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.
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Book Description
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Book Description
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. This book investigates the mechanisms found in English and German law that are designed to protect creditors from such risks.
About the Author
Thomas Bachner is Assistant Professor at the Vienna University of Economics and Business Administration.
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insolvency code, second directive, legal capital, insolvency legislation, Société Générale, duties and capital maintenance, factual insolvency, cash flow insolvency, concealed distributions, second civil senate, avoidance remedies, capital maintenance regime, capital maintenance rules, special avoidance, transaction avoidance, legal capital rules, wrongful trading, unlawful distributions, avoidance law, gratuitous dispositions, direct detriment, formal insolvency proceedings, shareholder credit, corporate insolvency law, internal liability Key Phrases - Capitalized Phrases (CAPs): (learn more)
Companies Act, Insolvency Act, Company Law, Court of Appeal, John Armour, House of Lords, Marcus Lutter, Member States, Karsten Schmidt, West Mercia, Rebecca Parry, United States, Andrew Keay, Final Report, Basil Markesinis, Lord Millett, Thomas Bachner, Sarah Worthington, Bankruptcy Act, Cork Report, Insolvency Regulation, Clydebank Football Club Ltd, Paul Davies, Under English, Heribert Hirte Browse Sample Pages:
Front Cover | Table of Contents | First Pages | Index | Surprise Me!
insolvency code, second directive, legal capital, insolvency legislation, Société Générale, duties and capital maintenance, factual insolvency, cash flow insolvency, concealed distributions, second civil senate, avoidance remedies, capital maintenance regime, capital maintenance rules, special avoidance, transaction avoidance, legal capital rules, wrongful trading, unlawful distributions, avoidance law, gratuitous dispositions, direct detriment, formal insolvency proceedings, shareholder credit, corporate insolvency law, internal liability Key Phrases - Capitalized Phrases (CAPs): (learn more)
Companies Act, Insolvency Act, Company Law, Court of Appeal, John Armour, House of Lords, Marcus Lutter, Member States, Karsten Schmidt, West Mercia, Rebecca Parry, United States, Andrew Keay, Final Report, Basil Markesinis, Lord Millett, Thomas Bachner, Sarah Worthington, Bankruptcy Act, Cork Report, Insolvency Regulation, Clydebank Football Club Ltd, Paul Davies, Under English, Heribert Hirte Browse Sample Pages:
Front Cover | Table of Contents | First Pages | Index | Surprise Me!
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