Contractarianism, Contractualism, and The Law of Corporate Insolvency  

Oleh:

Mokal, Rizwaan Jameel

Jenis: Article from Journal - ilmiah internasional
Dalam koleksi: Singapore Journal of Legal Studies (Jul. 2007), page 51-95.
Topik: CORPORATE; contractarianism; contractualism; law; corporate insolvency

Ketersediaan

Perpustakaan Pusat (Semanggi) Nomor Panggil: SS46 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada

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Isi artikel

What is the appropriate way of theorising about corporate bankruptcy law ? That lies, argues this paper, in rejecting Pareto and Kaldor - Hicks efficiency in favour of a particular conception of transaction cost efficiency, and in rejecting the ‘contractarian ’ Creditors ’ Bargain Model in favour of the ‘contractualis t’Authentic Consent Model. The paper vindicates these arguments with an analysis of the automatic stay which characterises the collective liquidation regime, of the pari passu principle often said to be at the heart of this regime, and of the liability imposed in some jurisdictions on the managers of terminally distressed companies for failing to take reasonable steps to avoid further loss to their company ’s creditors.

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