Business, Management and Accounting
8 years ago

New legal doctrine holds companies accountable for deepening insolvency, sparking global convergence.

1 view
European Company and Financial Law Review
The Transition from Corporate Governance to Bankruptcy Governance – Convergence of German and US law?
Michael Schillig

Paper Summary

The article explores how companies in financial trouble can be held responsible for making things worse by taking on more debt. It compares German and US laws to see if they are becoming more similar in how they deal with this issue. The researchers found that there is a trend towards aligning the two legal systems when it comes to moving from managing a company to managing its bankruptcy.

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