Covenants and Third-Party Creditors, Daniela Matri

Автор: Daniela Matri
Название: Covenants and Third-Party Creditors
ISBN: 3319620355 ISBN-13(EAN): 9783319620350
Издательство: Springer
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Цена: 16769.00 р.
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Описание:

This book adds to the debate on the effects of covenants on third-party creditors (externalities), which have recently become a focus of discussion in the contexts of bankruptcy law, corporate law and corporate governance. The general thrust of the debate is that negative effects on third-party creditors predominate because banks act in their own self-interest.

After systematising the debated potential positive and negative externalities of covenants, the book empirically examines these externalities: It investigates the banks' factual conduct and its effects on third-party creditors in Germany and the US. The study's most significant outcome is that it disproves the assumption that banks disregard third-party creditors' interests.

These findings are then interpreted with the tools of economic analysis; particularly, with the concept of common pool resources (CPRs). Around the aggregated value of the debtor company's asset pool (as CPR) exists an n-person prisoner's dilemma between banks and third-party creditors: No creditor knows when and under what conditions the other creditor will appropriate funds from the debtor company's asset pool. This coordination problem is traditionally addressed by means of bankruptcy law and collaterals. However, the incentive structure that surrounds the bilateral private governance system created by covenants and an event of default clause (a CPR private governance system) is found to also be capable of tackling this problem.

Moreover, the interaction between the different regulation spheres - bankruptcy law, collateral and the CPR private governance system - has important implications for both the aforementioned discussions as well as the legal treatment of covenants and event of default clauses. Covenants alone cannot be seen as an alternative to institutional regulation; the complete CPR private governance system and its interaction with institutional regulation must also be taken into consideration. In addition, their function must first find more acceptance and respect in the legal treatment of covenants and event of default clauses: The CPR private governance system fills a gap in the regulation of the tragedy of the commons by bankruptcy law and collateral. This has particularly important implications for the German 138 BGB, 826 BGB and ad hoc duties to disclose insider information.

Автор: Symes, Christopher F.
Название: Statutory Priorities in Corporate Insolvency Law
ISBN: 075467519X ISBN-13(EAN): 9780754675198
Издательство: Taylor&Francis
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Цена: 22968.00 р.
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Автор: Keay, Andrew
Название: Company Directors` Liability and Creditor Protection
ISBN: 0367210517 ISBN-13(EAN): 9780367210519
Издательство: Taylor&Francis
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Цена: 33686.00 р.
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Автор: Douglas G. Baird, Thomas H. Jackson, Theodore Eisenberg
Название: Commercial and Debtor-Creditor Law Selected Statutes, 2019 Edition
ISBN: 1642429139 ISBN-13(EAN): 9781642429138
Издательство: Mare Nostrum (Eurospan)
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Цена: 10811.00 р.
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Описание: Receive complimentary lifetime digital access to the eBook with new print purchase. This statutory supplement combines the most useful statutes for courses in contracts, commercial law, secured transactions, commercial paper, sales, bankruptcy, debtor-creditor law, and corporate reorganizations.

Автор: Douglas G. Baird, Theodore Eisenberg, Thomas H. Jackson
Название: Commercial and Debtor-Creditor Law Selected Statutes, 2021 Edition
ISBN: 1647088798 ISBN-13(EAN): 9781647088798
Издательство: Mare Nostrum (Eurospan)
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Цена: 12335.00 р.
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Описание: Combines the most useful statutes for courses in contracts, commercial law, secured transactions, commercial paper, sales, bankruptcy, debtor-creditor law, and corporate reorganisations and contains the recent changes made by the Small Business Reorganization Act of 2019, the Coronavirus Aid, Relief, and Economic Security Act of 2020.

Автор: O`dea, Geoff
Название: Restructuring plans, creditor schemes, and other restructuring tools
ISBN: 0198844743 ISBN-13(EAN): 9780198844747
Издательство: Oxford Academ
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Цена: 41580.00 р.
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Описание: This timely new work provides the most comprehensive coverage of debt restructuring tools available in the UK, including analysis of the new restructuring plan under Part 26A of the Companies Act 2006 and emerging themes from related precedent case law.

Автор: Moeckli Daniel
Название: Human Rights Covenants at 50
ISBN: 0198825897 ISBN-13(EAN): 9780198825890
Издательство: Oxford Academ
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Цена: 17820.00 р.
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Описание: Fifty years after the UN General Assembly adopted the two human rights covenants, this volume brings together contributions considering the key issues facing the international human rights system today, taking stock of the achievements of the covenants, assessing their current influence, and exploring the future challenges facing them.