11 bankruptcy itself, in an attempt to deal with a staggering amount of debt.
We all know...
