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Limited liability companies form the backbone of our modern economy. However, there is a persistent danger of moral hazard on the part of directors and shareholders, particularly in closely held or private companies. Like all developed legal systems, English and German law both provide mechanisms designed to protect creditors from such risks. This book investigates some of these mechanisms, including the avoidance of pre-insolvency acts, capital maintenance and creditor-regarding duties of directors. By analysing the different conceptual and doctrinal perspectives inherent in the English and German systems, this book seeks to advance a discourse between audiences with different legal backgrounds. It will be an invaluable guide for those wishing to understand how the protective mechanisms operate and interact with each other, and how they do so in quite different ways in the two jurisdictions.

Private companies --- Corporations --- Debtor and creditor --- Corporation reserves --- Directors of corporations --- Finance --- Law and legislation --- Legal status, laws, etc --- Legal status, laws, etc. --- Finance. --- -Corporations --- -346.077 --- Eb6 --- Business corporations --- C corporations --- Corporations, Business --- Corporations, Public --- Limited companies --- Publicly held corporations --- Publicly traded corporations --- Public limited companies --- Stock corporations --- Subchapter C corporations --- Business enterprises --- Corporate power --- Disincorporation --- Stocks --- Trusts, Industrial --- -Law and legislation --- -Finance --- -Corporation reserves --- -Private companies --- Law --- General and Others --- Private companies - Germany - Finance --- Corporations - Finance - Law and legislation - Germany --- Debtor and creditor - Germany --- Corporation reserves - Law and legislation - Germany --- Directors of corporations - Legal status, laws, etc - Germany --- Private companies - Great Britain - Finance --- Corporations - Finance - Law and legislation - Great Britain --- Debtor and creditor - Great Britain --- Corporation reserves - Law and legislation - Great Britain --- Directors of corporations - Legal status, laws, etc - Great Britain --- Royaume-Uni --- Allemagne --- Corporate reserves --- Reserve funds, Corporation --- Reserves, Corporation --- Amortization --- Cash flow --- Reserves (Accounting) --- Sinking-funds --- Companies, Private --- Limited liability companies --- LLCs (Limited liability companies) --- Private limited companies --- Corporation law --- Limited liability --- Reserves --- Accounting