According to critics, what are some problems with the bankruptcysystem?

When the original terms of a debt agreement are changed because of financial difficulties experienced by the debtor (borrower), the new arrangement is referred to as a troubled debt restructuring. Such a restructuring can take a variety of forms. For accounting purposes, these possibilities are categorized. What are the accounting classifications of troubled debt restructurings?

Identify one specific type of accounting fraud. What damage does the perpetration cause? What could be done to prevent it?