A bankruptcy filing always means there's not enough money to go around, but the process ensures both debtors and creditors are protected.
While critics accuse companies facing lots of lawsuits of using bankruptcy as a sort of 'get of jail free card,' the reality of the legal procedure is more complicated.
Once-leading firms such as Chrysler, Citigroup, Dunlop and Nokia have one thing in common: they failed. While each case seems unique, research points to key processes that lead to corporate failures.
OxyContin maker Purdue has reportedly been mulling a bankruptcy filling, just as the first of around 2,000 lawsuits against it prepares to go to trial.
These reorganizations may provide roadmaps for other nonprofits to follow if they face abuse allegations in the #MeToo era.
Research on bankrupts illustrates the contrasting financial fortunes of older Australians.
A lucky South Carolinian came forward to claim the $1.5 billion Mega Millions jackpot. Academic research has some suggestions about what the winner should do next.
The lottery’s jackpot has swelled to that eye-watering sum, but research suggests hopeful ticket holders should be careful what they wish for.
The tennis star claims his role as a sports attaché for the Central African Republic means he doesn't have to repay his debts. Is he right?
Sears Canada's bankruptcy should alert employees and regulators alike to rethink defined-benefit pensions.
There is no good case for bailing out South African Airways, it's simply a matter of avoiding a potentially catastrophic debt default.
What the lessons of failed high street brands mean as M&S finally makes a big move.
At society's margins, people without access to the mainstream job economy are able to carve out lives rich in other resources and community.
Less than four years after Detroit filed for bankruptcy, boosters say a revival is underway in the Motor City. But two scholars say new growth has not spread yet to neighborhoods that need it.
The Rod Culleton saga still has some way to go before its conclusion. But it is almost certain that he will not be able to continue as a senator.
Australia needs to speed up the spread of ideas across the economy in its quest for higher living standards, Martin Parkinson has said.
A study of the three casinos Donald Trump owned in Atlantic City shows they performed far worse than their rivals, losing more jobs and revenue.
New research shows people are needlessly declaring bankruptcy because they don't know about the help available to manage their debts.
About 10 million borrowers in the government's main student loan program are struggling to make their payments, yet unlike other types of debt, it's next to impossible to have it forgiven.
The majority of bankruptcies occur due to unemployment and excessive credit, rather than business failure.