Greed and hubris have no place in bankruptcy

Description

Abstract: Lenders might overlook minor transgressions in good times. But when contemplating bankruptcy, lavish spending and blatant disregard for corporate/personal boundaries are slaps in the faces of employees, creditors and lenders. Self-serving spending habits not only set a bad example and lower morale, but they also increase the likelihood of insolvency. And they leave less money for stakeholders to divvy up in liquidation. This article identifies red flags and recourse methods.