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After The Fall: The Dynamics Of Social Death And Rebirth In The Wake Of The Höchstetter Bankruptcy, 1529 To 1586

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Chapter Summary

Some twenty years earlier, in 1529, the Höchstetter firm had suffered bankruptcy under the leadership of Ambrosius's father, Ambrosius the Elder. Discrimination, persecution, and expulsion all seem to apply to the Höchstetter after their bankruptcy. Their firm never recovered from the failure of 1529. The family's fortunes improved steadily. Under Ulrich's son, also named Ulrich, the family advanced politically and financially. The Höchstetter invested chiefly in copper and silver mining and refining. They had capital holdings in all the major mining centers of Europe. When in 1529 the creditors learned that the Höchstetter had secretly removed capital from the city by hiding it in bales of cloth marked with the signs of foreign firms. A revised Bankruptcy Ordinance of 1564 retained the traditional distinction between honorable and dishonorable bankrupts.

Keywords: Höchstetter Bankruptcy; Ulrich



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