Promoting an Effective Rescue Culture with Debt-Equity-Swaps?

Annika Wolf

doi:10.5771/9783845255743

Summary

The central question of this thesis is whether the restructuring instrument of a debt-equity swap pursuant to § 225a InsO has contributed towards the making of substantial progress towards a rescue culture in Germany – following the English rescue culture – and thereby strengthened the competitiveness of Germany as a location for restructurings. The comparative analysis discusses the economic, cultural and legal frameworks to implement debt-equity-swaps under German and English law. It specifically addresses the implementation of a (solvent) scheme of arrangement for financial restructuring, which has been a very popular instrument in recent years for German companies, however, it also raises questions about the recognition of the scheme’s effect in Germany. Finally, there is discussion of the extent to which the new insolvency norms are suitable to solve conflicts in corporate law.

Search publication

Bibliographic data

Publication year: 2015
Publication date: 13.02.2015
ISBN-Print: 978-3-8487-1535-0
ISBN-Online: 978-3-8452-5574-3
Publisher: Nomos, Baden-Baden
Series: Schriften zur Restrukturierung
Volume: 7
Language: English
Pages: 270
Product type: Book Titles

Titelei/Inhaltsverzeichnis No access Pages 1 - 22
Introduction and Background No access Pages 23 - 49
Factors Affecting the Effectiveness of Restructuring Companies No access Pages 50 - 105
Restructuring Companies using Debt-Equity-Swaps No access Pages 106 - 194
Legal Competition and Forum Shopping for Debt- Equity-Swaps in Practice No access Pages 195 - 233
Summary and Conclusion No access Pages 234 - 238
Bibliography No access Pages 239 - 270