Book Review:
Gregory E. Maggs, Bankruptcy as a Business Tool, 71 TEXAS L. REV. 681 (1993) (reviewing Kevin J. Delaney’s Strategic Bankruptcy: How Corporations and Creditors Use Chapter 11 to Their Advantage (1992)).
 

Abstract:
In “Bankruptcy as a Business Tool,” Professor Maggs critiques the theory that the sharp increase in bankruptcy filings is explained by the phenomenon that the business world’s view of bankruptcy has evolved from a stigmatizing state of failure to a useful business practice. Though Maggs praises the book as a useful and timely study of bankruptcy and its history, Maggs concludes that it relies too heavily on anecdotal evidence rather than hard research. Maggs, though conceding that Delaney’s theory is intriguing, argues that his study is incomplete and will require empirical support to ultimately be proven.