Bankruptcy is the busiest federal court in the U.S. Last year, more than 200 companies with at least $50 million in liabilities filed for bankruptcy, according to Bloomberg. That’s the second most since just after the Great Recession in 2009.
A new book argues that bankruptcy has become a “Swiss Army knife” or “escape hatch” for big companies to get out of all kinds of trouble — even those beyond financial distress.
Melissa Jacoby is the author of “Unjust Debts: How Our Bankruptcy System Makes America More Unequal.” Jacoby, a law professor at the University of North Carolina at Chapel Hill, discussed the divergence between corporate and individual bankruptcy with “Marketplace Morning…
