Written by leading experts in the fields of business, finance, law, and economics, this edited volume brings together the latest thoughts and developments on turnaround management and business rescue from an academic, judiciary, and turnaround/insolvency practitioner perspective. Turnaround Management and Bankruptcy presents different viewpoints on turnarounds and business rescue in Europe. The book presents a state-of-the-art review of failure research in finance such as on bankruptcy prediction, causes of decline, or distressed asset valuation. It also offers the latest insights from turnaround management research as well as a contemporary look into law debates on insolvency legislation reform, new theoretical perspectives on turnarounds in knowledge-intensive industries and in SMEs. Finally, the book provides two cases and a work-out game, extending turnaround management and business rescue research into the classroom and real-world practice.