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Ethics, bankruptcy and greed: the unintended consequences for landlords of the 2005 bankruptcy amendments

Author

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  • Harlan D. Platt
  • Christopher R. Mirick
  • Marjorie B. Platt

Abstract

The 2005 amendments to the United States Bankruptcy Code dramatically shifted the relative power of commercial landlords vis-Ã -vis their tenants. Landlords lobbied Congress for these amendments to capture the option value of unexpired commercial leases. The result has been a decrease in the number of successful retail reorganisations. Viewed purely from a profit making perspective, the landlords' actions are hard to criticise. However, ethical theories, such as Integrated Social Contracts Theory (ISCT) and Corporate Social Responsibility (CSR), envision a broader set of responsibilities in a business context, to which the landlords did not adhere in their quest for higher profits.

Suggested Citation

  • Harlan D. Platt & Christopher R. Mirick & Marjorie B. Platt, 2011. "Ethics, bankruptcy and greed: the unintended consequences for landlords of the 2005 bankruptcy amendments," International Journal of Business Governance and Ethics, Inderscience Enterprises Ltd, vol. 6(3), pages 249-263.
    • Handle: RePEc:ids:ijbget:v:6:y:2011:i:3:p:249-263
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    Citations

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    Cited by:

    1. Gebhard Kirchgässner, 2014. "On Self-Interest and Greed," CESifo Working Paper Series 4883, CESifo.
    2. James, Sharon D., 2016. "Strategic bankruptcy: A stakeholder management perspective," Journal of Business Research, Elsevier, vol. 69(2), pages 492-499.

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