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Trading in the Vicinity of Insolvency

Published online by Cambridge University Press:  21 June 2006

Gerald Spindler
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Abstract

The Paper deals with the incentive structures for directors in the vicinity of insolvency. Distinctions between closely held and public corporations are discussed as well as the application of business judgement rules to decisions of directors in the vicinity of insolvency, in particular with regard to the solvency test. Finally stress is laid on procedural issues such as enforcement of director's liability without formal insolvency procedures.

Keywords

insolvencybusiness judgement rulesolvency testenforcementshadow director
Type
Articles
Information
European Business Organization Law Review (EBOR) , Volume 7 , Issue 1 , March 2006 , pp. 339 - 352
Copyright
T.M.C. Asser Press 2006

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