OXFORD UNIVERSITY PRESS

Rescuing Companies in England and Germany

ISBN : 9780199644216

Price(incl.tax): 
¥28,754
Author: 
Reinhard Bork
Pages
392 Pages
Format
Hardcover
Size
175 x 247 mm
Pub date
Mar 2012
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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 made during 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 to base their restructuring and gives scholars further research material concerning the remaining issues in English and German restructuring law.

Index: 

1: PRINCIPLES
1. Introduction: Cause for investigation
2. Practical considerations
3. The interests involved
4. Fundamental issues in restructuring law
2: AN OVERVIEW OF RESTRUCTURING LAW
5. The restructuring process in Germany
6. The restructuring process in England
3: INDIVIDUAL ASPECTS OF REGULATION
7. Initiating proceedings
8. Triggering circumstances
9. Parties to the process
10. Moratorium
11. Securing liquidity
12. Contractual relationships
13. Securities
14. Limitations on creditors' rights
15. Company law measures
16. Credit for restructuring
17. The decision on the restructuring plan
18. Supervising restructuring
4: SPECIAL SITUATIONS
19. Cross-border restructuring
20. Group company insolvency
21. Taxation aspects
5: ANALYSIS

About the author: 

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 College Oxford in 2010/2011. He has served as a judge at the Upper State Court (Court of Appeal) in Hamburg in the Commercial Law Division with jurisdiction including Patents and Intellectual Property Rights (1992-1996) and he has published extensively on Civil and Civil Procedural Law (including Arbitration), Insolvency Law, Commercial Law, and Media Law.

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