Cross-border conversions, mergers, and divisions of companies subject to insolvency proceedings or preventive restructuring frameworks

Titelangaben

Schmidt, Jessica:
Cross-border conversions, mergers, and divisions of companies subject to insolvency proceedings or preventive restructuring frameworks.
In: von Bar, Christian ; Magnus, Ulrich ; Mansel, Heinz-Peter ; Wudarski, Arkadiusz (Hrsg.): Gedächtnisschrift für Peter Mankowski. - Tübingen : Mohr Siebeck , 2024 . - S. 691-701
ISBN 978-3-16-162640-1

Volltext

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Abstract

Peter Mankowski relished tricky legal problems at the intersection of two fields of law. We often had long and inspiring exchanges of ideas especially about legal questions at the cross-roads of insolvency and company law in cross-border settings. The 2019 Mobility Directive, which significantly amended the Company Law Directive (CLD), has brought us a new intricate legal issue in this context: Art. 86a(4)(a), 120(5)(a), 160a(5)(a) CLD allow Member States to not apply the rules on cross-border conversions, mergers, and divisions to companies which are the subject of insolvency proceedings or subject to preventive restructuring frameworks (“insolvency or preventive restructuring exception options” or “I&PR exception options”). This contribution examines the pros and cons of such an exception (I.), the genesis of these Member State options (II.), their scope and the consequences of a Member State using them (III.), the actual approach in selected Member States (IV.), and consequential issues (V.).