Creditor Protection in Private Companies

Anglo-German Perspectives for a European Legal Discourse
Erscheinungsjahr 2009
ISBN: 978-0-521-89538-5
Verlag: Cambridge University Press

Buch, Englisch, 352 Seiten, Format (B × H): 156 mm x 236 mm, Gewicht: 685 g

Reihe: International Corporate Law and Financial Market Regulation

Limited liability companies form the backbone of our modern economy. However, there is a persistent danger of moral hazard on the part of directors and shareholders, particularly in closely held or private companies. Like all developed legal systems, English and German law both provide mechanisms designed to protect creditors from such risks. This book investigates some of these mechanisms, including the avoidance of pre-insolvency acts, capital maintenance and creditor-regarding duties of directors. By analysing the different conceptual and doctrinal perspectives inherent in the English and German systems, this book seeks to advance a discourse between audiences with different legal backgrounds. It will be an invaluable guide for those wishing to understand how the protective mechanisms operate and interact with each other, and how they do so in quite different ways in the two jurisdictions.

Autoren/Hrsg.

Bachner, Thomas

Fachgebiete

• Rechtswissenschaften Recht, Rechtswissenschaft Allgemein Rechtsvergleichung
• Rechtswissenschaften Wirtschaftsrecht Handels- und Gesellschaftsrecht GmbH und GmbH-Geschäftsführer, Limited, UG
• Rechtswissenschaften Wirtschaftsrecht Handels- und Gesellschaftsrecht AG und Aktienrecht, KGaA, SE

Inhaltsverzeichnis

1. Introduction; 2. Avoidance of acts that are detrimental to creditors; 3. Capital maintenance and unlawful distributions; 4. Directors' liability for contraventions of capital maintenance rules; 5. Directors' liability for conduct in the vicinity of insolvency; Conclusions.

Über Autor(innen)

Bachner, Thomas
Thomas Bachner is Assistant Professor at the Vienna University of Economics and Business Administration.