Why the Theory of English and Welsh Bankruptcy Law is not yet written

Abstract

This article identifies various reasons why the theory of English and Welsh bankruptcy law has not yet been written. By examining the four main participants who are involved in bankruptcy law it is shown that various factors impact on their ability to meaningfully engage with the theoretical side of bankruptcy law. It is argued that this theoretical gap seriously damages the formulation of coherent bankruptcy policy. This in turn affects the substantive law and ultimately the stakeholders who are involved with bankruptcy as a whole. Following this audit several suggestions are then made to address this grave lacuna. These include incentivising scholarship on bankruptcy theory, properly funding bankruptcy theory scholarship, holding frequent bankruptcy theory conferences, and valuing practitioner input through CPD weighted theoretical activity.