You're obviously obsessed over trump. I had no idea that all of his companies were private. That being the case there was no fiduciary responsibility.
I had a cousin who declared personal bankruptcy because he had piled up so much credit card debt. He felt horrible about that how he was cheating the people that lent him money. Then some major chain (pizzas I think) declared bankruptcy, and I was sad, because I like their pizza. Then it turned out it was just a tactic to renegotiate, they're leases, and none of their stores closed.
Bankruptcy is part of business. Trump has said many times that the system can be gamed and that he knows because he made money gaming, it.
At least he's not getting rich off of trading stocks using inside information from bing, a lawmaker.