I do grasp the notion that bankruptcy typically means that somewhere somebody does not get paid.
Of course that just means that the system is something which is one that mirrors life, inherently unfair and in the smaller sense unpredictable.
Bankruptcy options, at least in America, are available to others than Trump, and many have taken advantage of the laws associated.
Focusing on Trump's maneuvers in finance minutiae is a waste of time. If not him, then some other.
In the larger sense, unfettered Economics as is life, is rather predictable.
Some will rise to the top.
From what I’ve heard and read, Trump’s Bankruptcies were Chapter 11 Reorganization, not Chapter 13 Liquidation.
In other words, it kept the Business going and the Employees continued to get paid. It wasn’t the Michael Douglas character in Wall Street selling off the Assets for personal gain.
I’m sure it’s much more complicated than that, but the Chapter 11 Bankruptcies forced Banks and other Creditors to Renegotiate the Business Debts.
Nothing Unlawful about that, it’s the System that was in place long before Trump came on the scene. His Competitors take advantage of the same Laws if they can, and they do.
Trump is not alone in using the Bankruptcy Laws to his Company’s advantage. There are always winners and losers, and he abided by the Law, which is the only issue.
Don’t like the current Bankruptcy Laws, get Obama’s new BFF Speaker Ryan to change them. I’m sure he would get right to it at Obama’s bequest.
Just my $.02, your Mileage may vary.