Book contents
- Frontmatter
- Contents
- Preface
- Table of abbreviations
- Table of legislation
- Table of cases
- Terminology
- 1 Introduction
- 2 Avoidance of acts that are detrimental to creditors
- 3 Capital maintenance and unlawful distributions
- 4 Directors' liability for contraventions of capital maintenance rules
- 5 Directors' liability for conduct in the vicinity of insolvency
- Conclusions
- Appendix: Statutory provisions
- Editorial note on German sources
- Bibliography
- Company Law Review consultation documents
- Index
Conclusions
Published online by Cambridge University Press: 29 July 2009
- Frontmatter
- Contents
- Preface
- Table of abbreviations
- Table of legislation
- Table of cases
- Terminology
- 1 Introduction
- 2 Avoidance of acts that are detrimental to creditors
- 3 Capital maintenance and unlawful distributions
- 4 Directors' liability for contraventions of capital maintenance rules
- 5 Directors' liability for conduct in the vicinity of insolvency
- Conclusions
- Appendix: Statutory provisions
- Editorial note on German sources
- Bibliography
- Company Law Review consultation documents
- Index
Summary
At this point, after so much detailed analysis, some might expect a straightforward judgment as to which of the two legal systems, that of England or Germany, does better in protecting creditors of limited liability companies. Yet this book has not been written to answer such a question. Any comparison on a scale of ‘better or worse’ presupposes commensurability. But the price to be paid in order to achieve this commensurability is a reductionism which has a tendency to gloss over the law's inherent indeterminacy, its scope for argument, and its potential for evolution driven by the legal discourse itself. This book has looked at some of the most topical issues in the contemporary European discourse on creditor protection with a view to presenting the issues from the respective internal vantage points of English and German law in order to achieve a more fine-grained, vivid and dynamic picture than has hitherto been presented in comparative legal writing. The preceding chapters have analysed several components or pillars of creditor protection that are shared by English law and German law: the avoidance of pre-insolvency acts that are detrimental to creditors, the reversal of unlawful distributions amounting to a contravention of capital maintenance rules, as well as directors' personal liability for contraventions of capital maintenance rules and for conduct in the vicinity of insolvency.
- Type
- Chapter
- Information
- Creditor Protection in Private CompaniesAnglo-German Perspectives for a European Legal Discourse, pp. 248 - 256Publisher: Cambridge University PressPrint publication year: 2009