Download or read book Civil Liability of Company Directors and Creditor Protection in the Vicinity of Insolvency written by Tetiana Bersheda Vucurovic and published by . This book was released on 2007 with total page 367 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Directors Duties in the Context of Insolvency written by Julia Honds and published by GRIN Verlag. This book was released on 2007-12 with total page 61 pages. Available in PDF, EPUB and Kindle. Book excerpt: Essay from the year 2006 in the subject Law - Comparative Legal Systems, Comparative Law, grade: A, Victoria University of Wellington, course: LLM Research Paper, Master Abschlussarbeit, 59 entries in the bibliography, language: English, abstract: This essay deals with directors' duties, focusing on the duties that specially arise in the context of a company becoming insolvent. The relevant duties are those under sections 131, 135 and 136 of the Companies Act 1993. The drafting of these insolvent trading provisions in New Zealand has been criticised in the legal literature. This research paper considers not only this criticism but also deals with the more general debate about the value of insolvent trading provisions in general. Although the current drafting of the relevant provisions in New Zealand is not without minor flaws, the need for creditor protection requires the maintenance of insolvent trading provisions in general. Besides that, this essay looks at the remedies for breaches of directors' duties. The most important provision in this context is s 301 Companies Act 1993. Pursuant to this provision both the liquidator and individual creditors can enforce directors' civil liability. However, the possibilities of individual creditors to obtain payment directly to themselves are restricted. The final part of this essay considers the question whether a separate duty directly owed to individual creditors should be introduced. Although such a duty seems to have some benefits, it would not be commensurate with leading principles and ideas of Insolvency Law and should therefore not be introduced. It is the concern of this research paper to point out the many issues that arise in context of directors' duties and insolvency law and to show that it is important to strike an appropriate balance between the intended creditor protection and the entrepreneurial freedom of company directors.
Download or read book Company Directors Liability and Creditor Protection written by Andrew Keay and published by Taylor & Francis. This book was released on 2023-06-23 with total page 398 pages. Available in PDF, EPUB and Kindle. Book excerpt: The book provides an analytical exposition of the law concerning directors’ liability for the losses sustained by their companies’ creditors, when the directors’ companies are in financial distress or become insolvent. It is a detailed one-stop resource for obtaining a good understanding of the law which has developed from legislation and case law. In particular, there is a detailed consideration of what needs to be proved, what defences there are, and what might be the issues of concern for all parties. A doctrinal method is adopted and there is extensive analysis of the relevant legislation and case law. Rather than merely referring to cases to support propositions, the discussion considers many of the cases in context and in depth and their relevance to the aim of the book. The book also endeavours to provide views, in a practical way, on aspects of the law and it identifies problems and how they may be addressed. Of interest to legal practitioners and insolvency practitioners alike, in addition the book will be useful to directors, government officials and academics.
Download or read book Company Directors Responsibilities to Creditors written by Andrew Keay and published by Routledge. This book was released on 2007-03-12 with total page 726 pages. Available in PDF, EPUB and Kindle. Book excerpt: This timely work is the first to comprehensively examine directors' responsibilities to creditors in times of financial strife, as well as addressing when these responsibilities arise, and what directors should have to do to ensure that they comply with their obligations. Keay explores the relevant issues from doctrinal, normative and comparative perspectives and addresses the question as to when directors are liable for wrongful trading, fraudulent trading or breach of their duties to creditors and whether directors should be held responsible for the before mentioned. Besides the relevant UK legislation and case law, legislation and case law from Australia, Canada, Ireland and the United States are examined and compared and reforms which take into account the aims and rationale of the relevant legislation as well as creditors' interests are proposed and assessed. Importantly, new approaches for courts which would make the nature of the responsibility and its timing more precise are suggested. Company directors have certain responsibilities to creditors of their companies. In particular, they should avoid fraudulent and wrongful trading and consider, as part of their duties, the interests of creditors when their companies might be, or are, in financial difficulty. The work is precipitated by the lack of coherence in the consideration of wrongful trading and the recent delivery of important cases on fraudulent trading. Also, this timely work is the first to comprehensively examine directors' responsibilities to creditors in times of financial strife, as well as addressing when these responsibilities arise, and what directors should have to do to ensure that they comply with their obligations. Keay explores the relevant issues from doctrinal, normative and comparative perspectives and seeks to address the question as to when directors are liable for wrongful trading, fraudulent trading or breach of their duties to creditors and whether directors should be held responsible for wrongful trading and failing to consider the interests of creditors. Besides the relevant UK legislation and case law, legislation and case law from Australia, Canada, Ireland and the United States are examined and compared, and reforms which take into account the aims and rationale of the relevant legislation as well as creditors' interests are proposed and assessed. Importantly, new approaches for courts which would make the nature of the responsibility and its timing more precise are suggested.
Download or read book Personal Liability and Disqualification of Company Directors written by Stephen Griffin and published by Wiley. This book was released on 1999-07-27 with total page 450 pages. Available in PDF, EPUB and Kindle. Book excerpt: Although the law recognizes and vigorously defends the separate legal identity of the corporate entity, legislative provisions have been enacted to protect the interests of corporate creditors whereby in circumstances where the company's affairs have been mismanaged to the extent that the company has become insolvent, the directors themselves may: (a) be subject to liability to contribute to, or in some instances, completely discharge the debts of the company, and (b) for the protection of the public interest be subject to disqualification proceedings under the Company Director Disqualification Act 1986, which, if successful, will prevent them from participation in the future management of a company.
Download or read book Director Liability in Agricultural Cooperatives written by Douglas Fee and published by . This book was released on 1984 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book European Insolvency Law written by Gerard McCormack and published by Edward Elgar Publishing. This book was released on 2017-01-27 with total page 512 pages. Available in PDF, EPUB and Kindle. Book excerpt: Critically analysing the substantive law of insolvency in the EU countries as a whole, this book carries out horizontal cross-cutting analysis of the data gathered from a study of national insolvency laws. It selects particular areas for detailed discussion and considers the pros and cons of particular legislative solutions.
Download or read book Aktiengesetz written by Germany and published by . This book was released on 1996 with total page 332 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book International Handbook on Shareholders Agreements written by Sebastian Mock and published by Walter de Gruyter GmbH & Co KG. This book was released on 2018-05-07 with total page 691 pages. Available in PDF, EPUB and Kindle. Book excerpt: Shareholders ́ Agreements have a growing influence on the general understanding of corporate law since they bind not only the shareholders but also affect the constitution of the corporation and can have a severe impact on capital markets. Therefore, Shareholders ́ Agreements are more and more subject to regulation in corporate, capital market and also insolvency law on the national, the European and the international level. This handbook provides a general examination of conceptual questions of Shareholders ́ Agreements and provides an analysis of the regulation of Shareholders ́ Agreements in European and international law and of the national law of more than 20 jurisdictions. Readers will get a general understanding of the theoretical and practical problems involved with Shareholders ́ Agreements and detailed information on the regulation of Shareholders ́ Agreements in several jurisdictions and the applicable law in the case of transnational corporations and cross-border transactions.
Download or read book Orderly and Effective Insolvency Procedures written by International Monetary Fund and published by International Monetary Fund. This book was released on 1999-08-02 with total page 108 pages. Available in PDF, EPUB and Kindle. Book excerpt: Written by IMF's Legal Department, this book outlines the key issues involved in designing and implementing orderly and effective insolvency procedures, which play a critical role in fostering growth and competitiveness and may also assist in the prevention and resolution of financial crises. The book draws on lessons learned from firsthand experience by some of the IMF's 182 member countries. It includes an analysis of the major policy choices that countries need to address when designing an insolvency system, a discussion of the advantages and disadvantages of these choices, and a number of specific recommendations.
Download or read book The Anatomy of Corporate Law written by Reinier Kraakman and published by Oxford University Press. This book was released on 2017-01-19 with total page 352 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is the long-awaited third edition of this highly regarded comparative overview of corporate law. This edition has been comprehensively revised and updated to reflect the profound changes in corporate law and governance practices that have taken place since the previous edition. These include numerous regulatory changes following the financial crisis of 2007-09 and the changing landscape of governance, especially in the US, with the ever more central role of institutional investors as (active) owners of corporations. The geographic scope of the coverage has been broadened to include an important emerging economy, Brazil. In addition, the book now incorporates analysis of the burgeoning use of corporate law to protect the interests of "external constituencies" without any contractual relationship to a company, in an attempt to tackle broader social and economic problems. The authors start from the premise that corporations (or companies) in all jurisdictions share the same key legal attributes: legal personality, limited liability, delegated management, transferable shares, and investor ownership. Businesses using the corporate form give rise to three basic types of agency problems: those between managers and shareholders as a class; controlling shareholders and minority shareholders; and shareholders as a class and other corporate constituencies, such as corporate creditors and employees. After identifying the common set of legal strategies used to address these agency problems and discussing their interaction with enforcement institutions, The Anatomy of Corporate Law illustrates how a number of core jurisdictions around the world deploy such strategies. In so doing, the book highlights the many commonalities across jurisdictions and reflects on the reasons why they may differ on specific issues. The analysis covers the basic governance structure of the corporation, including the powers of the board of directors and the shareholder meeting, both when management and when a dominant shareholder is in control. It then analyses the role of corporate law in shaping labor relationships, protection of external stakeholders, relationships with creditors, related-party transactions, fundamental corporate actions such as mergers and charter amendments, takeovers, and the regulation of capital markets. The Anatomy of Corporate Law has established itself as the leading book in the field of comparative corporate law. Across the world, students and scholars at various stages in their careers, from undergraduate law students to well-established authorities in the field, routinely consult this book as a starting point for their inquiries.
Download or read book United Nations Commission on International Trade Law UNCITRAL Yearbook 2012 written by United Nations Commission on International Trade Law and published by United Nations. This book was released on 2015-12-16 with total page 1282 pages. Available in PDF, EPUB and Kindle. Book excerpt: This publication reproduces the substantive documents prepared each year for the Commission and its working groups. It includes the annual report of the Commission, meeting records, General Assembly resolutions and Sixth Committee reports related to UNCITRAL's work, and a bibliography of recent scholarly writings examining the legal texts prepared by UNCITRAL. The Yearbook is divided into three parts. Part One deals with the Commission's report. Part Two covers studies and reports on specific subjects. Part Three contains meeting records, the bibliography and checklists of UNCITRAL documents prepared in the current and previous years.
Download or read book Creditor Protection in Private Equity Backed Leveraged Buyout and Recapitalisation Practices written by Hasan Erdem ?i?mangil and published by BWV Verlag. This book was released on 2014-11-17 with total page 463 pages. Available in PDF, EPUB and Kindle. Book excerpt: Private equity-backed leveraged buyout (LBO) and leveraged recapitalisation practices have been on the rise since the early 1970s when the LBO model was first invented. They continue to play a major role for investors for their less transparent and less bureaucratic investment models outside of capital markets, where financial regulations become tighter following the financial crisis of 2008 affecting global capital markets in a chain reaction. Private equity-backed LBOs and leveraged recapitalisations continue to be popular investment models, however they carry risks both at the target company level and on a macroeconomic level due to the interconnectedness of these investments with global capital markets for funding and refinancing of acquisition finance debts. Creditor protection mechanisms of company and insolvency law therefore play a central role in preventing or dealing with failures that may be triggered at the target company level and have detrimental effects for all creditors and the economy. Though the European legal capital system must be critically revisited, England's and Germany's already mature markets and legal systems should help in developing a better interpretation of these rules in developing economies like Turkey, consequently establishing a solid base for this investment practice in these economies.
Download or read book Doing Business 2020 written by World Bank and published by World Bank Publications. This book was released on 2019-11-21 with total page 241 pages. Available in PDF, EPUB and Kindle. Book excerpt: Seventeen in a series of annual reports comparing business regulation in 190 economies, Doing Business 2020 measures aspects of regulation affecting 10 areas of everyday business activity.
Download or read book Creditor Protection in Private Companies written by Thomas Bachner and published by Cambridge University Press. This book was released on 2009-04-16 with total page 353 pages. Available in PDF, EPUB and Kindle. Book excerpt: Investigates mechanisms in English and German law that protect creditors against the abuse of limited liability by directors and shareholders.
Download or read book Introduction to Company Law written by Paul Davies and published by Oxford University Press. This book was released on 2020-01-31 with total page 401 pages. Available in PDF, EPUB and Kindle. Book excerpt: Since the financial crisis of 2007 to 2009 the role of the company in society, especially the role of publicly traded companies, has acquired a political salience that was largely absent in the decades before the crisis. This concern has been reflected in both enhanced reporting requirements and in the latest version of the Corporate Governance and Stewardship Codes applicable to the largest companies. This books analyses these developments in full, as well as the more fundamental proposals for reform of corporate law that have been advanced outside official circles. The book also examines the functions of the five core features of company law-separate legal personality, limited liability, centralized management, shareholder control, and transferability of shares. It finally analyses the legal strategies available for moderating the frictions that these core features nevertheless generate for those providing the necessary inputs for a company's business. Written by one of the field's foremost experts, Paul Davies' Introduction to Company Law provides a comprehensive conceptual introduction to the subject, giving readers a clear framework with which to navigate the intricacies of company law.
Download or read book The European Company Law Action Plan Revisited written by Koen Geens and published by Leuven University Press. This book was released on 2010 with total page 377 pages. Available in PDF, EPUB and Kindle. Book excerpt: The harmonization of company law has always been on the agenda of the European Union. Besidesthe protection of third parties affected by business transactions, the founders had two other objectives: first, promoting freedom of establishment, and second, preventing the abuse of such freedom. The European Commission issued its Company Law Action Plan in 2003. In this volume researchers of the Jan Ronse Institute for Company Law of the Katholieke Universiteit Leuven present five chapters on the main priorities of the Action Plan: capital and creditor protection,corporate governance, one share one vote, financial reporting, and corporate mobility. The book also includes responses and ensuing discussions by reputed European company law experts.
