Case | HBS Case Collection | January 2005

Managing Failure: American Bankruptcy Law at a Crossroads

by David A. Moss, Mary Oey and Jonathan Lackow


Introduces the core principles and challenges of bankruptcy law (both individual and corporate) against the backdrop of the early 1970s, when the U.S. bankruptcy system appeared to be failing. With personal bankruptcy filings at record levels and successful corporate reorganizations relatively rare, policymakers had to decide whether the time had come to overhaul the nation's bankruptcy law and, if so, how to structure the new system.

Keywords: Change; Insolvency and Bankruptcy; Policy; Government Legislation; United States;


Moss, David A., Mary Oey, and Jonathan Lackow. "Managing Failure: American Bankruptcy Law at a Crossroads." Harvard Business School Case 705-024, January 2005.