The bankruptcy process within the U.S. can happen for various reasons. Personally, I feel as if it dramatically Impacts those individuals and firms that have too much outstanding debt. Within this scenario, these individuals and firms can take advantage of planning out future finances and repaying owed debt. However, an ethical issue arises as bankruptcy has become a disputable topic. For example, in 2015 notable rapper 50 Cent filed for bankruptcy protection after a court ordered him to pay $5 million in a lawsuit. Bankruptcy protection should be held ethically and reasonably within these circumstances alone. One company that utilized bankruptcy in 20011 as a business opportunity was American Airlines, which returned its dividends as early as 2014.

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The statement suggests that bankruptcy can have a significant impact on individuals and firms with excessive debt and that it can provide an opportuni... View the full answer