Legal Capital and Limited Liability Companies

Download or read book Legal Capital and Limited Liability Companies written by Massimo Miola and published by . This book was released on 2007 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: The debate over the future of legal capital in Europe has begun. Inspired by the American system centered on the solvency test and by the forthcoming changes in accounting rules, Jonathan Rickford and others have launched an attack on the Second Directive. The European Union has recently commissioned a quot;feasibility studyquot;. However, resistance is still strong, as creditor protection achieved by legal capital rules has still not been proved less efficient. Working groups have been constituted and a considerable amount of research is being carried out. This article provides an overview over the current state of the debate and tries to work out a compromise between attack and defence.