Harvard Law School Bankruptcy Roundtable

The Bankruptcy Roundtable

Promoting the dissemination of academic and practitioner views of current bankruptcy issues

Bankruptcy Law Penalties and Board Independence
by Editor
September 29, 2026
By Aras Canipek (Sabanci Business School & Leibniz Institute for Financial Research SAFE) “for debt to be an effective source of discipline it must be backed by an appropriate bankruptcy (or insolvency) procedure, i.e. there must be an appropriate ‘penalty’ in the event of default. A bankruptcy mechanism that is ‘soft’ on management – e.g. one that, like Chapter 11,… Read more: Bankruptcy Law Penalties and Board Independence

Harvard Law School Bankruptcy Roundtable
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Cambridge, MA 02138