The Resource Creditor Protection in Private Companies : Anglo-German Perspectives for a European Legal Discourse

Creditor Protection in Private Companies : Anglo-German Perspectives for a European Legal Discourse

Label
Creditor Protection in Private Companies : Anglo-German Perspectives for a European Legal Discourse
Title
Creditor Protection in Private Companies
Title remainder
Anglo-German Perspectives for a European Legal Discourse
Creator
Subject
Genre
Language
eng
Summary
Investigates mechanisms in English and German law that protect creditors against the abuse of limited liability by directors and shareholders
Member of
Cataloging source
MiAaPQ
http://library.link/vocab/creatorName
Bachner, Thomas
Dewey number
346.077
LC call number
KJC2532 -- .B33 2009eb
Literary form
non fiction
Nature of contents
dictionaries
Series statement
International Corporate Law and Financial Market Regulation
http://library.link/vocab/subjectName
Private companies - Great Britain - Finance
Label
Creditor Protection in Private Companies : Anglo-German Perspectives for a European Legal Discourse
Link
https://ebookcentral.proquest.com/lib/oulaw/detail.action?docID=432015
Instantiates
Publication
Copyright
Carrier category
online resource
Carrier category code
  • cr
Carrier MARC source
rdacarrier
Color
multicolored
Content category
text
Content type code
  • txt
Content type MARC source
rdacontent
Contents
  • Cover -- Half-title -- Title -- Copyright -- Contents -- Preface -- Table Of Abbreviations -- Table Of Legislation -- European Community -- England -- Other Commonwealth jurisdictions -- Germany -- Austria -- Table Of Cases -- European Court of Justice -- England -- Other Commonwealth jurisdictions -- Australia -- Brunei -- New Zealand -- Scotland -- Reichsgericht, Bundesgerichtshof -- Bayerisches Oberstes Landesgericht (Bavarian Superior Court of Appeal) -- Oberlandesgerichte (regional courts of appeal) -- Austria -- Terminology -- 1 Introduction -- A. Creditor protection - a focal point of current developments -- 1. The Centros case: from Denmark to Delaware -- 2. The European regulation on insolvency proceedings -- 3. The interconnectedness of company law and insolvency law -- 4. Recent developments in a nutshell -- Germany -- United Kingdom -- B. Comparative legal methodology and the quest for a European legal discourse -- 1. 'Europäische Rechtswissenschaft' -- 2. A functional approach to creditor protection -- 3. Beyond functionalism -- 4. Understanding foreign law - from Auslandsrechtskunde to a European legal discourse -- C. The scope and aims of this book -- (i) Language and terminology -- (ii) Stereoscopic view -- (iii) Discourse analysis -- (iv) An evolutionary perspective -- 2 Avoidance of acts that are detrimental to creditors -- A. Introduction -- Initial terminological observations -- B. The relevance of insolvency and 'twilight periods' -- 1. Avoidance remedies outside insolvency proceedings -- 2. Additional grounds for avoidance in insolvency -- 3. Insolvency tests and twilight periods -- C. Detriment to creditors -- 1. The English approach -- 2. The German approach -- 3. Casting the net wide enough: 'legal act' versus 'transaction' -- 4. Direct detriment, unequal bargains and 'pure detriment' to creditors
  • 5. Indirect detriment -- D. Subjective elements in avoidance grounds -- 1. The debtor's bad faith as justification for avoidance -- Additional grounds for transaction avoidance in insolvency under English law -- English law and German law compared -- 2. The counterparty's awareness and alternative ways to protect commercial certainty -- Manifest detriment: significant undervalue and gratuitous disposition -- Manifest detriment: congruent versus incongruent cover -- A German take on English law -- From principle to pragmatism -- E. Connected persons -- 1. Germany -- 2. England -- F. Summary and outlook -- 3 Capital maintenance and unlawful distributions -- A. Introduction -- B. Capital maintenance and the boundaries of lawful distributions -- 1. Capital maintenance defined -- 2. Capital, assets and the nature of distributions -- Capital maintenance and insolvency -- Alternative ways to make distributions to shareholders - concealed distributions -- 3. Components of equity capital and restrictions on distributions -- Share capital and its reduction -- Distributions from the share premium account -- 4. Equity capital available for immediate distribution -- 5. The potential usefulness for creditors -- C. Remedies to reverse unlawful distributions -- 1. The statutory basis -- 2. Treating concealed distributions as unlawful distributions -- The German approach -- The English approach -- 3. Distributions by way of value transfers to related third-party recipients -- D. Excursus: Equity-substituting shareholder credit (eigenkapitalersetzender Gesellschafterkredit) -- E. Summary and outlook -- 4 Directors' liability for contraventions of capital maintenance rules -- A. Introduction -- B. Directors' duties and contraventions of capital maintenance rules -- 1. Comparative classifications and the need for conceptual clarity
  • 2. The German approach to directors' duties and capital maintenance -- 3. The English approach to directors' duties and capital maintenance -- Trust origins and the central role of fiduciary duties in English company law -- The fiduciary duty not to misapply company property and capital maintenance -- The court's discretion to relieve a director from liability -- C. Recipient liability based on a director's breach of fiduciary duty -- D. Summary and outlook -- 5 Directors' liability for conduct in the vicinity of insolvency -- A. Introduction -- B. Directors' duties towards creditors in Germany: a victory of delict over insolvency law -- 1. Directors' personal liability in delict - internal versus external liability -- 2. Delictual liability for Insolvenzverschleppung (delayed filing for insolvency) -- The relevant statutory provisions before and after the MoMiG -- Liability in delict and the distinction between 'old' and 'new' creditors -- 3. An interim summary and an explanation -- C. Wrongful trading and directors' duties in English law: variety for its own sake? -- 1. Problems and perspectives - switching between legal systems -- 2. The legal nature of wrongful trading -- Historic roots and contemporary classifications -- The claim against the director - is it an 'asset of the company'? -- The impact of the floating charge on the destination of recoveries -- The consequences for litigation funding in insolvency -- 3. Wrongful trading and directors' duty to exercise reasonable care, skill and diligence -- 4. Wrongful trading and directors' fiduciary duty to consider the interests of creditors -- The scope of the doctrine - transaction avoidance and wrongful trading revisited -- The subjective side of the duty -- D. Summary and outlook -- Conclusions -- Legal evolution as a pattern of change and continuity
  • Europeanisation of private law and EU legislation -- Towards a genuine European legal discourse -- Appendix: Statutory Provisions -- Companies Act 2006 -- Section 170. Scope and nature of general duties -- Section 171. Duty to act within powers -- Section 172. Duty to promote the success of the company -- Section 174. Duty to exercise reasonable care, skill and diligence -- Section 178. Civil consequences of breach of general duties -- Section 829. Meaning of 'distribution' -- Section 830. Distributions to be made only out of profits available for the purpose -- Section 836. Justification of distribution by reference to relevant accounts -- Section 847. Consequences of unlawful distribution -- Section 1157. Power of court to grant relief in certain cases -- Insolvency Act 1986 -- Section 122. Circumstances in which company may be wound up by the court -- Section 123. Definition of inability to pay debts -- Section 212. Summary remedy against delinquent directors, liquidators, etc. -- Section 213. Fraudulent trading -- Section 214. Wrongful trading -- Section 238. Transactions at an undervalue (England and Wales) -- Section 239. Preferences (England and Wales) -- Section 240. 'Relevant time' under ss. 238, 239 -- Section 245. Avoidance of certain floating charges -- Section 423. Transactions defrauding creditors -- German Act on Limited Liability Companies (GmbHG) -- 29. Ergebnisverwendung -- 29. Appropriation of profit -- 30. Kapitalerhaltung -- 30. Capital maintenance -- 31. Erstattung verbotener Ruckzahlungen -- 31. Restoration of forbidden repayments -- 32. Ruckzahlung von Gewinn -- 32. Repayment of dividends -- 43. Haftung der Geschaftsfuhrer -- 43. Liability of the directors -- 64. Insolvenzantragspflicht -- Haftung -- 64. Duty to file for insolvency -- liability
  • 64. Haftung fur Zahlungen nach Zahlungsunfa ̈higkeit oder Uberschuldung -- 64. Liability for payments after illiquidity or over-indebtedness -- German Insolvency Act (Insolvenzordnung, InsO) -- 15a. Antragspflicht bei juristischen Personen . . . -- 15a. Duty to file a request on behalf of legal persons . . . -- 16. Eroffnungsgrund -- 16. Opening ground -- 17. Zahlungsunfahigkeit -- 17. Illiquidity -- 19. Uberschuldung -- 19. Over-indebtedness -- 129. Grundsatz -- 129. Principle -- 130. Kongruente Deckung -- 130. Congruent cover -- 131. Inkongruente Deckung -- 131. Incongruent cover -- 132. Unmittelbar nachteilige Rechtshandlungen -- 132. Directly detrimental legal acts -- 133. Vorsatzliche Benachteiligung -- 133. Intentional prejudice -- 134. Unentgeltliche Leistung -- 134. Transfer without consideration -- Editorial Note On German Sources -- Bibliography -- Company Law Review Consultation Documents -- Index
Dimensions
unknown
Extent
1 online resource (353 pages)
Form of item
online
Isbn
9780511515477
Media category
computer
Media MARC source
rdamedia
Media type code
  • c
Note
Electronic reproduction. Ann Arbor, Michigan : ProQuest Ebook Central, 2019. Available via World Wide Web. Access may be limited to ProQuest Ebook Central affiliated libraries.
Sound
unknown sound
Specific material designation
remote
System control number
  • (MiAaPQ)EBC432015
  • (Au-PeEL)EBL432015
  • (CaPaEBR)ebr10297138
  • (OCoLC)609833038
Label
Creditor Protection in Private Companies : Anglo-German Perspectives for a European Legal Discourse
Link
https://ebookcentral.proquest.com/lib/oulaw/detail.action?docID=432015
Publication
Copyright
Carrier category
online resource
Carrier category code
  • cr
Carrier MARC source
rdacarrier
Color
multicolored
Content category
text
Content type code
  • txt
Content type MARC source
rdacontent
Contents
  • Cover -- Half-title -- Title -- Copyright -- Contents -- Preface -- Table Of Abbreviations -- Table Of Legislation -- European Community -- England -- Other Commonwealth jurisdictions -- Germany -- Austria -- Table Of Cases -- European Court of Justice -- England -- Other Commonwealth jurisdictions -- Australia -- Brunei -- New Zealand -- Scotland -- Reichsgericht, Bundesgerichtshof -- Bayerisches Oberstes Landesgericht (Bavarian Superior Court of Appeal) -- Oberlandesgerichte (regional courts of appeal) -- Austria -- Terminology -- 1 Introduction -- A. Creditor protection - a focal point of current developments -- 1. The Centros case: from Denmark to Delaware -- 2. The European regulation on insolvency proceedings -- 3. The interconnectedness of company law and insolvency law -- 4. Recent developments in a nutshell -- Germany -- United Kingdom -- B. Comparative legal methodology and the quest for a European legal discourse -- 1. 'Europäische Rechtswissenschaft' -- 2. A functional approach to creditor protection -- 3. Beyond functionalism -- 4. Understanding foreign law - from Auslandsrechtskunde to a European legal discourse -- C. The scope and aims of this book -- (i) Language and terminology -- (ii) Stereoscopic view -- (iii) Discourse analysis -- (iv) An evolutionary perspective -- 2 Avoidance of acts that are detrimental to creditors -- A. Introduction -- Initial terminological observations -- B. The relevance of insolvency and 'twilight periods' -- 1. Avoidance remedies outside insolvency proceedings -- 2. Additional grounds for avoidance in insolvency -- 3. Insolvency tests and twilight periods -- C. Detriment to creditors -- 1. The English approach -- 2. The German approach -- 3. Casting the net wide enough: 'legal act' versus 'transaction' -- 4. Direct detriment, unequal bargains and 'pure detriment' to creditors
  • 5. Indirect detriment -- D. Subjective elements in avoidance grounds -- 1. The debtor's bad faith as justification for avoidance -- Additional grounds for transaction avoidance in insolvency under English law -- English law and German law compared -- 2. The counterparty's awareness and alternative ways to protect commercial certainty -- Manifest detriment: significant undervalue and gratuitous disposition -- Manifest detriment: congruent versus incongruent cover -- A German take on English law -- From principle to pragmatism -- E. Connected persons -- 1. Germany -- 2. England -- F. Summary and outlook -- 3 Capital maintenance and unlawful distributions -- A. Introduction -- B. Capital maintenance and the boundaries of lawful distributions -- 1. Capital maintenance defined -- 2. Capital, assets and the nature of distributions -- Capital maintenance and insolvency -- Alternative ways to make distributions to shareholders - concealed distributions -- 3. Components of equity capital and restrictions on distributions -- Share capital and its reduction -- Distributions from the share premium account -- 4. Equity capital available for immediate distribution -- 5. The potential usefulness for creditors -- C. Remedies to reverse unlawful distributions -- 1. The statutory basis -- 2. Treating concealed distributions as unlawful distributions -- The German approach -- The English approach -- 3. Distributions by way of value transfers to related third-party recipients -- D. Excursus: Equity-substituting shareholder credit (eigenkapitalersetzender Gesellschafterkredit) -- E. Summary and outlook -- 4 Directors' liability for contraventions of capital maintenance rules -- A. Introduction -- B. Directors' duties and contraventions of capital maintenance rules -- 1. Comparative classifications and the need for conceptual clarity
  • 2. The German approach to directors' duties and capital maintenance -- 3. The English approach to directors' duties and capital maintenance -- Trust origins and the central role of fiduciary duties in English company law -- The fiduciary duty not to misapply company property and capital maintenance -- The court's discretion to relieve a director from liability -- C. Recipient liability based on a director's breach of fiduciary duty -- D. Summary and outlook -- 5 Directors' liability for conduct in the vicinity of insolvency -- A. Introduction -- B. Directors' duties towards creditors in Germany: a victory of delict over insolvency law -- 1. Directors' personal liability in delict - internal versus external liability -- 2. Delictual liability for Insolvenzverschleppung (delayed filing for insolvency) -- The relevant statutory provisions before and after the MoMiG -- Liability in delict and the distinction between 'old' and 'new' creditors -- 3. An interim summary and an explanation -- C. Wrongful trading and directors' duties in English law: variety for its own sake? -- 1. Problems and perspectives - switching between legal systems -- 2. The legal nature of wrongful trading -- Historic roots and contemporary classifications -- The claim against the director - is it an 'asset of the company'? -- The impact of the floating charge on the destination of recoveries -- The consequences for litigation funding in insolvency -- 3. Wrongful trading and directors' duty to exercise reasonable care, skill and diligence -- 4. Wrongful trading and directors' fiduciary duty to consider the interests of creditors -- The scope of the doctrine - transaction avoidance and wrongful trading revisited -- The subjective side of the duty -- D. Summary and outlook -- Conclusions -- Legal evolution as a pattern of change and continuity
  • Europeanisation of private law and EU legislation -- Towards a genuine European legal discourse -- Appendix: Statutory Provisions -- Companies Act 2006 -- Section 170. Scope and nature of general duties -- Section 171. Duty to act within powers -- Section 172. Duty to promote the success of the company -- Section 174. Duty to exercise reasonable care, skill and diligence -- Section 178. Civil consequences of breach of general duties -- Section 829. Meaning of 'distribution' -- Section 830. Distributions to be made only out of profits available for the purpose -- Section 836. Justification of distribution by reference to relevant accounts -- Section 847. Consequences of unlawful distribution -- Section 1157. Power of court to grant relief in certain cases -- Insolvency Act 1986 -- Section 122. Circumstances in which company may be wound up by the court -- Section 123. Definition of inability to pay debts -- Section 212. Summary remedy against delinquent directors, liquidators, etc. -- Section 213. Fraudulent trading -- Section 214. Wrongful trading -- Section 238. Transactions at an undervalue (England and Wales) -- Section 239. Preferences (England and Wales) -- Section 240. 'Relevant time' under ss. 238, 239 -- Section 245. Avoidance of certain floating charges -- Section 423. Transactions defrauding creditors -- German Act on Limited Liability Companies (GmbHG) -- 29. Ergebnisverwendung -- 29. Appropriation of profit -- 30. Kapitalerhaltung -- 30. Capital maintenance -- 31. Erstattung verbotener Ruckzahlungen -- 31. Restoration of forbidden repayments -- 32. Ruckzahlung von Gewinn -- 32. Repayment of dividends -- 43. Haftung der Geschaftsfuhrer -- 43. Liability of the directors -- 64. Insolvenzantragspflicht -- Haftung -- 64. Duty to file for insolvency -- liability
  • 64. Haftung fur Zahlungen nach Zahlungsunfa ̈higkeit oder Uberschuldung -- 64. Liability for payments after illiquidity or over-indebtedness -- German Insolvency Act (Insolvenzordnung, InsO) -- 15a. Antragspflicht bei juristischen Personen . . . -- 15a. Duty to file a request on behalf of legal persons . . . -- 16. Eroffnungsgrund -- 16. Opening ground -- 17. Zahlungsunfahigkeit -- 17. Illiquidity -- 19. Uberschuldung -- 19. Over-indebtedness -- 129. Grundsatz -- 129. Principle -- 130. Kongruente Deckung -- 130. Congruent cover -- 131. Inkongruente Deckung -- 131. Incongruent cover -- 132. Unmittelbar nachteilige Rechtshandlungen -- 132. Directly detrimental legal acts -- 133. Vorsatzliche Benachteiligung -- 133. Intentional prejudice -- 134. Unentgeltliche Leistung -- 134. Transfer without consideration -- Editorial Note On German Sources -- Bibliography -- Company Law Review Consultation Documents -- Index
Dimensions
unknown
Extent
1 online resource (353 pages)
Form of item
online
Isbn
9780511515477
Media category
computer
Media MARC source
rdamedia
Media type code
  • c
Note
Electronic reproduction. Ann Arbor, Michigan : ProQuest Ebook Central, 2019. Available via World Wide Web. Access may be limited to ProQuest Ebook Central affiliated libraries.
Sound
unknown sound
Specific material designation
remote
System control number
  • (MiAaPQ)EBC432015
  • (Au-PeEL)EBL432015
  • (CaPaEBR)ebr10297138
  • (OCoLC)609833038

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