Broken Companies or Broken System? Charting the English Insolvency Valuation Framework in Search for Fairness

This paper adopts a normative approach to investigate measurement of value in English insolvency and bankruptcy cases. The valuation techniques are assessed against a revised communitarian, fairness-oriented framework based on a modified version of Rawls, Finch and Radin’s social justice concepts of fairness. This paper explains the need for a revised communitarian, fairness-oriented framework to measure value in insolvency. Finally, it investigates if regulatory reforms are needed to improve fair measurement of value in insolvency and bankruptcy procedures.