about the design of debt contracts. The results derive from the premise that firms must avoid legal insolvency when issuing … new debt because insolvency at issuance would trigger severe operational limitations on the issuer. I first show that … legal insolvency limits debt capacity, limiting the amount of money that a firm can raise with debt. I next show that legal …

-liquidation insolvency proceedings, usually referred to as reorganization. Using the ECJ case law on the Directive, I conclude that although … capital do not present an insurmountable hurdle to the adoption of rational corporate insolvency law. As a side note, I also … unnecessary administrative burden on reorganizing European companies. -- bankruptcy ; insolvency ; reorganization ; registered …

where insolvency is impending according to the current uneven company-law framework and the harmonizing provisions drafted … directors' creditor-regarding duties where the business is nearing insolvency. Whilst they may theoretically constitute an … by enhanced directors' duties in the vicinity of insolvency. On the contrary, far from duplicating the remedies available …