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Ethics of Bankruptcy Creditor

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  • First Online:
Handbook on Ethics in Finance

Part of the book series: International Handbooks in Business Ethics ((IHBE))

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Abstract

The quality of insolvency regulatory frameworks is a determinant of a country’s economic competitiveness, achieving an efficient restructuring framework is a constant concern of those responsible for economic matters. Despite this, there are no statistical data to help elucidate the phenomenon, and we are unable to accurately determine the degree of efficiency of bankruptcy proceedings. Twenty-nine changes in bankruptcy legislation have occurred in Spain since 2003. However, the judicial process is still seen as inefficient and its use is marginal. As we will analyze throughout the chapter, the number of insolvency proceedings is significantly less in Spain than in neighboring countries. Analyzing the efficiency of our bankruptcy processes and how to improve the system is an urgent need. The companies that declare themselves insolvent in the judicial framework come late, a circumstance that is observed due to the patrimonial situation in which they go to the process, with negative own funds. We must approach the problem with ingenuity and new perspectives, analyzing the ethical repercussions of this delay and proposing solutions not from legal duty, but from ethical duty.

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Authors and Affiliations

  1. Universidad del Pais Vasco, Leioa, Spain

    Unai Olabarrieta, Andrés Araujo & Leire San-Jose

Authors
  1. Unai Olabarrieta
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  2. Andrés Araujo
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  3. Leire San-Jose
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Corresponding author

Correspondence to Unai Olabarrieta .

Editor information

Editors and Affiliations

  1. ECRI Ethics in Finance Research Group, University of the Basque Country, Bilbao, Spain

    Leire San-Jose

  2. ECRI Ethics in Finance & Social Value, Deusto Business School, Bilbo, Vizcaya, Spain

    José Luis Retolaza

  3. University of Antwerp, Antwerpen, Belgium

    Luc van Liedekerke

Section Editor information

  1. Deusto Business School, Bilbao, Spain

    Jose Luis Retolaza

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Olabarrieta, U., Araujo, A., San-Jose, L. (2020). Ethics of Bankruptcy Creditor. In: San-Jose, L., Retolaza, J.L., van Liedekerke, L. (eds) Handbook on Ethics in Finance. International Handbooks in Business Ethics. Springer, Cham. https://doi.org/10.1007/978-3-030-00001-1_16-1

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  • DOI: https://doi.org/10.1007/978-3-030-00001-1_16-1

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  • Publisher Name: Springer, Cham

  • Print ISBN: 978-3-030-00001-1

  • Online ISBN: 978-3-030-00001-1

  • eBook Packages: Springer Reference Religion and PhilosophyReference Module Humanities and Social SciencesReference Module Humanities

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