Rescuing Companies in England and Germany

Hardcover | April 15, 2012

byReinhard Bork

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This book examines the circumstances under which a company needs restructuring, and for which companies that would be possible given the nature of the corporation and the economic viability. It discusses the criteria for judging whether a reorganization has been a success.Bork considers the legal mechanisms involved in restructuring including the extent to which the law provides the rules for a moratorium and the rights creditors may exercise over the debtor's assets. It also tackles the legal processes and how a reorganization can be commenced.The book includes analysis of the role of management and the partners or shareholders and the extent to which either legal system assigns the decision-making powers to the right persons. It considers how each regime deals with the assets involved and whether there are rules to reverse payments madeduring the crisis and the possibility of a set-off claim. Other aspects considered include special rules for terminating or modifying disadvantageous contracts including contracts of employment, and costs of restructuring procedures under given legal conditions.Providing a thorough consideration of the extent to which English and German company law (including the proposed changes to German law) enhances or limits the prospects of businesses seeking to reorganize, this work offers a valuable reference source for practitioners advising companies on where tobase their restructuring and gives scholars further research material concerning the remaining issues in English and German restructuring law.

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This book examines the circumstances under which a company needs restructuring, and for which companies that would be possible given the nature of the corporation and the economic viability. It discusses the criteria for judging whether a reorganization has been a success.Bork considers the legal mechanisms involved in restructuring in...

Prof. Dr. Reinhard Bork studied law at the University of Munster/Westf. Since 1990 he has been Professor of Law at the University of Hamburg, where he is Director of the Seminar for Civil Procedural Law. He was Dean of the Law Faculty in 1993/1994, Vice Dean from 2005 to 2010 and was the Robert S. Campbell Visiting Fellow at Magdalen ...

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Format:HardcoverDimensions:312 pages, 9.69 × 6.73 × 0.1 inPublished:April 15, 2012Publisher:Oxford University PressLanguage:English

The following ISBNs are associated with this title:

ISBN - 10:0199644217

ISBN - 13:9780199644216

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Table of Contents

1: Principles1. Introduction: Cause for investigation2. Practical considerations3. The interests involved4. Fundamental issues in restructuring law2: An overview of restructuring law5. The restructuring process in Germany6. The restructuring process in England3: Individual aspects of regulation7. Initiating proceedings8. Triggering circumstances9. Parties to the process10. Moratorium11. Securing liquidity12. Contractual relationships13. Securities14. Limitations on creditors' rights15. Company law measures16. Credit for restructuring17. The decision on the restructuring plan18. Supervising restructuring4: Special situations19. Cross-border restructuring20. Group company insolvency21. Taxation aspects5: Analysis