Question

Identify, and summarize a specific Chapter 7 bankruptcy case or issue.

Incorporate the legal terminology from your textbook where appropriate, in both your original post and in your responses to your classmates. Use academic or legitimate news sources, such as The New York Times, the Los Angeles Times, the Washington Post, CNN, MSNBC, Fox News, etc. Please include the link or links used for your research in your post.

Answer 1

Mr. M is the director of the organization ABC. Being the director of the organization he holds some rights as well as some duties towards the share holders. The director denied the request of the share holder to get the information about the financial statement of the organization or his reference. This activity can be considered as an unethical activity which breached his duty of loyalty, through not providing the information required. This practice of the director is also legally liable. The share holders are having the right to gather financial information about the organization and denying this can be liable.

When considering these issues, the unethical business practices can impact the global business practices negatively. The unethical or the immoral practices in the organizations like the mentioned example can ruin the interest of the share holders to continue with the organization and the trust worthiness is ruined which can impact the business practices negatively.